We present a theory of context-dependent choice in which a consumer’s attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good’s attributes relative to that attribute’s average level in the choice set...

We present a theory of context-dependent choice in which a consumer's attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good's attributes, relative to that attribute's average level in the choice set (or...

We provide a novel account of experimental evidence for the endowment effect using the salience mechanism (Bordalo, Gennaioli, and Shleifer, 2011). The two-stage procedure implemented in experiments implies that the endowed good and other goods are evaluated in different contexts. We describe...

We use a newly assembled sample of 1,528 regions from 83 countries to compare the speed of per capita income convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and human capital. Regional convergence rate is about 2 % per...

We present a model of stereotypes in which a decision maker assessing a group recalls only that group?s most representative or distinctive types. Stereotypes highlight differences between groups, and are especially inaccurate (consisting of unlikely, extreme types) when groups are similar....

We present a model of judicial decision making in which the judge overweights the salient facts of the case. The context of the judicial decision, which is comparative by nature, shapes which aspects of the case stand out and draw the judge's attention. By focusing judicial attention on...

We use a newly assembled sample of 1,528 regions from 83 countries to compare the speed of per capita income convergence within and across countries.  Regional growth is shaped by similar factors as national growth, such as geography and human capital.  Regional convergence rate is about 2%...