The use of the Cognitive Reflection Test as a covariate to explain behavior in Economics
and Psychology experiments has significantly increased in the past few years. Experiments …

Abstract We study the Medicare Part D prescription drug insurance program as a bellwether
for designs of private, non-mandatory health insurance markets, focusing on the ability of …

This paper examines two behavioral factors that diminish people's ability to value a lifetime
income stream or annuity, drawing on a randomized experiment with about 4,000 adults in a …

The canonical conclusion from research on age differences in risky choice is that older
adults are more risk averse than younger adults, at least in choices involving gains. Most of …

We study whether people became less likely to switch Medicare prescription drug plans
(PDPs) due to more options and more time in Part D. Panel data for a random 20 percent …

We report results from a field experiment in which a randomized subset of newly hired
workers at a large financial institution received a flyer containing information about the …

This review summarizes research and theory on aging and decision making. We trace the
conceptual and historical origins of using behavioral decision-making tasks to identify age …

Previous studies have demonstrated that a multitude of options can lead to choice overload,
reducing decision quality. Through controlled experiments, we examine sequential choice …

We investigate how consumers choose insurance contracts when using a measure of
decision quality based on individual risk preferences. For this, we use a laboratory …

We tested the hypothesis that political attitudes are influenced by an information‐processing
factor–namely, a bias in the content of everyday explanations. Because many societal …