It has been long recognized that different people may use different strategies, or decision rules, when playing games or dealing with other complex decision problems. We provide a new Bayesian procedure for drawing inferences about the nature and number of decision rules that are present in a...

We present results from laboratory experimental elections in which voter information is endogenously provided by candidates and voting is voluntary. We also compare advertisements that are costless to voters with those that reduce voter payoffs. We fi?nd that informative advertisements increase...

Research in economics and psychology has established that informal sanctions,particularly expressions of negative emotion, can enforce fair economic exchange. However, scholars are only beginning to understand the reasons informal sanctions affect economic outcomes. Here we provide direct...

A long literature in psychology, as well as a more recent theory literature in economics, suggests that prolonged exposure to a tempting stimulus can eventually lead people to "succumb" to that temptation. Here we develop a model for decision under temptation, and test its predictions using data...

The relationship between trust and risk is a topic of enduring interest. Although there are substantial differences between the ideas the terms express, many researchers from different disciplines have pointed out that these two concepts become very closely related in personal exchange contexts....

We use a laboratory experiment to investigate the effect that assuming rational expectations has on structural inference in a dynamic discrete choice decision problem. Our experimental design induces preferences up to each subject’s subjective rates of time preference, leaving...

Acts of dishonesty permeate life. Understanding their origins, and what mechanisms help to attenuate such acts is an underexplored area of research. This study takes an economics approach to explore the propensity of individuals to act dishonestly across different economic environments. We begin...

We use laboratory experiments to investigate the effect that assuming rational expectations has on structural inference in a dynamic discrete decision problem. Our design induces preferences up to the subjective rate of time preference, leaving unrestricted both this parameter and subjects’...