The acknowledged importance of uncertainty in economic decision making has stimulated the search for neural signals that could influence learning and inform decision mechanisms. Current views distinguish two forms of uncertainty, namely risk and ambiguity, depending on whether the probability...

This paper compares the social norms of distributive transfers within village communities in the north and south of Vietnam by analyzing household survey and experimental data. The results of household data analysis show private transfers flow from high-income households to low-income households...

The reproducibility of scientific findings has been called into question. To contribute data about reproducibility in economics, we replicate 18 studies published in the American Economic Review and the Quarterly Journal of Economics in 2011-2014. All replications follow predefined analysis...

Neuroeconomics uses knowledge about brain mechanisms to inform economic analysis, and roots economics in biology. It opens up the "black box" of the brain, much as organizational economics adds detail to the theory of the firm. Neuroscientists use many tools— including brain imaging, behavior...

Market experiments designed to test whether individual errors are reduced by markets generally indicate that errors do make prices or trading volume irrational. For example, in markets for assets of uncertain value a "representativeness"- based theory predicts deviations of prices from Bayesian...

Linear models which fit regression equations to clinical judgments. then use the fitted parts of judgments as "bootstrapped" judgments, have outperformed clinical judgments in many tasks. Empirically, the phenomenon has been pervasive, but general conditions for the success of bootstrapping...

Commodity options are the right to buy or sell a specified quantity of a commodity, or commodity futures contract, at a specified price. The publicity surrounding several "boiler room" scams involving unwary buyers has given commodity options a bad name. Currently, only a handful of firms sell...