• Publications
  • Influence
Incorporating Fairness into Game Theory and Economics
People like to help those who are helping them and to hurt those who are hurting them. Outcomes rejecting such motivations are called fairness equilibria. Outcomes are mutual-max when each personExpand
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A Model of Reference-Dependent Preferences
We develop a model that fleshes out, extends, and modifies existing models of reference dependent preferences and loss aversion while accommodating most of the evidence motivating these models. OurExpand
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Understanding Social Preference with Simple Tests
Departures from self-interest in economic experiments have recently inspired models of “social preferences”. We design a range of simple experimental games that test these theories more directly thanExpand
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Doing It Now or Later
Though economists assume that intertemporal preferences are time-consistent, evidence suggests that a person's relative preference for well-being at an earlier moment over a later moment increases asExpand
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Risk Aversion and Expected Utility Theory: A Calibration Theorem
Within the expected-utility framework, the only explanation for risk aversion is that the utility function for wealth is concave: A person has lower marginal utility for additional wealth when she isExpand
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UNDERSTANDING SOCIAL PREFERENCES WITH SIMPLE TESTS
Departures from self-interest in economic experiments have recently inspired models of “social preferences”. We design a range of simple experimental games that test these theories more directly thanExpand
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Reference-Dependent Risk Attitudes
We use Koszegi and Rabin's (2006) model of reference-dependent utility, and an extension of it that applies to decisions with delayed consequences, to study preferences over monetary risk. BecauseExpand
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Regulation for Conservatives: Behavioral Economics and the Case for 'Asymmetric Paternalism'
Regulation by the state can take a variety of forms. Some regulations are aimed entirely at redistribution, such as when we tax the rich and give to the poor. Other regulations seek to counteractExpand
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Inference by Believers in the Law of Small Numbers
  • M. Rabin
  • Economics, Mathematics
  • 4 June 2000
Many people believe in the Law of Small Numbers, exaggerating the degree to which a small sample resembles the population from which it is drawn. To model this, I assume that a person exaggerates theExpand
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First Impressions Matter: A Model of Confirmatory Bias
Psychological research indicates that people have a cognitive bias that leads them to misinterpret new information as supporting previously held hypotheses. We model such confirmatory bias in aExpand
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