This paper develops an axiomatic framework for decision making when preferences depend not only on the current alternative but also on the past frequency with which alternatives have been chosen. We identify key independence axioms that characterize frequency-dependent preferences. In addition,...

Advice plays a central role in health, personal finance, and energy-efficiency decisions. We study how a benevolent expert should design verifiable advice - such as whether to commission a diagnostic test of different accuracy - when the agent is behaviorally biased, either neglecting...

We test whether a conditional cash lottery targets prevention on those doing too little because of inverse-S probability distortion that also causes overvaluation of a lottery. Consistent with theory, Filipinos perceiving their cardiovascular disease (CVD) risk in a wide intermediate interval...