Ranking information is often provided to improve task performance, yet its welfare and spillover effects are rarely measured. We measure these effects in a controlled laboratory experiment, in which participants conduct a simple cognitive task and report their willingness-to-pay (WTP) to receive...

The future is inherently more uncertain than the present. Existing literature has shown that people act impatiently or in a time-inconsistent manner at least partly because of their aversion to future risk. While such intuition could be fully captured by standard economic models, the current...

Natural disasters give rise to loss and damage and may affect subjective expectations about the prevalence and severity of future disasters. These expectations might then in turn shape individuals’ investment behaviors, potentially affecting their incomes in subsequent years. As part of an...

Does social learning and subsequent private information processing differ depending on whether the observer shares the same group identity as the predecessor whose actions are observed? In this paper, we conduct a lab experiment to answer this question, in which subjects first observe a social...