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Exchange economies were created in which individuals faced losses. If people are risk seeking in the losses, as predicted by prospect theory, then due to the nonconvexity, the competitive equilibria are all on the boundaries of the Edgeworth Box. The experimental results are that risk-seeking...
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Madrassas (Islamic religious seminaries) have been alleged to be responsible for fostering Islamic extremism and violence, and for indoctrinating their students in narrow worldviews. However, we know very little about the behavior of Madrassa students, and how other groups in their communities...
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This paper studies the determinants of college major choice using a unique "information" experiment embedded in a … survey. We first ask respondents their self-beliefs - beliefs about their own expected earnings and other major …-specific outcomes conditional on various majors, their population beliefs - beliefs about the population distribution of these …
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