We show that feasible elimination procedures (Peleg, 1978) can be used to select k from m alternatives. An important advantage of this method is the core property: no coalition can guarantee an outcome that is preferred by all its members. We also provide an axiomatic characterization for the...

It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak. Building on a lifecycle model with uncertain longevity,...

Myerson’s classic result provides a full description of how a seller can maximize revenue when selling a single item. We address the question of revenue maximization in the simplest possible multi-item setting: two items and a single buyer who has independently distributed values for the...

We find a herding tendency among both amateur and professional investors and conclude that the propensity to herd is lower in the professionals. These results are obtained both when we consider herding into individual stocks and herding into stocks in general. Herding depends on the firm’s...

The ability to detect a change, to accurately assess the magnitude of the change, and to react to that change in a commensurate fashion are of critical importance in many decision domains. Thus, it is important to understand the factors that systematically affect people’s reactions to change....

Gambling frequencies on single numbers in real casino roulette were displayed in a contour map. This resulted not only in a confirmation that gamblers are subject to middle bias, but also to accessibility effects. The figure allowed us to infer the location of the roulette wheel and croupier...

This paper investigates the effect of compensation of corporate personnel on their investment in new technologies. We focus on a specific corporate activity, namely corporate venture capital (CVC), describing minority equity investment by established-firms in entrepreneurial ventures. The...

Do participants bring their own priors to an experiment? If so, do they share the same priors as the researchers who design the experiment? In this article, we examine the extent to which self-generated priors conform to experimenters’ expectations by explicitly asking participants to indicate...

Since its inception, psychology has studied position effects. But the position was a temporal one in sequential presentation, and the dependent variables related to memory and learning. This paper attempts to survey position effects when position is spatial (namely, position=location), all...

A stranger entering the store ahead of you may hold the door open so it does not slam in your face, or your daughter may tidy up the kitchen when she realizes that you are very tired: both act out of considerateness. In acting considerately one takes others into consideration. The considerate...