This qualitative study explores the construction of financial literacy in the context of retirement among young women in Israel, in light of available cultural schemas. The research challenges economic models that rely solely on assumptions of rationality and self-interest, offering a...

This study examines the relationship between financial risk tolerance and organizational resilience among small business managers in the Brazilian Northeast, a region strongly affected by economic fragility and intensified uncertainty during and after the COVID-19 pandemic. Using a positivist,...

Background: Street food vending plays a central role in urban nutrition and informal employment across South Africa; however, its sustainability largely depends on consumer trust, which is strongly influenced by perceptions of hygiene. Objectives: This paper investigates customer expectations,...

We report the results of over 30 experiments to study the elasticity of economic decisions with respect to fundamentals. Our experiments cover a broad range of domains, from choice and valuation to belief formation, from strategic games to generic optimization problems, involving investment,...

This work addresses whether heterogeneity in player endowments influences investment decisions in common pool resource (CPR) games, shedding light on the relationship between inequality and economic decision making. We explore two theoretical avenues from behavioral economics-linear...

This paper investigates whether economic hardship undermines preferences for honesty. We use controlled, high-stake measures of cheating for private benefit in a sample of 5,664 Kenyans, exploiting three complementary sources of variation: experimentally manipulated monetary incentives to cheat,...

We study how adolescents' second-order beliefs about their parents' occupational preferences shape gendered career aspirations. In a consequential early-career choice setting, we combine a parental choice experiment with a randomized salience intervention among students. Parents give gendered...

This paper introduces a novel Payoff-Trolley dilemma task, where other participants' payoffs were at stake on the main or sidetrack in a trolley dilemma. Different scenarios varied the number of "others' payoffs" on the sidetrack and main track in ways that helped identify more clearly immoral...

Public support for policy interventions depends on citizens' beliefs about their likely effects. We examine how individuals form such beliefs by studying their predictions of experimental outcomes in a policy-relevant setting, and why their predictions differ from expert benchmarks. We elicit...

Last-mile delivery, the final leg of the supply chain to consumers, significantly impacts the environment, particularly in the grocery sector, due to the perishable nature of food items often necessitating expedited delivery methods. The role of consumer behavior in this process has been...

Recent work in economics has developed survey-based measures of economic preferences that are "experimentally" or "behaviorally validated." We scrutinize this approach focusing on the Global Preference Survey (Falk et al., 2018, 2023). Replicating their behavioral validation on almost 2,000...

Why are inefficient policies popular? One explanation is incomplete voter information. Evidence from survey experiments in Argentina points instead to inattention. The experiments explore voter evaluations of two anti-inflation policies, price controls and limits on monetary emission....

Revealed preference theory (RPT) and its behavioral extension (BRPT) underpin an important strand of welfare economics. Their normative appeal rests on the claim that welfare can be inferred from observed behavior without substantive assumptions about what agents should value - a property I call...

Public support for policy interventions depends on citizens' beliefs about their likely ef-fects. We examine how individuals form such beliefs by studying their predictions of experimental outcomes in a policy-relevant setting, and why their predictions differ from expert benchmarks. We elicit...

Behavioral design in smartphone apps aims at inducing certain, monetizable behavior, mainly increased engagement, measurable by usage time. Such design is rarely transparent and often restricts users' ability to make alternative choices. In a framed field experiment, we document that behavioral...

This paper integrates overprecision-a form of overconfidence where individuals overestimate the accuracy of their beliefs-into a canonical rational inattention model. We show that overprecision distorts belief updating directly by biasing the perceived value of new information and indirectly by...

Behavioral design in smartphone apps aims at inducing certain, monetizable behavior, mainly increased engagement, measurable by usage time. Such design is rarely transparent and often restricts users’ ability to make alternative choices. In a framed field experiment, we document that...

Advice plays a central role in health, personal finance, and energy-efficiency decisions. We study how a benevolent expert should design verifiable advice - such as whether to commission a diagnostic test of different accuracy - when the agent is behaviorally biased, either neglecting...

This paper investigates whether economic hardship undermines preferences for honesty. We use controlled, high-stake measures of cheating for private benefit in a large sample of 5,664 Kenyans, exploiting three complementary sources of variation: experimentally manipulated monetary incentives to...

Savings play a critical role in both individual financial well-being and economic development. This article examines the impact of financial literacy, income, educational level, and age on saving decisions across 136 countries, using data from the Global Financial Inclusion Database (2021) and...

In an important and much cited study, Pettersson-Lidbom (2008) identifies significant left-wing majority coalition effects on economic outcomes for Swedish local governments, 1974-1994. We first replicate the original study and then extend the original research by applying Pettersson-Lidbom's...

Previous studies on inflation expectations suggest that agents often overreact to public signals, pointing to a role for behavioral explanations and motivating extensions of standard macroeconomic models beyond full-information rational expectations. Using the survey data that include a variety...

In this study, we aim to show the effect of entrepreneurs' overconfidence on their required rates of return. Accordingly, we show the implication of two levels of overconfidence: moderate and excessive.We use a hyperbolic absolute risk aversion utility function with a payoff function affected by...

Self-control, attention, and impulsivity jointly support goal-directed behavior yet are often examined in isolation with heterogeneous measures. We integrate validated selfreported scales with a hybrid, incentivized behavioral task that synthesizes two canonical experimental designs and adds...

Inflation expectations play a central role in monetary policy effectiveness, yet relatively little is known about how individual behavioral traits shape expectation formation. This study examines whether time discounting and hyperbolic discounting, key dimensions of intertemporal preferences,...

This study examines the False Reality Bias in treasury management, a cognitive distortion through which small and medium-sized enterprises (SMEs) infer financial stability from salient bank balances while overlooking pending obligations and cash-flow timing. Using a firm-level dataset of 50...

Online brokers and robo advisors frequently use investment simulation tools to visualize portfolio choices and illustrate investment scenarios to their clients. I conduct a survey experiment to study whether people understand such a simulation tool. I analyze how using it might affect individual...

This short paper examines how green nudges can be utilized to promote sustainable behavior in the real estate sector. Based on central nudge approaches, concrete fields of application along the stages of development, usage, and marketing of real estate are identified. The objective is to provide...

Following European pension reforms, the responsibility for old-age provision has increasingly shifted from the state to the individual. This study examines how behavioral norms and perceptions of parents' or grandparents' financial situation influence participation in the voluntary second...

We identify cue-based beliefs as a source of context dependence in charitable giving. Adapting associative memory models to donations, we predict that cues shift giving by changing which beneficiaries and needs come to mind, even when the cues are uninformative about the donation decision. In...

Compliance with complex regulatory requirements can be challenging. We study why and how complexity affects non-compliance in terms of incorrect reporting. Our novel experimental design isolates two distinct complexity effects: an increase in honest mistakes and a substantial shift toward...

Xiang et al. (2025) investigate whether the gambler's fallacy-the false belief that a random event is less likely to occur if it has occurred recently-is robust to using probabilistic (versus point) predictions and independently and identically distributed (versus non-IID) sequences. In five...

Trust in others is essential for the well-functioning of societies. While economists often study its longer-term determinants - such as cultural norms and historical shocks - shortterm fluctuation may be equally critical, particularly during pivotal moments (e.g, elections) or periods requiring...

In two studies with 1,275 participants, we examine how values are associated with wine cues and how these associations shape selection across private and professional contexts. Building on signaling theory and identity economics, we propose a utility framework in which choice utility is a...