In this experimental study of tax evasion and its determinants participants earn their income in a complex stochastic … intertemporal environment including the possibility to invest into a risky asset. The earned income has to be declared in four tax … donated to charity organizations. Our main results show that higher income induces tax fraud and that gender differences exist. …

parameter restrictions. A cointegration analysis for the unified Germany reveals a long rum relationship between real wages …. We compare these results to results from a standard SVECM and find that, using the Subset VECM reduces estimation …

performance elasticities are contrary to predictions of agency theory. Both results provide further support to the common belief …

The theory of career mobility (Sicherman and Galor 1990) claims that wage penalties for overeducated workers are … compensated by better promotion prospects. Sicherman (1991) was able to confirm this theory in an empirical study. However, the …

incomplete market in discrete time. Under the assumptions of a bounded mean-variance tradeoff, substantial risk and a … nondegeneracy condition on the conditional variances of asset returns, we prove the existence of a locally risk-minimizing strategy … under the inclusion of transaction costs: The preceding strategy which is locally risk-minimizing inclusive of transaction …

We determine the increase of the maximum risk over the minimax risk in the case that the optimally robust estimator for … the relative risk is minimized in the case that the radius is known only to belong to some interval [pr, l'/p] " The … effect of increasing parameter dimension is studied for these models. The minimax increase of relative risk in ease p = 0 …

Credit risk refers to the risk of incurring losses due to unexpected changes in the credit quality of a counterparty or …. We consider individual as well as correlated credit risks. -- compensator ; intensity ; credit risk ; default risk …

We introduce the notion of a convex measure of risk, an extension of the concept of a coherent risk measure defined in … the underlying space of scenarios. As a case study, we consider convex measures of risk defined in terms of a robust not … ion of bounded shortfall risk. In the context of a financial market model, it turns out that the representation theorem is …