Evidence of Illusion of Control - the fact that people believe to have control over pure chance events - is a recurrent finding in experimental psychology. Results in economics find instead little to no support. In this paper we test whether this dissonant result across disciplines is due to the...

We analyze data from experimental auctions of orange maize in rural Zambia using the Becker-deGroot-Marschak (BDM) mechanism to estimate the willingness-to-pay (WTP) for the maize. Further, BDM data is combined with first-price auction data to estimate individual risk attitudes. The orange maize...

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery's worse outcome. While the authors implemented a verbal lottery...