This chapter reports how stock portfolios that employed recognition heuristics fared relative to market indices, mutual funds, chance or dartboard portfolios, individual investment decisions, portfolios of unrecognized stocks and other benchmarks proposed by third parties.The surprising...

Draft of a contribution to Kincaid & Ross Modern Guide to Philosophy of Economics (Elgar). To talk in 2020 about the foundations of behavioural and experimental economics (BE and EE from here on), or for that matter the methodological and substantive relationships between economic and...

To discuss experimental results without discussing how they came about makes sense when the results are robust to the way experiments are conducted. Experimental results, however, are – arguably more often than not – sensitive to numerous design and implementation characteristics such as the...

Plott, Wit & Yang (2003) conduct a betting market experiment and find: First, information was aggregated. This suggests that traders updated their private information based on observed market odds. Second, a model based only on the use of private information seems to fit their data best. The...

We study the effects of loaded instructions in a bribery experiment. We find a strong gender effect: men and women react differently to real-world framing. The treatment effect becomes significant once we allow for gender specific coefficients. Our paper contributes to the (small) literature on...

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery's worse outcome. While the authors implemented a verbal lottery...

Analysing the rhetorical structure of (An Inquiry into the Nature and Causes of) The Wealth of Nations (Smith WN) and the political context of its publication, we make the case for the central importance of its Book V, “Of the Revenue of the Sovereign or Commonwealth”, which tends to be...

We discuss ways to cope with uneven expected lab earnings that are the likely results of role assignments. We identify three problems associated with uneven earnings in the lab: of social preferences, of low marginal return for effort, and of perceived deception. Mining the opinions of...

We study a setting where a buyer chooses one of several available options whose values are initially unknown but can be discovered through costly search. Search is sequential, with perfect recall, which implies it is optimal for the buyer to search until the best option encountered so far...

Game theory is a branch of social sciences that formalizes decision-making in situations where two or more individuals or groups interact, possibly having conflicting interests. In Ortmann & Walraevens (2022) we have reconstructed Smith’s ways of thinking about the social world by analyzing...