Experimental economists currently lack a convention for how to pay subjects in experiments
with multiple tasks. We provide a theoretical framework for analyzing this question …

Using a laboratory experiment, we identify whether decision-makers consider it a mistake to
violate canonical choice axioms. To do this, we incentivize subjects to report axioms they …

We use experiments to test the incentive compatibility of the “random problem selection”
payment mechanism, in which only one choice out of many is randomly chosen for payment …

Risk tolerance decreases from Monday to Thursday and increases on Friday. Antecedents of
this weekly risk cycle are difficult to investigate experimentally as manipulating the seven …

Using a revealed preference approach, we conduct an experiment where subjects make
choices from linear convex budgets in the domain of risk. We find that many individuals …

Overwhelming evidence from the cognitive sciences shows that, in simple discrimination
tasks (determining what is louder, longer, brighter, or even which number is larger) humans …

Influential economic approaches as random utility models assume a monotonic relation
between choice frequencies and “strength of preference,” in line with widespread evidence …

Monetary incentives remain an integral component of economics experiments. However, the
experimental economics literature is inconclusive when it comes to the effectiveness of …

Machine learning algorithms can find predictive signals that researchers fail to notice; yet
they are notoriously hard-to-interpret. How can we extract theoretical insights from these …

We provide a novel but intuitive explanation for expected utility violations found in the Allais
paradox: individuals are commonly averse to receiving nothing. We call this phenomenon …