We consider a model of product differentiation where consumers are uncertain about the
qualities and prices of firms' products. They can inspect all products at zero cost. A share of …

We use four incentivized representative surveys to study the endowment effect for lotteries in
4,000 US adults. We replicate the standard finding of an endowment effect—the divergence …

A Bayesian agent experiences gain-loss utility each period over changes in belief about
future consumption (" news utility"), with diminishing sensitivity over the magnitude of news …

We study optimal auctions with expectation-based loss-averse bidders. First, we consider
the case of ex-ante identical bidders and establish sufficient conditions under which optimal …

This paper investigates whether tax evasion can be beneficial for an optimal income tax
schedule. Past theoretical discussions have presented mixed outcomes as to whether …

This paper investigates whether tax evasion can be beneficial for an optimal income tax
schedule. Past theoretical discussions have presented mixed outcomes as to whether …

A Bayesian agent experiences gain–loss utility each period over changes in belief about
future consumption (news utility) with diminishing sensitivity over the magnitude of news …