We characterize and empirically measure the interaction between risk and time preferences in an experiment. Our results indicate that risk and time preferences are intertwined. We find that decision makers are insensitive to time delay for small probabilities of gains, but become progressively...

Consumers confronted with a product that offers an unexpected benefit are often uncertain whether the benefit is relevant to them. They might choose (or not) to reduce this uncertainty by thinking more about the offered benefit's relevance to their life. This paper argues that such heightened...

We explore the interaction between fairness attitudes and reference dependence both theoretically and experimentally. Our theory of fairness behavior under reference-dependent preferences in the context of ultimatum games, defines fairness in the utility domain and not in the domain of dollar...

This paper shows that privacy concerns in commercial contexts are not solely driven by a desire to control the transmission of personal information or to avoid intrusive direct marketing campaigns. When they express privacy concerns, consumers anticipate indirect economic consequences of data...