We review the literature to identify common problems of decision-making in individuals and
groups. We are guided by a Bayesian framework to explain the interplay between past …

Unprecedented social, environmental, political, and economic challenges, from pandemics
and epidemics to environmental degradation to community violence, require taking stock on …

We study how Americans respond to idiosyncratic and exogenous changes in household
wealth and unearned income. Our analyses combine administrative data on US lottery …

Scholars have hypothesized that policy choices by national, state, and local governments
often have implications for “location choices” made by residents (eg, tax policies affect …

Theories about poverty, held both by social scientists and by regular folks, typically fall into
one of two camps: those who regard the behaviors of the economically disadvantaged as …

As financial markets grow ever more complex and integrated, households must make
increasingly sophisticated and all-too-often irreversible economic decisions. This is …

Why do the poor spend more on lottery tickets than their wealthier and better educated
peers? While social scientists generally agree that there is an inverse relationship between …

Low-socioeconomic-status (SES) consumers tend to be more price sensitive than their high-
SES counterparts. Nonetheless, various economic-related burdens, such as mobility costs …

We examine US children whose parents won the lottery to trace out the effect of financial
resources on college attendance. The analysis leverages federal tax and financial aid …

Individuals who are concerned for a nonprofit's mission benefit from activities that increase
the nonprofit's output. As these benefits are enjoyed by anyone with similar concerns …