We propose a flexible method to approximate the subjective cumulative distribution function of an economic agent about the future realization of a continuous random variable. The method can closely approximate a wide variety of distributions while maintaining weak assumptions on the shape of...

We analyze a durable-goods monopoly selling a single unit of a good to a buyer whose value of the good is private information. The discount factors of the buyer and the seller may differ and are also privately known. We derive the closed-form solution of a two-period game and compare it to the...

We combine choice data in the ultimatum game with the expectations of proposers elicited by subjective probability questions to estimate a structural model of decision making under uncertainty. The model, estimated using a large representative sample of subjects from the Dutch population, allows...

Abstract We specify and estimate an econometric model which separately identifies the effects of distributional preferences and penalizing unfair proposer behavior ("perceived intentions") on responder decisions in the ultimatum game. We allow the effects of perceived intentions to depend, among...

We propose a flexible method to approximate the subjective cumulative distribution function of an economic agent about the future realization of a continuous random variable. The method can closely approximate a wide variety of distributions while maintaining weak assumptions on the shape of...