We examine the additivity of stock-market expectations over different time intervals. When asked about a ten-year interval, survey respondents expect a stock-price change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the...

The rational expectations assumption, e.g. in life-cycle models and portfolio-choice models, prescribes that all actions are in line with a well-structured and unbiased system of expectations. In reality, justification and identification of expectations are nontrivial, and we lack empirical...

We consider the trade-off between talking and listening in a laboratory experiment where two team members need to coordinate on the use of an information channel. Each team member indicates their preference to "talk" and share her own information with her teammate, or to "listen" and obtain...

Arrivals of crises often trigger public appeals by policy leaders, attempting to motivate crisis-mitigating behaviors. We run a controlled experiment among a general-population sample to investigate the impact of such appeals and of their tonality. Varying the language, an identical content of...

Game-theoretic analyses of communication rely on beliefs – especially, the receiver's belief about the truth status of an utterance and the sender's belief about the reaction to the utterance – but research that provides measurements of such beliefs is still in its infancy. Our experiment...

We examine the additivity of stock-market expectations over different time intervals. When asked about a ten-year interval, survey respondents expect a stock-price change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the...

Wage growth occurs almost exclusively in full-time work, whereas it is close to zero in part-time work. German women, when asked to predict their own potential wage outcomes, show severely biased expectations with strong over-optimism about the returns to part-time experience. We estimate a...