The Institutional Analysis and Development (IAD) literature finds that Nash equilibrium predictions are empirically falsified in the social dilemmas that arise in community-level natural resource management problems. However, Nash equilibrium is not the only solution concept within...

The Reduction of compound lotteries is an implicit assumption both in the statement of the St. Petersburg Paradox as well as in its resolution by Expected Utility (EU). Yet despite the pivotal role of this assumption, to date there has been no empirical substantiation of its validity. Here we...

Frequently, public expenditure on R&D is justified with high-profile spin-off successes stories. Such arguments invariably commit to a particular, though not necessarily explicit sense of spin-off. Yet this choice is not inconsequential to the strength of such arguments. Notwithstanding spin-off...