Designing institutions robust to individual biases

Project Details


The aim is to characterize the nature of "debiasing" institutions, in reference to intertemporal decisions. Many agents exhibit biases in decision-making and economists need to take that into account when designing institutions. A desirable property of institutions is to be able to deliver a satisfactory and possibly optimal group decisions in spite of individual fallibility. Adopting this view has a great potential of generating innovative contributions. The experimental literature has uncovered many "anomalies" in decision-making, situations where actual choices are systematically different from-perdictions of the standard models.
Effective start/end date19/10/0118/10/03


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