Saving when faced with the immediate option to spend is an unpleasant but not conceptually difficult task. One popular approach contradicts traditional economic theory by suggesting that people in debt should pay off their debts from smallest size to largest regardless of interest rate, to...

Conventional value-elicitation experiments often find subjects provide higher valuations for items they posses than for identical items they may acquire. Plott and Zeiler (2005) replicate this willingness-to-pay/willingness-to-accept “gap” with conventional experimental procedures, but find...