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Outputs (119)

Individual Discount Rates and Smoking: Evidence From a Field Experiment in Denmark (2010)
Journal Article
Harrison, G., Lau, M., & Rutström, E. (2010). Individual Discount Rates and Smoking: Evidence From a Field Experiment in Denmark. Journal of Economic Psychology, 29(5), 708-717. https://doi.org/10.1016/j.jhealeco.2010.06.006

We elicit measures of individual discount rates from a representative sample of the Danish population and test two substantive hypotheses. The first hypothesis is that smokers have higher individual discount rates than non-smokers. The second hypothe... Read More about Individual Discount Rates and Smoking: Evidence From a Field Experiment in Denmark.

Behavioral Econometrics for Psychologists (2010)
Journal Article
Andersen, S., Harrison, G., Lau, M., & Rutström, E. (2010). Behavioral Econometrics for Psychologists. Journal of Economic Psychology, 31(4), 553-576. https://doi.org/10.1016/j.joep.2010.03.017

We make the case that psychologists should make wider use of econometric methods for the estimation of structural models. These methods involve the development of maximum likelihood estimates of models, where the likelihood function is tailored to th... Read More about Behavioral Econometrics for Psychologists.

Procurement Auctions for Differentiated Goods. (2010)
Journal Article
Shachat, J., & Swarthout, J. (2010). Procurement Auctions for Differentiated Goods. Decision Analysis, 7(1), 6-22. https://doi.org/10.1287/deca.1090.0159

We consider two mechanisms to procure differentiated goods: a sealed-bid buyer-determined auction and a dynamic-bid price-based auction with bidding credits. The sealed-bid buyer-determined auction is analogous to the “request for quote” procedure co... Read More about Procurement Auctions for Differentiated Goods..

Preference Heterogeneity in Experiments: Comparing the Field and Lab (2010)
Journal Article
Andersen, S., Harrison, G., Lau, M., & Rutström, E. (2010). Preference Heterogeneity in Experiments: Comparing the Field and Lab. Journal of Economic Behavior and Organization, 73(2), 209-224. https://doi.org/10.1016/j.jebo.2009.09.006

Do laboratory experiments provide a reliable basis for measuring field preferences? Economists recognize that preferences can differ across individuals, but only a few attempts have been made to elicit individual preferences for representative sample... Read More about Preference Heterogeneity in Experiments: Comparing the Field and Lab.

Risk Attitudes, Randomization to Treatment, and self-selection into Experiments (2009)
Journal Article
Harrison, G., Lau, M., & Rutström, E. (2009). Risk Attitudes, Randomization to Treatment, and self-selection into Experiments. Journal of Economic Behavior and Organization, 70(3), 498-507. https://doi.org/10.1016/j.jebo.2008.02.011

Randomization to treatment is fundamental to statistical control in the design of experiments. However randomization implies some uncertainty about treatment condition, and individuals differ in their preferences towards taking on risk. Since human s... Read More about Risk Attitudes, Randomization to Treatment, and self-selection into Experiments.

Risk Aversion in Game Shows. (2008)
Book Chapter
Andersen, S., Harrison, G., Lau, M., & Rutström, E. (2008). Risk Aversion in Game Shows. In E. Cox, & G. Harrison (Eds.), Risk Aversion in Experiments. (Research In Experimental Economics.). Emerald

Lost in state space: are preferences stable? (2008)
Journal Article
Andersen, S., Lau, M., Harrison, G., & Rutstrom, E. (2008). Lost in state space: are preferences stable?. International Economic Review, 49(3), 1091-1112. https://doi.org/10.1111/j.1468-2354.2008.00507.x

We use field experiments to examine the temporal stability of risk preferences. Over a 17-month period, we elicited risk preferences from subjects chosen to be representative of the adult Danish population. During this period we revisited many of the... Read More about Lost in state space: are preferences stable?.

Eliciting risk and time preferences (2008)
Journal Article
Andersen, S., Harrison, G., Lau, M., & Rutstrom, E. (2008). Eliciting risk and time preferences. Econometrica, 76(3), 583-618. https://doi.org/10.1111/j.1468-0262.2008.00848.x

We design experiments to jointly elicit risk and time preferences for the adult Danish population. Since subjects are generally risk averse, we find that joint elicitation provides estimates of discount rates that are significantly lower than those f... Read More about Eliciting risk and time preferences.

Estimating risk attitudes in Denmark: A Field Experiment (2007)
Journal Article
Harrison, G., Lau, M., & Rutstrom, E. (2007). Estimating risk attitudes in Denmark: A Field Experiment. The Scandinavian Journal of Economics, 109(2), 341-368. https://doi.org/10.1111/j.1467-9442.2007.00496.x

We estimate individual risk attitudes using controlled experiments in the field in Denmark. The experiments were carried out across Denmark using a representative sample of 253 people between 19 and 75 years of age. Risk attitudes are estimated for v... Read More about Estimating risk attitudes in Denmark: A Field Experiment.

Valuation using multiple price list formats (2007)
Journal Article
Anderson, S., Harrison, G., Lau, M., & Rutstrom, E. (2007). Valuation using multiple price list formats. Applied Economics, 39(6), 675-682. https://doi.org/10.1080/00036840500462046

We examine the properties of a popular method for elicitation of valuations from experimental subjects, the multiple price list format. The main advantages of this format are that it is relatively transparent to subjects and provides simple incentive... Read More about Valuation using multiple price list formats.

Information aggregation in a catastrophe futures market. (2006)
Journal Article
Shachat, J., & Westerling, A. (2006). Information aggregation in a catastrophe futures market. Managerial and Decision Economics, 27(6), 477-495. https://doi.org/10.1002/mde.1283

We experimentally examine a reinsurance market in which participants have differing information regarding the probability distribution over losses. The key question is whether the market equilibrium reflects traders maximizing value with respect to t... Read More about Information aggregation in a catastrophe futures market..

Social Security Incentives and Human Capital Investment (2006)
Journal Article
Lau, M., & Poutvaara, P. (2006). Social Security Incentives and Human Capital Investment. Finnish economic papers, 19(1), 16-24

While the effect of social security systems on retirement decisions has received much attention, there are no analytical results on the impact of these systems on individual incentives to invest in human capital. We integrate human capital investment... Read More about Social Security Incentives and Human Capital Investment.

Measuring trust and trustworthiness. (2005)
Book Chapter
Leland, J., Houser, D., & Shachat, J. (2005). Measuring trust and trustworthiness. In H. Höhmann, & F. Welter (Eds.), Trust and Entrepreneurship: A West-East Perspective (87-96). Edward Elgar Publishing

Is the evidence for hyperbolic discounting in humans just an experimental artifact? (2005)
Journal Article
Harrison, G., & Lau, M. (2005). Is the evidence for hyperbolic discounting in humans just an experimental artifact?. Behavioral and Brain Sciences, 28(5), 657-657. https://doi.org/10.1017/s0140525x05290118

We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment o... Read More about Is the evidence for hyperbolic discounting in humans just an experimental artifact?.