In a large-scale internet experiment we investigate whether a 24-hour cooling-off period leads to fewer rejections of unfair offers in negotiations. We conduct a cash treatment and a lottery treatment, where subjects bargain over the distribution of lottery tickets for several large prizes. Unfair offers are less frequently rejected in the lottery treatment, and there coolingoff also plays a si...

A series of studies was conducted to elucidate a phenomenon here referred to as the "illusion of control." An illusion of control was denned as an expectancy of a personal success probability inappropriately higher than the objective probability would warrant. It was predicted that factors from skill situations (competition, choice, familiarity, involvement) introduced into chance situations ca...

The endowment effect is the finding that possession of an item adds to its value. We introduce a new procedure for testing this effect: participants are divided into two groups. Possession group participants inspect a numbered lottery ticket and know it is theirs, while inspection group participants only inspect a lottery ticket without being endowed with it. Subsequently participants choose be...

We propose using lotteries as an alternative payment mechanism through which to incentivize and recruit workers to microtasking. We present initial findings gained via experiments on Amazon Mechanical Turk and focus on discussing the benefits and potential pitfalls in employing a lottery-based payment mechanism for microtasking. lottery-based Payment Mechanism Over the last few years, paid micr...

The increased complexity of the service model relative to store-and-forward routers has made resource management one of the paramount concerns in active networking research and engineering. In this paper, we address two major challenges in scaling resource management to many-node active networks. The rst is the use of market mechanisms and trading amongst nodes and programs with varying degrees...

Many people believe they can win the lottery, either believing in books on how to beat the system or relying on their own methods. They hear stories of people winning the jackpot after buying just one ticket and forget about the countless others who lose money each time. This paper shows the ineffectiveness of popular lottery strategies. The California SuperLotto historical winning draws are us...

BACKGROUND Previous research has suggested that daily lottery incentives could improve medication adherence. Such daily incentives include implicit reminders. However, the comparative effectiveness of reminders alone versus daily incentives has not been tested. METHODS A total of 270 patients on warfarin were enrolled in a four-arm, multi-center, randomized controlled trial comparing a daily ...

This paper provides a novel method for identifying informed institutional trading. I argue that, given an information signal about a stock, an investor’s tastes for certain characteristics of that stock can influence his decision to trade on the information. Thus, trades which deviate from an investor’s tastes are more likely to reflect information. I test this hypothesis with respect to invest...