Fungibility of money is a central assumption in the theory of consumer choice: any unit of money is substitutable for … another. This implies that the composition of income or wealth is irrelevant for consumption. We find in a field experiment … of their budget, subjects change consumption according to the label. A controlled laboratory experiment confirms this …

This paper presents a laboratory experiment that directly tests the theoretical predictions of consumption choices … of the theory: 1) Subjects optimally make stochastic consumption choices; 2) They respond to incentives and changes in …

attention only to specific cells. Our results suggest that subjects apply boundedly rational decision heuristics that involve … best responding to a simplification of the decision problem, obtained either by ignoring the other players' motivations or …

choices under conditions designed to induce different degrees of emotional decision processing. The results consistently … indicate that greater reliance on emotional reactions during decision making is associated with greater preference consistency …

experiment where we incentivize choice, vary the difference in utility between options and track which option participants …

longitudinal experiment over four weeks, individuals have to complete a cumbersome task of unknown length. They are exposed to … (motivated procrastination) turns out to be robust to accounting for decision-makers' time preferences and emotional responses …, and looms largest for decision makers who tend to not acquire information that may include negative news. …

for this notion of ‘motivated procrastination’. In a longitudinal experiment over four weeks, individuals must complete a …

another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple … change consumption according to the suggestion of the label. A controlled laboratory experiment confirms this result and … consumers ; field experiment ; laboratory experiment …