Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual i's...

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual...

The asymmetry between the patient as a layman and the physician as an expert is a key element in health economics. However, a change to a higher degree of patient autonomy has taken place. Furthermore, there is a consensus in a positive correlation between general education and productivity of...

We examine an assumed link between reducing inequality in income distribution, namely reducing the Gini coefficient on one hand, and improving public health in general and lowering the incidence and severity of COVID-19 in particular on the other hand. The Gini coefficient can be shown to...

We describe a risk protocol that combines the rigor of economic studies of risk with the ecological validity of tasks from psychology. Despite a wealth of experimental contributions on risk preferences, stemming from a variety of elicitation tasks, the external validity of standard measures of...

We examine an assumed link between reducing inequality in income distribution, namely reducing the Gini coefficient on one hand, and improving public health in general and lowering the incidence and severity of COVID-19 in particular on the other hand. The Gini coefficient can be shown to...

Pharmaceutical pricing in the United States varies, and patients often do not know the out-of-pocket costs of their medications until arriving at the pharmacy to retrieve their prescriptions. In recent years, these pharmacy-counter interactions have seen the introduction of copay cards:...