An enduring puzzle regarding technology adoption in developing countries is that new technologies often diffuse slowly through the social network. Two of the key predictions of the canonical epidemiological model of technology diffusion are that forums to share information and higher returns to...

Many subjects in lab experiments exhibit small-stakes risk aversion, consistent with loss aversion. Those with greater math skills are less likely to show small-stakes risk aversion. We argue that departures from expected utility maximization may help explain why many firms in developing...