We evaluate the claim that individuals exhibit a magnitude effect in their discounting behaviour, where higher discount rates are inferred from choices made with lower principals, all else being equal. If the magnitude effect is quantitatively significant, it is not appropriate to use one...

We use field experiments to examine the temporal stability of risk preferences. Stability can mean that a given subject exhibits the same risk attitudes over time, or that their risk attitudes are a stable function of states of nature that change over time. It is quite possible for risk...

We examine the properties of a popular method for eliciting choices and values from experimental subjects, the multiple price list format. The main advantage of this format is that it is relatively transparent to subjects and provides simple incentives for truthful revelation. The main...