ABSTRACT. Procrastination encapsulates all of the features of apparently time-inconsistent preference that make addiction and related consumption anomalies challenging phenomena for modeling by economists. A common but ultimately unsatisfying response to this challenge has been for economists to try to capture what they perceive to be a… more »
Published in 2011 in Journal of African Economies, Volume 20, Issue 4.
AUTHOR: Glenn W. Harrison
ABSTRACT. Randomised control trials have become popular tools in development economics. The key idea is to exploit deliberate or naturally occurring randomisation of treatments in order to make causal inferences about ‘what works’ to promote… more »
ABSTRACT. This paper tests the proposition that higher tournament incentives will result in greater risk taking by senior managers in order to increase their chance of promotion to the rank of CEO. Measuring tournament incentives as the pay gap between the CEO and the next layer of… more »
ABSTRACT. The most popular experimental method for eliciting time preferences involves subjects making choices over smaller, sooner amounts of money and larger, later amounts of money. Under some theoretically possible configurations of preferences and procedures, the discount rates inferred from these choices could lead to… more »
ABSTRACT. Abdellaoui, Baillon, Placido and Wakker  conclude that different probability weighting functions are used when subjects face risky processes with known probabilities and uncertain processes with subjective processes. They call this “source dependence,” where the notion of a source is relatively easy to identify in the context of… more »
Published in 2015 in Experimental Economics, Volume 18, Issue 2.
AUTHORS: James C. Cox, Vjollca Sadiraj, and Ulrich Schmidt
ABSTRACT. Experiments on choice under risk typically involve multiple decisions by individual subjects. The choice of mechanism for selecting decision(s) for payoff is an essential design feature unless subjects isolate each one of… more »
Published in 2011 in European Review of Agricultural Economics, Volume 38, Issue 3.
AUTHOR: Glenn W. Harrison
ABSTRACT. Policies impose lotteries of outcomes on individuals, since we never know exactly what the effects of the policy will be. In order to evaluate alternative policies, we need to make assumptions about individual preferences,… more »
ABSTRACT. This study tests two opposing views of institutional investors—monitoring versus expropriation--by investigating whether institutional ownership is positively or negatively related to future firm-specific stock price crash risk. We present robust evidence that institutional ownership is positively associated with future stock price crash risk. After further… more »