We extend the basic model of spatial competition in two directions. First, political parties and voters do not have complete information but behave adaptively. Political parties use polls to search for policy platforms that maximize the probability of winning an election and the voting decision...

This short paper investigates the consequences of voters identifying with special interest groups in a spatial model of electoral competition. We show that, by effectively coordinating voting behavior, identification with interest groups leads to an increase in the size of the winning set, that...

We conduct experiments in which humans repeatedly play one of two games against a computer decision maker that follows either a reinforcement learning or an Experience Weighted Attraction algorithm. Our experiments show these learning algorithms more sensitively detect exploitable opportunities...

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Measures of risk attitudes derived from experiments are often questioned because they are based on small stakes bets and do not account for the extent to which the decision-maker integrates the prizes of the experimental tasks with personal wealth. We exploit the existence of detailed...

The recent regulatory changes enacted by the Centers for Medicare and Medicaid Services (CMS) have identified hospital readmission rates as a critical healthcare quality metric. This research focuses on the utilization of pay-for-performance (P4P) mechanisms to cost effectively reduce hospital...

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Countries around the world are concerned with corruption as it potentially undermines confidence in government and may reduce the efficiency of public goods provision. While there has been a significant amount of research devoted to identifying the causes of corruption there has been little...

A growing literature reports the conclusions that: (a) expected utility theory does not provide a plausible theory of risk aversion for both small-stakes and large-stakes gambles; and (b) this decision theory should be replaced with an alternative theory characterized by loss aversion. This...

Weber, Shafir, and Blais (2004) advocate use of the coefficient of variation (CV) as a measure of risk sensitivity and apply CV in a meta-analysis of data for risky choices by humans and animals. We critically re-examine the CV measure as either a normative or descriptive criterion for decision...