We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...

Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...

Rational parties enter into a contract if the agreement is mutually beneficial. However, after the contract is formed, changes to the costs and/or benefits of performance may render the original contract undesirable. In this paper, we carry out an incentivized experiment to study the effect of...

As artificial intelligence (AI) becomes more deeply implied in everyday life, it takes a more prominent role in decision-making in every industry. As Joseph Fuller, a professor of management practice at Harvard Business School, said: "Virtually every big company now has multiple AI systems and...

Smart weeding technologies (SWT) enable substantial herbicide savings via precise sensor-based application. This can enhance agrobiodiversity and make modern agriculture more sustainable. Currently, our knowledge about what will determine SWT adoption at the farm level is limited because few...

We examine the correlation in self-control between parents and their young-adult children. Analyzing two decades of population-representative panel data, we exploit variation in the family environment during childhood to investigate how family stress related to: i) parenting responsibilities;...

We explore the role of self- and peer evaluations in education, with a particular emphasis on gender differences. We construct a model of (self-)deception to predict outcomes for scenarios with and without self-evaluation. By using unique data from a first-year economics class at a Sino-UK...

Response times contain information about economically relevant but unobserved variables like willingness to pay, preference intensity, quality, or happiness. Here, we provide a general characterization of the properties of latent variables that can be detected using response time data. Our...

Technology is an integral part of everyday life, and its utilisation significantly influences how buyers behave when making decisions on their purchases, no matter the type of goods purchased. Therefore, it is necessary to observe how various generations of shoppers, based on technological...

As artificial intelligence (AI) becomes more deeply implied in everyday life, it takes a more prominent role in decision-making in every industry. As Joseph Fuller, a professor of management practice at Harvard Business School, said: "Virtually every big company now has multiple AI systems and...