This study tests the adequacy of the axioms underlying Luce and Weber's (1986) conjoint expected risk model. Risk judgments are found to be transitive. Monotonicity or the substitution principle per se seems to hold, but the related probability accounting assumption is violated. The conjoint...

Generic advertising, the promotion of an entire product or service category, is an increasingly common form of inter-firm cooperation. Voluntary participation in such a campaign represents contribution to a public good. Based on the pattern of recent campaigns, we argue that this cooperation is...

This chapter states that institutions and preferences are hopelessly confounded with the world of politics. Starting with data about institutional variation and variation in policy outcomes, it is impossible to make any hard and fast inferences about the impact of institutional features on...

Social, economic, and organizational development require a degree of stable policy making. The instability of group decision making under majority rule has preoccupied social theorists since Condorcet in the late 18th century. In theory, subtle institutional modifications to pure majority rule...

Experimental studies consistently indicate that human information processing and decision making violate basic precepts of rationality. Yet rational choice theory is increasingly used to model organizations, politics, and international relations. Experimental evidence of cognitive bias is often...