Incentivized experiments are commonly used to estimate marginal rate of intertemporal substitution (MRS) in the lab and in the field, and to make inferences about subject’s time preference. This paper considers the implications of an integrated model of behavior in which individuals are...

Incentivized experiments are commonly used to estimate marginal rates of intertemporal substitution (MRS) in the lab and in the field in order to make inferences about individual time preferences. This paper considers an integrated model of behavior in which individuals are subject to financial...

Consider a marriage market with continuous-time two-sided search and transferable utility in which the match payoff depends on age. This paper characterizes a set of payoff functions consistent with two salient marriage age patterns: (1) assortative matching by age, and (2) \differential age...

The goal of many experiments is to inform the choice between different policies. However, standard experimental designs are geared toward point estimation and hypothesis testing. We consider the problem of treatment assignment in an experiment with several non-overlapping waves, where the goal...

The goal of many experiments is to inform the choice between different policies. However, standard experimental designs are geared toward point estimation and hypothesis testing. We consider the problem of treatment assignment in an experiment with several non-overlapping waves, where the goal...

The use of randomized controlled trials (RCTs) in the social sciences has greatly expanded, resulting in newly abundant, high-quality data that can be reused to perform methods research in program evaluation, to systematize evidence for policymakers, and for replication and training purposes....

In this paper, we introduce a new measure of how close a set of choices are to satisfying the observable implications of rational choice, and apply it to a large balanced panel of household level consumption data. We use this method to answer three related questions: (i) 'How close are...

We provide a full behavioral characterization of the standard Shannon model of rational inattention. The key axiom is "Invariance under Compression", which identifies this model as capturing an ideal form of attention-constrained choice. We introduce tractable generalizations that allow for many...

Willingness to pay (WTP) and willingness to accept (WTA) a monetary amount for a lottery should be closely related. In data from an incentivized survey of a representative sample of 3,000 U.S. adults, we find that WTA and WTP for a lottery are, at best, weakly correlated. Across all respondents,...