This paper investigates whether certain contexts can lead buyers to be too skeptical and miss beneficial opportunities. We focus on a seller-buyer interaction in which the buyer has limited knowledge about the seller’s offer. The offer is abstracted as two cards, drawn randomly from a deck of...

People often make judgments about the ethicality of others’ behaviors and then decide how harshly to punish such behaviors. When they make these judgments and decisions, sometimes the victims of the unethical behavior are identifiable, and sometimes they are not. In addition, in our uncertain...

Although observers of human behavior have long been aware that people regularly struggle with internal conflict when deciding whether to behave responsibly or indulge in impulsivity, psychologists and economists did not begin to empirically investigate this type of want/should conflict until...

This paper offers a unifying conceptual explanation for failures in competitive decision making across three seemingly unrelated tasks: the Monty Hall game (Nalebuff, 1987), the Acquiring a Company problem (Samuelson & Bazerman, 1985), and multi-party ultimatums (Messick, Moore, & Bazerman,...