We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...

Economists and psychologists have devised numerous instruments to measure time preferences and have generated a rich literature examining the extent to which time preferences predict important outcomes; however, we still do not know which measures work best. With the help of a large sample of...

In this paper we present evidence from a field experiment on the effect of text message reminders and credit card APR (annual payment rate) information on credit scores of low-to-moderate-income individuals. We find that individuals who initially had a low credit score benefited significantly...

This paper tests whether heterogeneity of time preferences can explain individual credit behavior. In a field experiment targeting individuals from low-to-moderate income households, we measure individual time preferences through choice experiments, and then match these time preference measures...

The aim of this study is to link variation in energy cost misperceptions to variation in households' energy consumption. The focus is on two sorts of misperceptions: First, present biased discounting of future energy costs and second, biased energy price beliefs. By running an artefactual field...

We study how cost-benefit considerations shape the public acceptance of non-pharmaceutical interventions (NPIs). In an online experiment conducted on a representative sample from the US during the early COVID-19 pandemic, we provide half of our respondents with research evidence pointing to low...

Scholars have suggested that White American support for welfare is related to beliefs about the racial composition of welfare recipients. While a host of observational studies lend credence to this view, it has not yet been tested using the tools of randomized inference. In this study, we do...

We show that, to form aggregate inflation expectations, consumers rely on the price changes they face in their daily lives while grocery shopping. Specifically, the frequency and size of price changes, rather than their expenditure share, matter for individuals' inflation expectations. To...

There is a rich tradition of research on how social capital operates in the labor market. Much of this research adopts a supply-side perspective, and examines how network factors influence job seekers' success in the labor market. Recent research by Mouw (2003, 2006), however, has called into...