In recent years, there has been a growing interest in policy applications of different auction systems. This paper reports on a series of experiments that were used to design and implement an auction in a unique policy-making environment. In April, 2000, the Georgia legislature passed a unique...

This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting...