Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

expectations. We examine the predictions of Kőszegi and Rabin (2006) in the context of market experiments with probabilistic forced … these theoretical predictions. In a series of experiments with a total of 930 subjects, sellers' valuations exceed buyers …' valuations under all probabilities of forced exchange. In robustness tests where attention is drawn specifically to the forced …