We study the public policy implications of a model in which agents do not fully internalize all the conscequences of their actions. Such a model uni es seemingly disconected models with behavioral agents. We evaluate the scope of paternalistic and libertarian-parternalistic policies in the light...

Abstract: This paper examines whether the degree of confi dence and overconfi dence in one's ability is determined biologically. In particular, we study whether foetal testosterone exposure correlates with an incentive-compatible measure of con fidence within an experimental setting. We fi nd...

This paper contrasts the normative implications of a model of decision- making with endogenous frames to those of choice theoretic models of Bernheim and Rangel (2007, 2009) and Rubinstein and Salant (2008) in which observed choices are determined by exogenous frames or ancillary conditions. We...

If decision-makers (DMs) do not always do what is in their best interest, what do choices reveal about welfare? This paper shows how observed choices can reveal whether the DM is acting in her own best interest. We study a framework that relaxes rationality in a way that is common across a...

Abstract: To boost employees’ performance, firms often offer monetary bonuses when production goals are reached. However, the evidence suggests that the particular level of a goal is critical to the effectiveness of this practice. Goals must be challenging yet achievable. Computing optimal...

This article is the first attempt to study the empirical link between income aspirations and cooperation in a one shot public good game. By combining experimental with survey data, we find evidence that the more frustrated people are with their income, the lower is their propensity to cooperate...

Abstract: We investigate whether and how the type of unemployment bene t institution affects productivity. We designed a field experiment to compare workers' productivity under a welfare system, where the unemployed receive an unconditional monetary transfer, with their productivity under a...

A vapour absorption refrigeration system (VARS) in which a transfer tank replaces the conventional solution pump is analysed. Six fluid pairs with R22 as the refrigerant and different absorbents: DMA; DMF; DMETEG; DMETrEG; DMEDEG; and NMP are considered. Variations in COP, circulation ratio,...

The performance of flat-plate collectors serving as low- and high-pressure generators in a two-stage intermittent solar refrigeration system is predicted from transient heat-transfer analysis. Experimental results obtained with a laboratory, two-stage solar refrigerator are presented and...