Although reference dependence plays a central role in explaining behavior, little is known
about the way that reference points are selected. This paper identifies empirically which …

Shared parking allows the effective use of undersupplied parking spaces and contributes to
the alleviation of urban parking problems, traffic congestion, environmental pollution, and …

Abstract We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating
structural models using the full set of CPT parameters. Much of the literature only estimates a …

The canonical conclusion from research on age differences in risky choice is that older
adults are more risk averse than younger adults, at least in choices involving gains. Most of …

Cross-efficiency evaluation methods have long been suggested as an alternative for the
ranking of decision making units (DMUs) in data envelopment analysis (DEA). So far, little …

We propose the use of Bayesian estimation of risk preferences of individuals for applications
of behavioral welfare economics to evaluate observed choices that involve risk. Bayesian …

Intensive care unit (ICU) readmissions of critically ill patients result in significant increases in
mortality rates and costs, but most readmissions could be avoided. Therefore, the medical …

Computational modeling of cognition allows latent psychological variables to be measured
by means of adjustable model parameters. The estimation and interpretation of the …

Gender differences in decision making is a topic that has attracted much attention in the
literature and the debate seems to be inconclusive. A method that is often used in the …

Abstract Bernheim and Sprenger (2020, Econometrica; SB) claimed to experimentally falsify
rank dependence in prospect theory. This paper criticizes SB's results and novelty claims …