Chen, M. Keith; Lakshminarayanan, Venkat; Santos, Laurie - Cowles Foundation for Research in Economics, Yale University - 2005
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects — capuchin monkeys. By introducing a fiat currency and trade to a capuchin...