Controversy exists about the act of giving as altruistic instead of self-interested behavior. Each side of this argument interprets similar results from similar experiments in diff erent ways. One side argues the results show that the appearance of altruistic behavior can be explained by...

We propose and analyze a generalization of present value maximization, 'time-order dependent present value (TODPV),' for intertemporal income choice. The model is analagous to the rank dependent expected utility model (RDEU) for choice under risk. The main feature of interest in the model is the...

We conduct an experiment to (i) measure the structure of preferences over lotteries and (ii) test for stability of the probability transformation functions over different choice sets. The design is based on manipulations of the 'probability triangle' A disaggregated nonparametric analysis in...

This article reports on an experiment concerned with a two-stage, two-person, simultaneous-demand bargaining game. The focus of analysis is on a prediction for concession behavior in the second-stage game provided by Harsanyi's “risk dominance†principle, which is at odds with the...

This paper reports the results of a two-part data analysis of learning in a repeated costly decision experiment. In the first part we test payoff dominance under the hypothesis of expected payoff maximization. We utilize a dynamic probability distribution over decisions for each player,...