We compare the inflation expectations reported by consumers in a survey with their behavior in a financially incentivized investment experiment designed such that future inflation affects payoffs. The inflation expectations survey is found to be informative in the sense that the beliefs reported...

Survey measures of consumer inflation expectations have an important shortcoming in that, while providing useful summary measures of the distribution of point forecasts across individuals, they contain no direct information about an individual's uncertainty about future inflation. The latter is...

Survey measures of consumer inflation expectations have an important shortcoming in that, while providing useful summary measures of the distribution of point forecasts across individuals, they contain no direct information about an individual’s uncertainty about future inflation. The latter...

Two experiments tested the idea that economic transactions among friends are influenced by a norm of generosity. Whereas a fairness norm ought to promote agreement in offers between buyers and sellers, a generosity norm should promote altruistic disagreements caused by sellers offering lower...

Risk communications aim to affect recipients' understanding of specific risks, their trust and liking of the materials, affective responses, and associated behaviors. We developed communications about the number of construction workers expected to get hurt if building were permitted at the...

Risky discounts differ from other discount formats in that the actual discount level is determined by chance (e.g., “scratch & save” cards). Four studies investigated whether consumers prefer to receive risky discounts on a per-purchase or per-item basis. Although these options do not differ...