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...

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...