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criminals have short time horizons, then it is hard to imagine punishment acting as a key deterrent. This paper provides the … first empirical investigation of the link between time preferences and criminal behavior. Our study is made possible by … access to a unique Swedish longitudinal dataset that links individual measures of time preferences collected at age 13 to …
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This paper proposes a new method to identify gambler's fallacy (GF) and hot-hand fallacy (HHF). In the classical method, subjects are classified as exhibiting GF/HHF even they are just randomizing/indifferent between options. In our method, subjects play the game twice and we vary the payoff...
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Preferences over risky alternatives can be elicited by different methods, including direct pairwise choices and willingness-to-accept valuations. The results are frequently at odds, casting doubts on the foundations of economics. We develop a stochastic choice model predicting when...
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