We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of observable choice data

Traditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. A seminal paper in economics (1) however did not find any effect of culture on savings. We revisit...

The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying...

We review the vast literature on social preferences by assessing what is known about their fundamental properties, their distribution in the broader population, and their consequences for important economic and political behaviors. We provide, in particular, an overview of the empirically...

This paper studies how wealth and health inequalities have interacted with the Covid-19 epidemic in a way that has reinforced inequalities in income, savings, epidemic risk and even individual preventive behaviors. We present in more detail two papers and their theoretical and empirical results....

Adopted on September 8 of 2000, the United Nations Millennium Declaration stated as its first goal that countries "…[further] resolve to halve, by the year 2015, the proportion of the world's people whose income is less than one dollar a day and the proportion of people who suffer from...

We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...

There is hardly any study on learning inequalities during the COVID-19 pandemic in a low-income, multi-country context. Analyzing 34 longitudinal household and phone survey rounds from Burkina Faso, Ethiopia, Malawi, Mali, Nigeria, Tanzania, and Uganda, we find that while countries exhibit...

Despite a rich literature studying the impact of inequality on policy outcomes, there has been limited effort to bring these insights into the debates about comparative support for government responses to the COVID-19 pandemic. We fill in this gap by analyzing rich survey data from six countries...

Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence...