We propose and analyze a generalization of present value maximization, 'time-order dependent present value (TODPV),' for intertemporal income choice. The model is analagous to the rank dependent expected utility model (RDEU) for choice under risk. The main feature of interest in the model is the...

We conduct an experiment to (i) measure the structure of preferences over lotteries and (ii) test for stability of the probability transformation functions over different choice sets. The design is based on manipulations of the 'probability triangle' A disaggregated nonparametric analysis in...

This is a paper on the creation and evolution of conventions of behavior in ”inter-generational games”. In these games a sequence of non-overlapping ”generations” of players play a stage game for a finite number of periods and are then replaced by other agents who continue the game in...