Are groups of people better able to minimize a collective loss if there is a collective target that must be reached or if every small contribution helps? In this paper we investigate whether cooperation in social dilemmas can be increased by structuring the problem as a step-level social dilemma...

Fast-and-frugal trees (FFTs) are simple algorithms that facilitate efficient and accurate decisions based on limited information. But despite their successful use in many applied domains, there is no widely available toolbox that allows anyone to easily create, visualize, and evaluate FFTs. We...

We apply the principles of the ``Wisdom of Crowds (WoC)'' to improve the calibration of interval estimates. Previous research has documented the significant impact of the WoC on the accuracy of point estimates but only a few studies have examined its effectiveness in aggregating interval...

Online marketplaces allow consumers to leave reviews about the products they purchase, which are visible to potential customers and competitors. While the impact of reviews on valuations of worth and purchasing decisions has been intensively studied, little is known about how the reviews...

Krupka and Weber (2013) introduce an incentive-compatible coordination game as an alternative method for elicitation of normative judgments. I show, however, that people provide virtually the same responses in incentivized and non-incentivized versions of the Krupka-Weber game. Besides ratings...

The problems of how self-interested players can cooperate despite incentives to defect, and how players can coordinate despite the presence of multiple equilibria, are among the oldest and most fundamental in game theory. In this report, we demonstrate that a plausible and even natural...

Six experiments investigated how the distance between one's initial opinion and advice relates to advice utilization. Going beyond previous research, we relate advice distance to both relative adjustments and absolute adjustments towards the advice, and we also investigate a second mode of...

This paper investigates choices about ``distributional fairness'' (sometimes called ``distributive justice''), i.e., selection of the proper way for resources to be distributed in group. The study finds evidence that several of the same biases of risky decision making also apply to choices about...

We conducted an experimental study on social preferences using dictator games similar to Fehr et al. (2008). Our results show that social preferences differ between subjects who receive low-stakes monetary rewards for their decisions and subjects who consider hypothetical stakes. Our findings...