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Although higher status or income rank is known to generate hedonic pleasure, little is known about the search for rank information. We report an experiment eliciting rank beliefs and providing rank …
Discussion paper
We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration …
Discussion paper
We introduce a collective experimentation problem where a continuum of agents choose the timing of irreversible actions under uncertainty and where public feedback from the actions arrives gradually …
Discussion paper
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …
Discussion paper