We introduce an information provision experiment into a standard dynamic rational inattention model. We derive analytical results about how the treatment effect varies with characteristics of the environment and the individual. We use these results to discuss findings in the empirical literature...

Elites disproportionately influence policymaking, yet little is known about their fairness and efficiency preferences - key determinants of support for redistributive policies. We investigate these preferences using an incentivized lab experiment with a group of future elites - Ivy League MBA...

Qualitative self-assessments of economic preferences have recently gained popularity, often supported by experimental validation, a method that links them to choices in incentivized elicitations. We illustrate theoretically that experimental validation may fail to produce reliable new measures....

Firm performance depends critically on the efficient allocation of tasks across employees. Yet, task assignment decisions are often shaped not only by productivity considerations but also by managerial biases and gender stereotypes-frequently resulting in women being disproportionately assigned...

Economic experiments have gained popularity in Agricultural Economics. However, challenges in recruitment and acceptance of experimental methods among farmers persist. Surveying 406 Swedish farmers, we explore farmers' attitudes toward different types and features of economic experiments. Only a...

This paper experimentally examines Max Weber's thesis on the influence of religious narratives - particularly the Protestant Ethic - on attitudes toward wealth redistribution. Weber argued that the Protestant Reformation fostered the belief that economic success signals divine favour, thereby...

Multiple Price Lists (MPLs) or Choice Lists (CLs) are widely used to elicit risk and time preferences, yet are prone to cognitive biases, particularly among respondents with limited numeracy skills. This paper compares three elicitation approaches; row-by-row from the top, from the bottom, and a...

We review the economic literature on self-image, which conceptualizes identity as a set of beliefs about one's core traits, values, goals, and social ties. Self-image concerns lead individuals to process information and make choices in non-standard ways that help affirm and protect certain...

Mainstream experimental economics is characterized by its focus on theory testing and "treatment effects" on aggregate outcomes. The "agentic" alternative is concerned with the econometric specification of individual behavior. In this essay, first, a literature review of agentic experimental...

This paper experimentally examines the interplay between focal points, beliefs, and distributional preferences. Contrary to common wisdom, there is no detectable evidence that equal splits act as salient focal points in distributional voting contexts. Participants mispredict others' preferences:...

Experimental asset markets provide a controlled approach to studying financial markets. We attempt to replicate 17 key results from four prominent studies, collecting new data from 166 markets with 1,544 participants. Only 3 of the 14 original results reported as statistically significant were...

We introduce DOSE - Dynamically Optimized Sequential Experimentation - to elicit preference parameters. DOSE starts with a model of preferences and a prior over the parameters of that model, then dynamically chooses a customized question sequence for each participant according to an...

Experimental asset markets provide a controlled approach to studying financial markets. We attempt to replicate 17 key results from four prominent studies, collecting new data from 166 markets with 1,544 participants. Only 3 of the 14 original results reported as statistically significant were...

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

We introduce an alternative approach to experimental design aimed at collecting data for parametric estimation of the cumulative form of Prospect Theory (PT). Our approach incorporates two fundamental principles: ensuring that all tasks provide valuable information and avoiding redundancy among...

The emergence of experimental economics laboratories is tied to adopting computers as key instruments for conducting experimental research in economics. Various ways in which computer technology as a new form of material culture in experimental economics changed the practice of economics...

Over the past decades psychological theories have made significant headway into economics, culminating in the 2002 (partially) and 2017 Nobel prizes awarded for work in the field of Behavioural Economics. Many of the insights imported from psychology into economics share a common trait: the...

In this paper, we investigate how technology has contributed to experimental economics in the past and illustrate how experimental economics can contribute to technological progress in the future. We argue that with machine learning (ML) a new technology is at hand, where for the first time...