This paper presents and analyzes the results of a decision‐making experiment in inventory management under uncertainty. The experiment included 81 participants who played the role of a small car importer facing random demand as in the (Q,R) model. The results show strong evidence of learning...

This paper examines the effect of optimism bias on monetary time preference and risk tolerance. The results of a survey show that preference towards the present increases with optimism bias. I argue that the factor which affects time preference is the individual’s concern regarding future...

The current field study uses data collected after the 2009 war between Israel and the Hamas militias in the Gaza Strip ended. The study compares recalled emotions and perceived risks among two groups of students, all of whom were exposed to rocket attacks. Individuals in the ``left the war...

The current field study examines emotions, evoked by a fire disaster, and economic expectations of people who were exposed to a fire disaster in Israel. We find that negative emotions are correlated with expectations regarding the economic self-improvement, as well as expectations for national...

The current field study compares the time preferences of young adults of similar ages but in two very different environments, one more dangerous and uncertain than the other. Soldiers, college students and a control group of teenagers answered questionnaires about their time preferences. During...