We ananlyze general equilibrium effects of hyperbolic discounting among unemployed workers in search equilibrium. We show that hyperbolic discounting changes the workers' trade-off between high wages and a high exit rate from unemployment, thus influencing the behavior of firms. More...

Institutions that serve the interests of an elite are often cited as an important reason for poor economic performance. This paper builds a model of institutions that allocate resources and power to maximize the payoff of an elite, but where any group that exerts sufficient fighting effort can...

We conduct an experiment to explore the time-consistency of risk preferences in a multi-period betting game. Specifically, subjects planned their contingent betting decisions in advance then played the game dynamically later to determine whether their respective decisions matched. We find that...

This paper presents empirical findings on gender differences in time preference and inconsistency based on international, high-level chess panel data with a large number of observations, including a control for ability. Due to the time constraint in chess, it is possible to study performance and...

In spite of increased awareness of HIV/AIDS, high levels of sexual risk taking persist among individuals in HIV susceptible groups. The lack of behavioral change has long puzzled both researchers and policy makers. In this paper, an attempt is made to disentangle mechanisms underlying excessive...