A constitution is a collection of principles or axioms determining how society should be organized and a description of the ordering of the axioms in terms of their importance and invocation. We report on an exploratory experiment aimed at discovering preferred axioms relating to the...

This paper asks whether it is possible to design an Intentions Revealing Experiment – that is, an experiment in which the early moves of the decision maker in a dynamic decision problem reveal the intentions of that decision maker regarding later moves in the decision problem. If such a type...

Central to many theoretical accounts of the process by which (rational) people tackle dynamic decision problems is the concept of a plan: a set of conditional decisions as to what would be decided under certain conditions (imposed by Nature). The notion of a plan is clearly central to theories...

This paper reports on an experimental test of the Principle of Optimality in dynamic decision problems. This Principle, which states that the decision-maker should always choose the optimal decision at each stage of the decision problem, conditional on behaving optimally thereafter, underlies...

Timing-independence implies that individuals are indifferent between a sequential choice problem and a planned choice problem which are strategically equivalent except for the timing of resolution of the uncertainty. This paper reports an experiment in which we investigate whether the timing of...

We report on a simple experiment which enables us to infer how far people plan ahead when taking decisions in a dynamic risky context. Usually economic theory assumes that people plan right to the end of the planning horizon. We find that this is true for a little over half of the subjects in...