We study the relationship between the cognitive load manipulation and strategic sophistication. The cognitive load manipulation is designed to reduce the subject's cognitive resources that are available for deliberation on a choice. In our experiment, subjects are placed under a large cognitive...

Previous work has demonstrated that memory for simple stimuli can be biased by information about the category of which the stimulus is a member. These biases have been interpreted as optimally integrating noisy sensory information with category information. A separate literature has demonstrated...

We examine whether the predictions of minimax in zero-sum games holds under highly incentivized conditions with highly informed informed decision makers. We examine data from 3455 National Football League (NFL) games from the 2000 season through the 2012 season. We categorize every relevant play...

We identify a largely efficient market in which racial biases affect market outcomes. Examining data on NBA games, we show that teams with more black players tend to face larger point spreads and that these teams perform worse against the spread. These biased outcomes are significantly large and...

We study the relationship between the cognitive load manipulation and strategic sophistication. The cognitive load manipulation is designed to reduce the subject's cognitive resources that are available for deliberation on a choice. In our experiment, subjects are placed under a high cognitive...

It is well-known that subjects can exhibit a preference for increasing payments. Smith (2009a) makes a related prediction that the difference between the preference increasing wage payments and the preference for increasing non-wage payments will be largest for intermediate payments. We find...

Previous work demonstrates that memory for simple stimuli can be biased by information about the category of which the stimulus is a member. Specifically, stimuli with values greater than the category’s average tend to be underestimated and stimuli with values less than the average are...

We investigate the strategic behavior of highly informed agents playing zero-sum games under highly incentivized conditions. We examine data from 3455 National Football League (NFL) games from the 2000 season through the 2012 season, and categorize each play as "rush" or a "pass." We find that...

It is well-known that laboratory subjects often do not play mixed strategy equilibrium games according to the equilibrium predictions. In particular, subjects often mix with the incorrect proportions and their actions often exhibit serial correlation. However, little is known about the role of...

Duffy, Huttenlocher, Hedges, and Crawford (2010) [Psychonomic Bulletin & Review, 17(2), 224-230] report on experiments where participants estimate the lengths of lines. These studies were designed to test the Category Adjustment Model (CAM), a Bayesian model of judgments. CAM predicts that there...