We study higher-order risk preferences, i.e. prudence and temperance, next to risk aversion in social settings. Previous experimental studies have shown that higher-order risk preferences affect the choices of individuals deciding privately on lotteries that only affect their own pay-off. Yet,...

Many papers have reported behavioral biases in belief formation that come on top of standard game-theoretic reasoning. We show that the processes involved depend on the way participants reason about their beliefs. When they think about what everybody else or another "unspeci fied" individual is...

Belief elicitation is important in many different felds of economic research. We show that how a researcher elicits such beliefs-in particular, whether the belief is about the participant's opponent, an unrelated other, or the population of others-affects the processes involved in the formation...