Agents form expectations about the future in many markets, and these expectations drive investment and consumption behavior, inform entry and exit choices, and can even provide direct satisfaction or distress. How agents form expectations is therefore of central interest to economists. This...

The recent financial crisis has affected most countries. With cutbacks in business, trade and government spending, millions world-wide have lost their jobs, with young people disproportionately affected. This paper synthesizes the thoughts expressed during an interdisciplinary discussion held in...

We present a household production model that incorporates multitasking and results from a customized experiment designed to measure the individual-specific productivity parameters from this model. We observe these productivity parameters under alternative incentive scenarios, designed to mimic...

In this paper we compare three theories of utility formation: prospect theory, regret theory, and a combination which additionally allows for direct utility flows from positive expectations. We then test which of these theories best explains actual connections between health and welfare over...

We examine the nature of stated subjective probabilities in a complex, evolving context in which true event probabilities are not within subjects' explicit information set. Specifically, we collect information on subjective expectations in a car race wherein participants must bet on a particular...

We examine the nature of stated subjective probabilities in a complex, evolving context in which true event probabilities are not within subjects' explicit information set. Specically, we collect information on subjective expectations in a car race wherein participants must bet on a particular...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>The increasing availability of large-N datasets on students, schools and student achievement has produced an explosion of research in education economics over the past 20 years. In this data survey, we first review the micro-level education datasets presently...</p>