Experimental choice data from 881 subjects based on 40 time-tradeoff items and 32 risky choice items reveal that most subjects are time-inconsistent and most violate the axioms of expected utility theory. These inconsistencies cannot be explained by well-known theories of behavioral...

Physical lab experiments have played an instrumental role in sculpting the history of experimental economics, facilitating controlled information conditions, efficient monetary inducements, and exclusive advantages via immediate human interaction and engaging experiences. These unique benefits...

The purpose of the study is to better understand human capital investment decisions of the working poor, and to collect information that can be used to design a policy to induce the poor to invest in human capital. We use laboratory experimental methodology to elicit the preferences and observe...

This paper addresses the question of what determines a poor credit score. We compare estimated credit scores with measures of impulsivity, time preference, risk attitude and trustworthiness, in an effort to determine the preferences that underlie credit behavior. Data are collected using an...

This paper addresses the question of what determines a poor credit score. We compare estimated credit scores with measures of impulsivity, time preference, risk attitude and trustworthiness, in an effort to determine the preferences that underlie credit behavior. Data are collected using an...

Do crackdowns on bribery impact corrupt behavior in the long run? In this paper we observe the long-run impact of a short-term punishment institution (i.e., a crackdown) on bribery behavior in a lab setting. We conduct lab experiments in two countries with cultures that differ in corruption...