This paper uses the test/retest data from the Holt and Laury (2002) experiment to provide estimates of the measurement error in this popular risk-aversion task. Maximum likelihood estimation suggests that the variance of the measurement error is approximately equal to the variance of the number...

Because of limited governmental resources, communities in Africa often rely on collective action to provide basic public goods such as schools. What drives the ability of communities to produce better schools? Two important lines of research shaped our understanding of the ability of communities...