Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A...

Individuals bring effort to a group to achieve a common objective. Group membership introduces a free-riding incentive, reducing effort, as well as a sense of social responsibility, increasing effort. We show experimentally that the free-riding effect is stronger. Group members significantly...

Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A...

Individuals bring effort to a group to achieve a common objective. Group membership introduces a free riding incentive, reducing effort, as well as a social responsibility incentive, increasing effort. This paper shows that the free riding effect is stronger. Individuals significantly reduce...

Using paper and pencil experiments administered in senior centers, we examine decision-making performance in multi-attribute decision problems. We differentiate the effects of declining cognitive performance and changing cognitive process on decision-making performance of seniors as they age. We...

Using controlled experiments, we examine how individuals make choices when faced with multiple options. Choice tasks are designed to mimic the selection of health insurance, prescription drug, or retirement savings plans. In our experiment, available options can be objectively ranked, allowing...

We examine theoretically and experimentally two countervailing effects of collusion and symmetric mergers among bidders. On one hand, the pooling of information within bidding rings increases the precision of competing estimates. We demonstrate that, in average value auctions, this leads to more...