We investigate how people make choices when they are unsure about the value of the options they face, and can invest in the acquisition of more information. We design a laboratory experiment to study whether human behaviour is able to approximate the optimal solution to this sequential sampling...

A donation may have ambiguous costs or ambiguous benefits. In a laboratory experiment, we show that individuals use this ambiguity strategically as a moral wiggle room to behave less generously without feeling guilty. Such excuse-driven behavior is more pronounced when the costs of a donation -...

A donation may have ambiguous costs or ambiguous benefits. In a laboratory experiment, we show that individuals use this ambiguity strategically as a moral wiggle room to behave less generously without feeling guilty. Such excuse-driven behavior is more pronounced when the costs of a donation...