Economics is often taught at a level of abstraction that can hinder some students from gaining basic intuition. However, lecture and textbook presentations can be complemented with classroom exercises in which students make decisions and interact. The approach can increase interest in, and...

Considerable evidence has accumulated which shows that the choice behavior of individuals exhibits systematic departures from expected utility maximization. The focus of the paper is to develop some measures of the extent to which utility maximization nevertheless remains a useful approximation....

In an experiment comparing two-person bargaining and multiperson markets in Israel, Japan, the United States, and Yugoslavia, market outcomes converged to equilibrium everywhere, with no payoff-relevant differences between countries. Bargaining outcomes were everywhere different from equilibrium...

Laboratory data from bargaining experiments have started a debate about the prospects for various parts of game theory as descriptive theories of observable behavior and about whether, to what extent, and how a successful descriptive theory must take into account peoples' perceptions of...

As knowledge discovery (KD) matures and enters the mainstream, there is an onus on the technology developers to provide the technology in a deployable, embeddable form. This transition from a stand-alone technology, in the control of the knowledgeable few, to a widely accessible and usable...