Based on contemporary research in decision making, negotiation, and cognitive psychology, we offer a cognitive perspective to explain the failure of governments to create what Stiglitz (1998) calls near-Pareto improvements. We examine the role of human judgment in the failure to find wise...

We set out to find ways to help decision makers overcome the "winner's curse," a phenomenon commonly observed in asymmetric information bargaining situations, and instead found strong support for its robustness. In a series of manipulations of the "Acquiring a Company Task," we tried to enhance...

We explore interventions at the level of the individual and focus on recognized cognitive barriers from the behavioral decision-making literature. In particular, we highlight three cognitive barriers that impede sound individual decision making that have particular relevance to behaviors...