We conducted an experiment to collect data on consumption decisions made by children of different age categories. In … particular, our experiment involves unsophisticated discrete consumption choices,and we present a rationality test that is … behavior is largely irrational. Next, we also investigate the relationship between the degree of rationality and the children …

the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from …

the uncertainty of subjects regarding others’ rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others’ rationality plays a major role in causing substantial deviation of forecast prices from …

players’ perceptions of their opponents’ skill or level of rationality. We first show theoretically that it is the case by … modelling a two-stage game of capacity investment and pricing with bounded rational players. We then design an experiment in … which we use the level of experience as a proxy for the level of rationality and match subjects with different levels of …

We report an experimental test of the four touchstones of rationality in choice under risk – utility maximization … political affairs. We find very small or no significant differences between the two samples in the degree of rationality … economic rationality. We show that a canonical IQ test indicates a much larger development gap in rationality relative to our …