The paper points out a potential gap between intertemporal choices and time preference: The observed intertemporal decisions could be partly driven by a biased perception of time, and thus may not completely reveal the actual time preference. To test this conjecture, we explore the relationship...

What determines individual status in a group and do preferences exhibit a bias over status? Primate studies can shed light on this question, offering insights into the evolutionary roots of human behavior. Field experiments with groups of monkeys living in their natural habitat allow...

The sunk cost effect has been widely observed in individual decisions. Building on an intra-personal self-management game, the paper theoretically shows that the sunk cost effect may stem from an attempt to overcome the under-investment problem associated with a high degree of present bias or to...

This paper experimentally explores how compositional grammars in artificial codes emerge and are sustained. In a pure coordination game with no conflict of interest, the sender sends a message that is an arbitrary string from available symbols with no prior meaning to indicate an abstract...

The paper studies how common codes of artificial language in communication are developed in the laboratory. We find that codes emerging from an environment with more variable spatial positions tend to use a limited set of symbols to represent positions, whereas codes emerging from an environment...