Whereas economists have made extensive studies of the impact of levels of incentives on behavior, they have paid little attention to the effects of regularity and frequency of incentives. We contrasted three ways of rewarding participants in a real-effort experiment in which individuals had to...

CEO remuneration is contentious and so we applaud Jacquart and Armstrong's (2013) systematic evidence-based review. We augment their analysis in two ways. First, we highlight the lack of demonstrated validity of “unaided expert judgment” to set CEO remuneration by pointing out that the...

When the assignment of incentives is uncertain, we study how the regularity and frequency of rewards and risk attitudes influence participation and effort. We contrast three incentive schemes in a real-effort experiment in which individuals decide when to quit: a continuous incentive scheme and...

The importance of emotion in risk perception has been well documented in field and experimental studies. However, little is known about its role in everyday life. On thirty occasions over ten consecutive working days, ninety-four participants were prompted at random - via mobile telephones - to...

Whereas people are typically thought to be better off with more choices, studies show that they often prefer to choose from small as opposed to large sets of alternatives. We propose that satisfaction from choice is an inverted U-shaped function of the number of alternatives. This proposition is...

The mathematical representation of Brunswik's lens model has been used extensively to study human judgment and provides a unique opportunity to conduct a meta-analysis of studies that covers roughly five decades. Specifically, we analyze statistics of the lens model equation (Tucker, 1964)...

The experiential sampling method (ESM) was used to collect data from 74 part-time students who described and assessed the risks involved in their current activities when interrupted at random moments by text messages. The major categories of perceived risk were short-term in nature and involved...