Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies explored whether people show patterns of intransitivity predicted by four descriptive models. To distinguish trueʺ violations from those produced by error,ʺ a model was fit in which...

This paper focuses on the legal monopoly for sporting bets in Germany. We analyze the pricing behavior of the monopolist ODDSET and find that typical pricing inefficiencies on betting markets are reinforced under the monopoly. This result in conjunction with the decreasing tax revenue may...

Um die Arbeitsanreize und die Verteilungsgerechtigkeit des Arbeitslosengeldes II (ALG II) zu analysieren, ist eine Quantifizierung des Arbeitsleides und des Wertes der Haushaltsproduktion in verschiedenen Haushaltstypen notwendig. Da diese Größen nicht direkt beobachtbar sind, verwendet die...

Existing empirical evidence is inconclusive on whether professional investors show sophisticated behavior or not, a question which is at the heart of market efficiency. This ambiguous evidence is mostly based on trading data or laboratory evidence, which each has its limitations. We complement...

A distinguishing feature among households is whether adult members work or not, since the employment status affects a household’s available time for home activities. Using a survey method in two countries, Belgium and Germany, we provide household incomes that retain the level of well-being...

Our questionnaire survey finds that most fund managers rely on the strategies of buy-&-hold, momentum and contrarian trading. These strategies are typically applied mutually. Their use is rooted in the attributes and beliefs of the respective fund managers: buy-&-hold traders behave...