Non-adherence to medical advice is a serious problem to patients, health policy and practitioners. This article outlines concepts of behavioral economics that might lead a patient to decide against the provider's recommendations and thus to be non-adherent. Especially the timing of pay-offs and...

Measuring the impact of self-control on caloric intake has proved challenging in non-experimental studies. In this article, we study the relationship between self-control and food intake quantified by calories. Using validated behavioral measures, we find that impulsivity increases caloric...

Standard economic theory based on the rationality assumption predicts optimal provisions for retirement by individuals. However, empirical data shows substantial under-saving for retired life by citizens of both developed and developing countries. This article attempts to test the role of...

Informal lending and savings institutions exist around the world, and often include regular door-to-door deposit collection of cash. Some banks have adopted similar services in order to expand access to banking services in areas that lack physical branches. Using a randomized control trial, we...

We model denial of death and its effect on economic behavior. Attempts to reduce death anxiety and the possibility of denial of mortality-relevant information interact with intertemporal choices and may lead to time-inconsistent behavior and other “behavioral” phenomena. In the model,...

As traditionally conducted, benefit-cost analysis is rooted in neoclassical welfare economics, which, in its most simplified form, assumes that individuals act rationally and are primarily motivated by self-interest, making decisions that maximize their welfare. Its conduct is evolving to...

Summary While standard economic theory takes individual preferences as stable and “given”, i.e., independent of situational context, real-world preferences tend to vary with changing opportunity sets. This is exemplified by Aesop’s fable of the fox and the sour grapes. This phenomenon of...

Abstract Standard economic theory assumes individual preferences to be fixed and exogenously given. This view has been challenged by numerous empirical observations. In reaction to those challenges, economic theory has been modified, mostly by including additional arguments into individuals’...

Purpose – This study aims to explore the economic impact of the Great Recession on consumers' economic attitudes and behaviors. Design/methodology/approach – Data were collected through a questionnaire completed by 2,120 subjects. Eight propositions involving six constructs (i.e....