We conduct field experiments to investigate dynamic inconsistency and commitment demand in food choice. In two home grocery delivery programs, we document substantial dynamic inconsistency between advance and immediate choices. When given the option to commit to their advance choices, around half of subjects take it up. Commitment demand is negatively correlated with dynamic inconsistency, suggesting those with larger self-control problems are less likely to be aware thereof. We evaluate the welfare consequences of dynamic inconsistency and commitment policies with utility measures based on advance, immediate, and unambiguous choices. Simply offering commitment has limited welfare (and behavioural) consequences under all measures.

Individuals frequently make insurance choices that appear sub-optimal, possibly reflecting difficulty mapping insurance contracts to their distribution of financial consequences. We develop and experimentally test a decision aid that provides this mapping in two experiments mirroring typical health insurance decisions. Compared to standard feature-based information, our distributionbased tool substantially reduces dominance violations and changes choice patterns across a range of menus. Under feature-based displays, choices can be most easily rationalized by models of heuristic choices, such as minimizing premium or deductible. With the decision aid, significantly more people have choice patterns that are better explained by expected utility theory.

In the past several decades, the experimental method has lent deep insights into economics. One area that has contributed is the experimental study of children, where advances as varied as the evolution of human behaviors that shape markets and institutions to how early life influences shape later life outcomes, have been explored. We first develop a framework for economic preference measurement that provides a lens into how to interpret data from experiments with children. Next, we survey work that provides general empirical insights within our framework and provide a comprehensive summary of experimental methods used with children. Finally, we provide 10 tips for pulling off experiments with children, including factors such as taking into account child competencies, causal identification, and logistical issues related to recruitment and implementation. We envision the experimental study of children as a high-growth research area in the coming decades as social scientists begin to more fully appreciate that children are active participants in markets who (might) respond predictably to economic incentives.

We present results from the first study to examine the causal impact of early childhood education on the social preferences of children. We compare children who, at 3-4 years old, were randomized into either a full-time preschool, a parenting program, or a control group. We returned to the children when they reached 6-8 years of age and conducted a series of incentivized experiments to elicit their social preferences. We find that early childhood education has a strong causal impact on social preferences. Our findings highlight the importance of taking a broad perspective when designing and evaluating early childhood educational programs.

We investigate how skills developed when children are 3–5 years old drive schooling outcomes in middle childhood and adolescence. We find that skills map onto three distinct factors—cognitive skills, executive functions, and economic preferences. Importantly, each of the three factors predict later schooling outcomes. While early executive function skills and cognitive scores are linked to future behavioral patterns and other key student outcomes, economic preferences have an independent effect: children who are impatient in early childhood have more disciplinary referrals. Finally, random assignment to preschool impacts grades and disciplinary referrals through changes to cognitive skills and executive functions.

This paper examines two behavioral factors that diminish people's ability to value a lifetime income stream or annuity, drawing on a randomized experiment with about 4,000 adults in a U.S. nationally representative sample. We find that increasing the complexity of the annuity choice reduces respondents' ability to value the annuity, measured by the difference between the sell and buy values they assign to the annuity. When we limit narrow choice bracketing by inducing people to think first about how quickly or slowly to spend down assets in retirement, their ability to value an annuity increases.