We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...

This paper proposes a social utility model of individual preferences for process fairness that complements the Fehr-Schmidt model for outcome fairness. The model assumes that the outcome generating process rather than the actual outcomes influences fairness perceptions, and that process fairness...

This paper finds preference reversals in measurements of ambiguity aversion, even if psychological and informational circumstances are kept constant. The reversals are of a fundamentally different nature than the reversals found before because they cannot be explained by context-dependent...