The so-called unskilled-and-unaware problem was experimentally identified a decade ago: The unskilled are seemingly afflicted by a double curse because they also seem unaware of their (relative) lack of skills. Numerous authors have elaborated on this problem – experimentally as well as...

This paper focuses on egocentric biases in financial decisions. Subjects first designa portfolio, whereby each combination of assets yields the same expected returnand variance of returns. They are then confronted with two alternative portfolios;the average portfolio and the portfolio of one’s...

We study how different demographic groups respond to incentives by comparing their performance in “high” and “low” stakes situations. The high stakes situation is the GRE examination and the low stakes situation is a voluntary experimental section of the GRE. We find that Males exhibit a...

We study how different demographic groups respond to incentives by comparing their performance in "high" and "low" stakes situations. The high stakes situation is the GRE examination and the low stakes situation is a voluntary experimental section of the GRE. We find that Males exhibit a larger...

Typically, laboratory experiments suffer from homogeneous subject pools and self-selection biases. The usefulness of survey data is limited by measurement error and by the questionability of their behavioral relevance. Here we present a method integrating interactive experiments and...

Does students' hand tremble after marking three consecutive identical answers in a multiple choice test? We design an experiment to study if the likelihood to change incorrectly to a different answer than the last one depends on the number of identical previous answers. We do not find a clear...

Does students' hand tremble after marking three consecutive identical answers in a multiple choice test? We design an experiment to study if the likelihood to change incorrectly to a different answer than the last one depends on the number of identical previous answers. We do not find a clear...

Typically, laboratory experiments suffer from homogeneous subject pools and self-selection biases. The usefulness of survey data is limited by measurement error and by the questionability of their behavioral relevance. Here we present a method integrating interactive experiments and...

Does students' hand tremble after marking three consecutive identical answers in a multiple choice test? We design an experiment to study if the likelihood to change incorrectly to a different answer than the last one depends on the number of identical previous answers. We do not find a clear...

Typically, laboratory experiments suffer from homogeneous subject pools and selfselection biases. The usefulness of survey data is limited by measurement error and by the questionability of their behavioral relevance. Here we present a method integrating interactive experiments and...