Rounding is a common phenomenon when subjects provide an answer to an open-ended question, both in experimental tasks and in survey responses. From a statistical perspective, rounding implies that the measured variable is a coarsened version of the underlying continuous target variable. Since...

Experimental studies of search behavior suggest that individuals stop searching earlier than the optimal, risk-neutral stopping rule predicts. Two different classes of decision rules could generate this behavior: rules that are optimal conditional on utility functions departing from risk...

The role of trust in promoting economic activity and societal development has received considerable academic attention by social scientists. A popular way to measure trust at the individual level is the so-called "investment game" (Berg et al., 1995). It has been widely noted, however, that risk...

While there are many methods to measure the competitiveness of an economy, most of these concepts ignore the fact that competitiveness can change not only because of market processes such as wage negotiation but also because of political decision making. Governments that compete with others for...

Summary Saving decisions are complex, since there are many concurrent motives for saving a portion of one’s income. However, while the existing literature covers all of these motives, most contributions select only one of them as a focus and relegate the others to the background by making...