In the era of rapidly advancing artificial intelligence (AI), understanding to what extent people rely on generative AI products (AI tools), such as ChatGPT, is crucial. This study experimentally investigates whether people rely more on AI tools than their human peers in assessing the...

In this paper, we reexamine a bias revealed by Kunz et al. (2017) regarding structured financial products known as barrier reverse convertibles (BRCs) with worst-of payout characteristics. Namely, using a nonincentivized survey of investor risk perceptions, Kunz et al. (2017) found that when...

In this paper, we provide an empirical analysis of evolving networks of successful R&D collaborations in the IT industry in the U.S. between 1985 and 1995. We first show that the network has become more extensive, more clustered, and more unequal in the sense that 'stars' have emerged in the...

How much of the failures to achieve Pareto efficient outcome observed in a simple 2 x 2 dominance solvable game can be attributed to strategic uncertainty and how much is actually due to individual bounded rationality? We address this question by conducting a set of experiments involving two...

In this paper we report the results of a repeated experiment in which a central bank buys bonds for cash in a quantitative easing (QE) operation in an otherwise standard asset market setting. The experiment is designed so that bonds have a constant fundamental value which is not affected by QE...