How do people form beliefs about novel risks, with which they have little or no experience? Motivated by survey data on beliefs about COVID we collected in 2020, we build a model based on the psychology of selective memory. When a person thinks about an event, different experiences compete for...

We present the GABRIEL software package, which uses GPT to quantify attributes in qualitative data (e.g. how "pro innovation" a speech is). GPT is evaluated on classification and attribute rating performance against 1000+ human annotated tasks across a range of topics and data. We find that GPT...

Why do we see both advertising and powerful consumer habits for well-known and intrinsically similar brands? We offer an explanation based on the idea that, as in Bordalo et al. (2020), a consumer is more likely to demand a good if she recalls the pleasure it gave her in the past. In turn, the...

The analysis of corporate governance begins with a central feature of modern capitalism--the separation of ownership and control in large corporations--first empirically documented by Berle and Means (1932). Such separation entails several agency problems reflecting conflicts between managers...

We present a theory of decisions in which attention to the features of choice options is determined by the decision maker's categorization of the current choice problem in a set of problems she solved in the past. Categorization depends on goal-relevant as well as contextual problem-level...