Neuroeconomics uses knowledge about brain mechanisms to inform economic analysis, and roots economics in biology. It opens up the "black box" of the brain, much as organizational economics adds detail to the theory of the firm. Neuroscientists use many tools— including brain imaging, behavior...

This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by non-normative cues, we present three studies showing that in some cases people do not even have...

Over the past several decades, economists, psychologists, and neuroscientists have conducted experiments in which a subject, human or animal, repeatedly chooses between alternative actions and is rewarded based on choice history. While individual choices are unpredictable, aggregate behavior...

This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by non-normative cues, we present three studies showing that in some cases people do not even have...

We consider the problem of defining all possible Bayesian truth serums for agents represented by a singly connected network (a tree graph). Agents receive signals according to a probability distribution that is common knowledge and that matches the network structure. The planner knows the...

Online platforms have the unique ability of offering virtually unlimited assortments. However, they often assume frictionless conditions in the purchase process which may not always hold in practice. We study the impact of heterogeneous search costs on the formation of consideration sets, and...