Learn More
The G8 is considering committing to purchase vaccines against diseases concentrated in low-income countries (if and when desirable vaccines are developed) as a way to spur research and development on vaccines for these diseases. Under such an 'advance market commitment,' one or more sponsors would commit to a minimum price to be paid per person immunized(More)
In many field settings, participants sort among environments based on their preferences , beliefs, and skills. Experiments, however, often ignore the potential impact of such sorting. We demonstrate the importance of sorting for experiments, in the domain of social preferences. When individuals are constrained to play a dictator game, 61% of the subjects(More)
We examine the robustness of information cascades in laboratory experiments. Apart from the situation in which each player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of costly signals is studied where players decide whether to obtain private information or not, at a small but positive(More)
We consider a decisionmaker who "narrowly brackets", i.e. evaluates her decisions separately. Generalizing an example by Tversky and Kahneman (1981) we show that if the decisionmaker does not have constant-absolute-risk-averse preferences, there exists a simple pair of independent binary decisions where she will make a …rst-order stochastically dominated(More)
We are especially grateful to Henry Grabowski for his generosity in sharing the pharmaceutical sales revenue data with us. All errors and opinions are those of the authors. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. All rights reserved. Short sections of text,(More)
Offering incentives to promote charitable giving (for example, to encourage donations to aid victims of natural disasters) is very popular among governments and private organizations. Many companies, for example, match their employees' charitable contributions, hoping that this will foster a strong willingness to donate. However, systematic analyses of the(More)
Discussion papers of the WZB serve to disseminate the research results of work in progress prior to publication to encourage the exchange of ideas and academic debate. Inclusion of a paper in the discussion paper series does not constitute publication and should not limit publication in any other venue. The discussion papers published by the WZB represent(More)
Discussion papers of the WZB serve to disseminate the research results of work in progress prior to publication to encourage the exchange of ideas and academic debate. Inclusion of a paper in the discussion paper series does not constitute publication and should not limit publication in any other venue. The discussion papers published by the WZB represent(More)