Venkat Lakshminarayanan

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proposer’s payoffs constant across the two planks but varied the size of the payoffs to the receiver’s chamber to investigate if and when capuchins were willing to provide the receiver’s chamber with a large reward (a marshmallow) instead of a small reward (a celery piece). This led to two kinds of trials: ones in which the proposer delivered marshmallow to(More)
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. Do these biases extend across contexts, cultures, or even species? We investigate this question by introducing fiat currency and trade to a colony of capuchin monkeys and recovering their preferences over a range of goods and gambles. We show that capuchins(More)
Reliability of electronic systems for operating in all types of environments has become a necessity. The progressive miniaturization in electronics, packaging of a large number of active devices per unit area of the component due to higher integration levels, higher power density per unit area, need for low- cost and reliable products, and the wide range of(More)
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects — capuchin monkeys. By introducing a fiat currency and trade to a capuchin colony, we are able to recover their preferences over a wide range of(More)
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects — capuchin monkeys. By introducing a fiat currency and trade to a capuchin colony, we are able to recover their preferences over a wide range of(More)
Despite our species’ impressive cognitive sophistication, adult humans are nevertheless notoriously bad at making normatively rational economic decisions. Much work has examined the nature of biased decisions such as framing effects, the endowment effect, and the peak-end principle in adult humans; however, research examining the origins of these biases is(More)
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