Building on the theory of rational addiction, we conducted two pre-registered randomized control trials (RCT) to reduce smartphone usage. Besides a control condition, two treatments were conducted. In the anticipated incentive treatment, subjects were incentivized to reduce screen time but only...

Conventionally, information acquisition is motivated by its instrumental value – the value derived from adapting action to new knowledge. In this paper, we explore the notion of reassurance, whereby people seek to acquire information in order to remove lingering doubts or fears. We formulate...

We present a new behavioral foundation for regret theory. The central axiom of this foundation — trade-off consistency — renders regret theory observable at the individual level and makes our foundation consistent with the existing measurement method. For the first time, our behavioral...

We characterize and empirically measure the interaction between risk and time preferences in an experiment. Our results indicate that risk and time preferences are intertwined. We find that decision makers are insensitive to time delay for small probabilities of gains, but become progressively...