Why sexual assaults and car accidents are associated with the consumption of alcohol mixed with energy drinks (AMED) is still unclear. In a single study, we show that the label used to describe AMED cocktails can have causal non-pharmacological effects on consumers’ perceived intoxication,...

Why do people fail to diversify risk in their investment portfolios? We study how lay investors (people with low financial literacy) invest in financial assets whose past or expected returns are provided. Although investing in assets with negatively correlated returns reduces portfolio risk...