when an income tax has to be paid or when a subsidy is paid. We investigate this result further in a range of variations of …

Diversification is a fundamental concept in economics, decision theory, and finance, but the way in which it is … children apply it as a choice heuristic. We report on results of an experiment that tests whether children diversify in a … sequence of hypothetical choice questions and dice-rolling games. Overall, we find that children do exhibit preferences for …