Experiment 1 was Strickland's Harvard College honors senior thesis. We thank John Bargh, Nick Barberis, Jim Baron, Geoffrey Cohen, David Dunning, John Friedman, Matthew Gentzkow, Dan Gilbert, Karla Hoff, Moshe Hoffman, Emir Kamenica, Miles Kimball, Rachel Kranton, Ilyana Kuziemko, David Laibson, John List, Wendy Berry Mendes, Sendhil Mullainathan, Emily Oster, Todd Pittinsky, Claudia Sahm, Jesse Shapiro, Margaret Shih, Paul Tetlock, Rebecca Thornton, Robert Willis, two anonymous referees, and seminar participants at Harvard, Dartmouth, Michigan, NBER, Yale, and Chicago for comments and suggestions. We thank Bruce Rind and Bill Stull for facilitating our access to Temple University. Sarah Bommarito, Gabriel Carroll, Josh Cherry, Ghim Chuan, Christopher Convery, Geoffrey Fisher, Neals Frage, Bjorn Johnson, Dasol Kim, Annette Leung, Hans Lo, Shawn Nelson, Mark Petzold, Tiye Sherrod, Kimberly Solarz, Michael Stevens, Bernardo Vas, Narendra Vempati, and especially Neel Rao and Collin Raymond provided excellent research assistance. We thank the Russell Sage Foundation Small Grants Program in Behavioral Economics and the National Institute on Aging (grants P30- AG012810 and T32-AG00186) for financial support. Benjamin thanks the Institute for Humane Studies, the Institute for Quantitative Social Science, the Program on Negotiation at Harvard Law School, Harvard's Center for Justice, Welfare, and Economics, and the National Institute on Aging (grant P01-AG26571) for financial support. Choi thanks the Mustard Seed Foundation, the National Institute on Aging (grant R01-AG021650), and Whitebox Advisors for financial support. Strickland thanks the Harvard College Research Program, the Harvard Economics Department, and the Harvard Psychology Department for financial assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.