This paper tests the theory of mixed strategy equilibrium using Maradona's penalty kicks during his lifetime professional career. The results are remarkably consistent with equilibrium play in every respect: (i) Maradona's scoring probabilities are statistically identical across strategies; (ii)...

The analysis in this paper searches for individual and group determinants of learning behavior in Monty Hall's Three Door problem examined in Friedman (1998, American Economic Review. 88, 933–946). The results show that the size of monetary incentives, individuals' initial abilities, and...

This paper sets forth and offers an explanation for preferences for the form of the timing of resolution of uncertainty: namely for uncertainty to be resolved all at one time rather than sequentially. The explanation is based on a weakening of the independence axiom, in particular on the notion...

Much like cognitive abilities, emotional skills can have major effects on perfor mance and economic outcomes. This paper studies the behavior of professional subjects involved in a dynamic competition in their own natural environment. The setting is a penalty shoot-out in soccer where two teams...

This paper is concerned with the dynamics of competition in American political campaigns, in particular with how the type of message a candidate sends is affected by the stage of the campaign, the status of the candidate, and the competitiveness of the race. The paper examines the allocation of...

We analyse households’ responses to an unanticipated change in consumption opportunities and evaluate their implications for the nature and formation of preferences. We study the tariff experiment conducted by South Central Bell where local telephone measured tariffs were introduced for the...