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The supply of deceased donor organs is a limiting factor for transplantation based therapies. This research utilizes a laboratory experiment to evaluate the effectiveness of alternative public policies targeted at increasing the rate of deceased donor organ donation. The experiment includes...

Developments in the theory of risk require yet another evaluation of the behavioral validity of the independence axiom. This axiom plays a central role in most formal statements of expected utility theory, as well as popular alternative models of decision-making under risk, such as...

We evaluate the binary lottery procedure for inducing risk neutral behavior. We strip the experimental implementation down to bare bones, taking care to avoid any potentially confounding assumption about behavior having to be made. In particular, our evaluation does not rely on the assumed...

There is perhaps no more important question in public finance than who ultimately bears the burden of a tax. According to tax incidence theory, the long-run incidence of a tax in competitive markets is independent of the assignment of the liability to pay tax. Moreover, the theory is silent on...

Theories of decision under risk that challenge expected utility theory model risk attitudes at least partly with transformation of probabilities. We explain how attributing risk aversion (partly or wholly) to attitude towards probabilities, can produce extreme probability distortions that imply...

Social dilemmas characterize decision environments in which individuals' exclusive pursuit of their own material self-interest can produce inefficient allocations. Two such environments are those characterized by public goods and common-pool resources in which the social dilemmas can be...

Experiments on choice under risk typically involve multiple decisions by individual subjects. The choice of mechanism for selecting decision(s) for payoff is an essential design feature that is often driven by appeal to the isolation hypothesis or the independence axiom. We report two...

The most popular experimental method for eliciting time preferences involves subjects making choices over smaller, sooner amounts of money and larger, later amounts of money. Under some theoretically possible configurations of preferences and procedures, the discount rates inferred from these...

This paper tests for racial discrimination in the rental housing market using matched pair audits conducted via e-mail for rental units advertised on-line. We reveal home-seekers' race to landlords by sending e-mails from names with a high likelihood of association with either whites or African...