A prevalent stereotype is that people become less risk taking and more cautious as they get older. However, in laboratory studies, findings are mixed and often reveal no age differences. In the current series of experiments, we examined whether age differences in risk seeking are more likely to...

Previous research suggests people firmly value moral standards. However, research has also shown that various factors can compromise moral behavior. Inspired by the recent financial turmoil, we investigate whether financial deprivation might shift people's moral standards and consequently...

Preference reversals across decision contexts (e.g., acquisition versus forfeiture) and elicitation procedures (e.g., choice versus willingness-to-pay; WTP) provide foundational evidence that consumers’ preferences are constructed––not revealed––in the decision-making process. We...