We study default and endogenous leverage in the laboratory. To this purpose, we develop a general equilibrium model of collateralized borrowing amenable to laboratory implementation and gather experimental data. In the model, leverage is endogenous: agents choose how much to borrow using a risky...

In this paper, we examine labor market favoritism in a unique laboratory experiment design that can shed light on both the private benefits and spillover costs of employer favoritism (or discrimination). Group identity is induced on subjects such that each laboratory "society"consists of eight...

Over two days in February 1988, several key experimental economists and cognitive psychologists met to explore the possibilities of joint research promoted by the Sloan and Russell Sage Foundations under the rubric behavioral economics. The original vision that the meeting could open a line of...

The aviation industry changed dramatically in the wake of the Airline Deregulation Act of 1978. My paper looks at an element of this transformation - the policy according to which take off and landing slots were allocated at congested airports including a proposal to change this policy - an...