The DSMC (direct simulation Monte Carlo) method for rarefied gas dynamics is studied. The behaviour of the underlying stochastic particle system is determined by three main components – the time step between subsequent collisions, the random mechanism for the choice of the collision partners,...

We use data from a television game show, involving elementary lotteries and substantial prize money, as a natural experiment to measure risk attitudes. We find robust evidence of substantial risk aversion. As an extension, we esimate the various models using transformations of the ‘true’...

This paper studies public good provision in the laboratory using the voluntary contribution mechanism, in a cross-cultural experiment conducted in the United States and Japan. Our environment differs from the standard voluntary contribution mechanism because in one treatment, subjects first...

We compare the random preference, Fechner, and constant error (or "tremble") approaches to the stochastic modelling of choice under risk. Various combinations of these approaches are used with expected utility and rank-dependent theory to generate a set of econometric models. These are estimated...

Recent years have witnessed a growth of interest in experimental economics. Indeed, it has become a rather influential project. Somewhat surprisingly, although it is a project unqeustionably concerned with method, it appears to have generated very little sustained methodological discussion....

In this paper we analyse the problem of modelling individual transitions in the presence of an incomplete sampling scheme. This problem is particularly cumbersome when a continuous time-scale is used for the modelling and when the model incorporates unobserved heterogeneity. This problem arises,...

We use data from a television game show involving elementary lotteries and sSubstantial prize money as a natural experiment to measure risk attitudes.We find robust evidence of substantial risk aversion.