Risk preference inducing lottery procedures can serve as valuable tools for experimental economists. However, questioning their effectiveness, experimenters may avoid them even when predictions and conclusions depend crucially on risk preferences. Here, I review risk preference induction...

When making collective decisions, principals (voters or districts) typically benefit by strategically delegating their bargaining and voting power to representatives different from themselves. There are conflicting views in the literature, however, of whether such a delegate should be...

Consider a decision maker who must coordinate his decision with the occurrence of some phenomenon. In order to behave "optimally," the circumstances surrounding the occurrence of the phenomenon must be learned. However, there are natural bounds on the capabilities of perception. More...