Over the last decades, empirical research on subjective well-being in the socialsciences has provided a major new stimulus to the discourse on individual happiness.Recently this research has also been linked to economics where reported subjective wellbeingis often taken as a proxy measure for...

In a series of papers in the 1970s, Camilo Dagum proposed several variants ofa new model for the size distribution of personal income. This Chapter traces thegenesis of the Dagum distributions in applied economics and points out paralleldevelopments in several branches of the applied statistics...

This paper surveys selected applications of the Lorenz curve and related stochasticorders in economics and econometrics, with a bias towards problems in statisticaldistribution theory. These include characterizations of income distributions in termsof families of inequality measures, Lorenz...

The paper addresses two questions. First, is item nonresponse (INR) a precursor of panelattrition (UNR), as predicted by the theory of a latent cooperation continuum, or is theinterrelation of another type? Second, are the results in models of item nonresponse behavioraffected by a selectivity...

Recent empirical work shows that a better legal environment leads to lowerexpected rates of return in an international cross-section of countries. Thispaper investigates whether differences in firm-specific corporate governancealso help to explain expected returns in a cross-section of firms...

Auch wenn die grundsätzliche Idee von Hedge Funds schon mehr als ein halbes Jahrhundertbesteht, so hat diese Anlageform doch erst in den letzten Jahren an Bedeutunggewonnen, und zwar sowohl in der Praxis als auch in der der akademischen Forschung.Dabei sind Hedge Funds in die größere Klasse...

The goal of this chapter is twofold: First, we present an overview of the current researchon hedge fund performance. Second, we provide new evidence for the Europeanhedge fund industry. The empirical analysis scrutinizes the return patterns in thepast and alerts investors to the potential...

Das Anlageverhalten von Privatinvestoren unterscheidet sich teilweise markant vonden Voraussagen, welche man aufgrund von Modellen der Portfolioselektion anstellenwürde: so sind beispielsweise Portfolios häufig nicht breit diversifiziert, weder bezüglichder Anzahl der Titel noch bezüglich...