The authors thank the associate editor, three reviewers, N. Ali, G. Attanasi, I. Esponda, L. Panaccione, K. Schlag, J. Tremewan, E. Vespa, A. Wilson, S. Yuksel for very valuable feedback. They also thank participants at the Winter Business Economics Conferences in Snowbird, Utah; the Society for Experimental Finance in Salt Lake City, Utah; the Economic Science Association World Meeting in Vancouver; the North American Economic Science Association Conference in Antigua; the Asia-Pacific Economic Science Association Conference in Abu Dhabi; the European Workshop on Experimental and Behavioral Economics workshop in Lyon; the Louis-André Gérard-Varet Conference in Aix-en-Provence; the Reading Experimental and Behavioral Economics Workshop workshop in Reading; the meeting of the Canadian Economic Association in Banff; and seminars at Luxembourg Institute of Socio-Economic Research, Florida State University, Middlebury College, Penn State University, the University of the Basque Country in Bilbao, the University of California at Santa Barbara and Davis, Mazarych University, and the Universities of Auckland, Bath, Goteborg, Melbourne, Michigan, Nantes, Paris-Dauphine, Pittsburgh, Prague, Rome, and Vienna for useful comments.