AUTHOR: Morten I. Lau & Hong Il Yoo
ABSTRACT: The structural measures of higher order risk attitudes have well-developed foundations in Expected Utility Theory (EUT), but little is known about their empirical magnitudes. We propose a novel experimental design to study third and fourth order risk attitudes, known as prudence… more »
AUTHOR: Enrica Carbone, Vinayak V. Dixit and E. Elisabet Rutström
ABSTRACT: When imposing traffic congestion pricing around downtown commercial centers, there is a concern that commercial activities will have to consider relocating due to reduced demand, at a cost to merchants.… more »
AUTHOR: Don Ross
ABSTRACT: The rise of behavioral economics since the 1980s led to richer mutual influence between economic and psychological theory and experimentation. However, as behavioral economics has become increasingly integrated into the main stream in economics, and as psychology has remained damagingly methodologically conservative, this convergence has recently… more »
AUTHORS: Linda Andersson Järnberg, Daniela Andrén, Lars Hultkrantz, E. Elisabet Rutström and Elin Vimefall
ABSTRACT: A frequent finding in the empirical literature on cost-benefit analysis of traffic safety measures is that valuations of public goods are lower than valuations of private goods, contrary to theory predictions. This study elicits the willingness… more »
AUTHORS: Don Ross, Wynn C. Stirling and Luca Tummolini
ABSTRACT: Most social scientists agree that informal norms constrain available equilibria in most human interactions. However, they do not agree on how to model them: economists often make them derivative of individual preferences, while a broader tradition in social theory understands them… more »
AUTHORS: Don Ross
ABSTRACT: Wade Hands (2013) critically consolidated a new and growing approach to revealed preference interpretations and methods, which he called “Contemporary Revealed Preference Theory” (CRPT). He recognised that CRPT is folded into a more comprehensive philosophy of economics due to Don Ross, which Ross dubs “Neo-Samuelsonian Philosophy of… more »
Forthcoming, Journal of Risk and Uncertainty
AUTHORS: Arianna Galliera and E. Elisabet Rutström
ABSTRACT: Not much is known about the heterogeneity of risk attitudes among poor households in rich countries. This paper provides estimates from a unique data set collected among the urban poor in Atlanta,… more »
Published in 2021 in Experimental Economics.
AUTHORS: Aleksandr Alekseev
ABSTRACT: I study the effect of task difficulty on workers’ effort. I find that task difficulty has an inverse-U effect on effort and that this effect is quantitatively large, especially when compared to the effect of conditional monetary rewards. Difficulty acts as… more »
Forthcoming, Journal of Political Economy
AUTHORS: Glenn W. Harrison, Don Ross and J. Todd Swarthout
ABSTRACT: The measurement of intelligence should identify and measure an individual's subjective confidence that a response to a test question is correct. Existing measures do not do that, nor do they use extrinsic financial incentive for… more »
