Real-effort experiments are frequently used when examining a response to incentives. For any particular real-effort task to be well-suited for such an exercise, subjects' cost for exerting effort must, for the range of incentives considered, result in an interior effort choice. The popular...

Under regret theory, decision-makers derive utility both from the outcome of their chosen action and the counterfactual. Evidence for anticipatory regret aversion has been found in oneshot settings, with "regret lotteries" that always reveal outcomes, as a counterfactual on non-entry, being...

We demonstrate the pitfalls when extrapolating behavioral findings across different contexts and decision environments. We focus on regret theory and the use of "regret lotteries" for motivating behavior change. Here, findings from one-shot settings have been used to promote regret as a tool to...

This paper experimentally examines the selection of equilibria in dynamic games. Our baseline treatment is a two-state extension of an indefinitely repeated prisoner's dilemma, which we modify in series of treatments to study the focality of efficiency and symmetry, the effect dynamic and static...

We propose a new hypothesis, the Power of Certainty, to help explain agents' difficulties in making choices when there are multiple possible payoff-relevant states. In the probabilistic ‘Acquiring-a-Company' problem an agent submits a price to a firm before knowing whether the firm is of low...