Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

In Experimental Economics, coordination games are used to elicit social norms as incentivized beliefs about others' beliefs. Conversely, representative surveys like the World Values Survey elicit social norms as personal attitudes and values that are independent of others' beliefs. Using a...

Using vignettes that are based on seminal cases in law and economics, I find that judicial decisions across different areas of the common law are considered to be fairer when they follow prescriptions for efficiency based on law-and-economic reasoning. Vignettes describe legal disputes and...

On June 23, 2005, the U.S. Food and Drug Administration (FDA) formally approved the heart failure drug BiDil to treat heart failure in self-identified black patients. The drug itself is not actually new; it is merely a combination of two generic drugs that have been used to treat heart failure...

We introduce the give-or-destroy game that allows us to fully elicit an individual’s social preference schedule. We find that about one third of the population exhibits both pro-social and anti-social preferences that are independent of payoff comparisons with those who are affected. We call...

Recently, the positive theory of rational choice has come under attack from experimental psychologists and economists. Their experimental results, gathered together under the banner of behavioral analysis, show that the maximizing model of rational choice often does not provide a very accurate...

In Experimental Economics, coordination games are used to elicit social norms as incentivized beliefs about others’ beliefs. Conversely, representative surveys like the World Values Survey elicit social norms as personal attitudes and values that are independent of others’ beliefs. Using a...

We study consumers' concerns for the ideological values of their market counterparts and the implications of such concerns for the public promotion of values. Using a survey and online and laboratory experiments, we find that consumers are willing to pay premiums to exchange with counterparts...

Members of various species engage in altruism — i.e. accepting personal costs to benefit others. Here we present an incentivized experiment to test for altruistic behavior among AI agents consisting of large language models developed by the private company OpenAI. Using real incentives for AI...

In experiments with two-person sequential games we analyze whether responses to favorable and unfavorable actions depend on the elicitation procedure. In our 'hot' treatment the second player responds to the first player's observed action while in our 'cold' treatment we follow the 'strategy...