Working Papers

WP 2019_04 Endogenous Choice of Institutional Punishment Mechanisms to Promote Social Cooperation

Posted On September 12, 2019
Categories Working Papers, WP 2019

Download Paper

ABSTRACT: Does the desirability of social institutions for public goods provision depend on the extent to which they include mechanisms for endogenous enforcement of cooperative behavior? We consider alternative institutions that vary the use of direct punishments to promote social cooperation. In one institution, subjects participate in a public goods… more »

WP 2019_03 The Behavioral Welfare Economics of Insurance

Download Paper

Published in 2019 in The Geneva Risk and Insurance Review, Volume 44, Issue 2.

ABSTRACT: Behavioral economics poses a challenge for the welfare evaluation of insurance products and policy. It demands that we recognize that the descriptive account of behavior toward insurance depends on risk and time preferences that might… more »

WP 2019_02 Behavioral Insurance and Economic Theory: A Literature Review

Download Paper

Published in 2019 in Risk Management & Insurance Review, Volume 22.

ABSTRACT: Decisions to purchase insurance should be a perfect place to see economic theory at work in general, and behavioral economics at work in particular. We have well‐developed theories of the demand for, and welfare evaluation of, insurance products.… more »

WP 2019-01 Statistical Power and the Individual Level Estimation of Risk Preferences

Posted On March 26, 2019
Categories Working Papers, WP 2019

Download Paper

ABSTRACT: Accurately estimating risk preferences is of critical importance when evaluating data from many economic experiments or behavioral interactions. I conduct power analyses over two lottery batteries designed to classify individual subjects as one of a number of alternative specifications of risk preference models. I propose a conservative case in which… more »

WP 2018-06 Eye-Tracking and Economic Theories of Choice Under Risk

Download Paper

Forthcoming – Journal of the Economic Science Association

ABSTRACT: We examine the ability of eye movement data to help understand the determinants of decision making over risky prospects. We start with structural models of choice under risk, and use that structure to inform what we identify from the use of… more »

WP 2018-04 Do People Bundle Sequences of Choices? An Experimental Investigation

Posted On July 16, 2018
Categories Working Papers, WP 2018

Download Paper

ABSTRACT: Economists and psychologists have sought to model and explain both impulsive behavior and the costly but often successful mechanisms by which people control it. Ainslie [1975][1992][2001] suggests that self-control is often achieved on account of a phenomenon he calls “choice bundling.” This refers to re-framing of series of discrete… more »