When survival over generations is the end game, researchers say it makes sense to undervalue long shots that could be profitable and overestimate the likelihood of rare bad outcomes. Making decisions ...

Human behavior drives the evolution of biological organisms in ways that can profoundly adversely impact human welfare. Understanding people's incentives when they do so is essential to identify ...

Journal of Economic Issues, Vol. 46, No. 2, PAPERS FROM THE 2012 ANNUAL AFEE MEETING (JUNE 2012), pp. 419-428 (10 pages) We present a common analytical framework for evolutionary and institutional ...

Recently, Assistant Professor Liu Zhengwen and Professor Zhang Bo of the School of Economics, together with Professor Justin Yifu Lin from the Institute of New Structural Economics and National School ...

Making decisions in the face of uncertainty has never been easy. But the global pandemic has raised the stakes for many previously mundane choices: how to travel, where to get food, when to send kids ...