This article investigates the impact of memory limitations and memory distortions on the process of legal decision-making. I develop a simple framework in which jurors establish interim judgments, which are later used by a memory technology to reconstruct, in an inductive process, evidence...

In this paper we analyse the risk attitude of a group of heterogenous agents and we develop a theory of comparative collective risk tolerance. In particular, we characterize how shifts in the distribution of individual levels of risk tolerance affect the representative agent's degree of risk...

We study comparative statics of Nth-degree risk increases within a large class of problems that involve bidimensional payoffs and additive or multiplicative risks. We establish necessary and sufficient conditions for unambiguous impact of Nth-degree risk increases on optimal decision making. We...