We provide evidence for heterogeneous consumer preferences for product quality and game outcome uncertainty (GOU) in Major League Baseball. Using attendance data from 2013 to 2019, we explore functional data clustering techniques to detect common patterns in predictive margins of team-specific...

It is well known that innovation law and policy must strike a balance between incentivizing inventions on the one hand, and granting monopolies to successful innovators on the other. In achieving this balance, it is commonly presumed that actors in innovation markets respond to their economic...

We provide evidence for heterogeneous consumer preferences for product quality and game outcome uncertainty (GOU) in Major League Baseball. Using attendance data from 2013 to 2019, we explore functional data clustering techniques to detect common patterns in predictive margins of team-specific...

Reference-dependent preferences can explain several puzzling observations about organizational change. We introduce a dynamic model in which a loss-neutral firm bargains with loss-averse workers over organizational change and wages. We show that change is often stagnant or slow for long periods...

The purpose of this paper is to try to clarify a number of issues about ethical consumerism - in particular, how much do consumers think about ethical product features when making purchases and are there differences between individuals in the extent of their caring. In studying the issue of...

We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequential-move tournament. We predict that a disappointment averse agent, who is loss averse around her...

We explore the idea that prosocial behavior in experimental games is driven by social norms imported into the laboratory. Under this view, differences in behavior across subjects is driven by heterogeneity in sensitivity to social norms. We introduce an incentivized method of eliciting...

This paper is an attempt to investigate boundedly rational choice theories based on the structure of the choice axioms that these theories satisfy. We propose choice regularities to classify choice theories according to the structure of the underlying choice axioms. Based on choice regularities,...

We provide new evidence on the extent that survey items in the Preference Survey Module and the resulting Global Preference Survey measuring social preferences − trust, altruism, positive and negative reciprocity − predict behavior in corresponding experimental games outside the original...