The paper presents evidence that validate the focusing illusion. Specifically, the forecasted impact of a basketball championship on students’ subjective well-being was exaggerated because of their intense focus on the event. However, the self-reported states of being for life domains not...

The relevance of projection bias in decision making processes has been widely studied, but not specifically in experimental auctions. We study the role of projection bias in experimental auctions by examining the bidding behavior of hungry and non-hungry subjects on food products delivered...

We explore the relevancy of subjects' risk preferences recovered using a subjective risk question to those recovered from the incentivized lottery experiments of Holt and Laury (2002), Gneezy and Potters (1997), and Johnson and Webb (2016). While a statistically significant relationship between...

Individual choice exhibits "presentation effects" such as default, ordering and round-number effects. Using existing models, presentation effects bias utility estimates, which suggests instability of preferences and obscures behavioral patterns. This paper derives a generalized model of...

Regulators of artificial intelligence (AI) emphasize the importance of human autonomy and oversight in AI-assisted decision-making (European Commission, Directorate-General for Communications Networks, Content and Technology, 2021; 117th Congress, 2022). Predictions are the foundation of all AI...

The Ellsberg urn is conventionally used in experiments to measure ambiguity attitudes, yet there is no uniformity in the method for producing Ellsberg urns, which complicates the comparability of results across studies. By surveying 69 experimental studies, we distill four different methods of...

Cellular manufacturing (CM) is an important application of group technology (GT) that can be used to enhance both flexibility and efficiency in today’s small-to-medium lot production environment. The crucial step in the design of a CM system is the cell formation (CF) problem which involves...

The aim of this work is presenting in a self-contained paper some methodological aspects as they are received in the current experimental literature. The purpose has been to make a critical review of some very influential papers dealing with methodological issues. In other words, the idea is to...