Respondents in choice experiments (CEs) may ignore some of the attributes presented to them when evaluation alternatives in a choice task, which has been referred to as attribute non-attendance (ANA). Previous studies have shown that ANA may impact both the model fit as the WTP estimates for the...

This paper gives a general mathematical definition of an institution, and presents an explicit formal method by which to incorporate institutions in a standard general equilibrium model. We illustrate our concept using a modified Prisoner's dilemma game in which property rights over natural...

Advances in biomedical technology have irrevocably jarred open the black box of human decision making, offering social scientists the potential to validate, reject, refine and redefine the individual models of resource allocation that form the foundation of modern economics. In this paper we (1)...