Research: An Overview

The research interests of the department lie in experimental and theoretical approaches to the study of economic decision-making processes.
Our approach is behavioral, and accordingly, we incorporate insights from psychology into our research in order to expand and improve our understanding of economic behavior. Our staff publish their work in leading international journals, such as: Economic Journal, Economics Letters, European Economic Review, Journal of African Economies, Journal of Economic Behavior and Organization, Journal of Economic Psychology, Journal of Risk and Uncertainty and Theory and Decision.

Publications

• Humphrey, Steven J. and Kruse, N.Y. (forthcoming). The normative force of Savage's Axiom and the Allais Paradoxes: More evidence. Theory and Decision.
•  Humphrey, Steven J. and Kruse, Nadia-Yasmine. (2024). Who accepts Savage's axiom now? Theory and Decision 96, 1-17.
•  Humphrey, Steven J. and Mondorf, Stefan. (2021). Testing the causes of betrayal aversion. Economic letters 198, 109663.
•  Humphrey, Steven J., Lindsay, Luke, Starmer, Chris. (2017). Consumption experience, choice experience and the endowment effect. Journal of the Economic Science Association 3, 109.
•  Harrison, Glenn W., Humphrey, Steven J. and Verschoor, Arjan. (2010). Choice under uncertainty: Evidence from Ethiopia, India and Uganda. Economic Journal 120, 80-104.
•  Braga, Jacinto, Humphrey, Steven J. and Starmer, Chris. (2009). Market experience eliminates some anomalies – and creates new ones. European Economic Review 53, 401-416.
•  Humphrey, Steven J.. (2006). Does learning diminish violations of independence, coalescing and monotonicity? Theory and Decision 61, 93-128.
•  Bleaney, Michael and Humphrey, Steven J.. (2006). An experimental test of generalized ambiguity aversion using lottery pricing tasks. Theory and Decision 60, 257-282.
•  Humphrey, Steven J. (2004). Feedback-Conditional Regret Theory and Testing Regret-Aversion in Risky Choice. Journal of Economic Psychology 25, 839-857.
•  Humphrey, Steven J. and Verschoor, Arjan. (2004). The probability weighting function: Experimental evidence from Ethiopia, Uganda and India. Economics Letters 84, 419-425.
•  Humphrey, Steven J. and Verschoor, Arjan. (2004). Decision-making Under Risk Among Small Farmers In East Uganda. Journal of African Economies 13, 44-101.
•  Humphrey, Steven J. (2001). Are Event-Splitting Effects Actually Boundary Effects? Journal of Risk and Uncertainty 22, 79-93.
•  Humphrey, Steven J.. (2001). Non-Transitive Choice: Event-Splitting Effects or Framing Effects? Economica 68, 77-96.
•  Humphrey, Steven J.. (2000). The Common Consequence Effect: Testing a Unified Explanation of Recent Mixed Evidence. Journal of Economic Behavior and Organization 41, 239-262.
•  Humphrey, Steven J.. (1999). Probability Learning, Event-Splitting Effects and the Economic Theory of Choice. Theory and Decision 46, 51-78.
•  Humphrey, Steven J.. (1998). More Mixed Results on Boundary Effects. Economics Letters 61, 79-84.
•  Humphrey, Steven J.. (1996). Do Anchoring Effects Underlie Event-Splitting Effects? An Experimental Test. Economics Letters 51, 303-308.
•  Humphrey, Steven J.. (1995). Regret-Aversion or Event-Splitting Effects? More Evidence Under Risk and Uncertainty. Journal of Risk and Uncertainty 11, 263-274.