Reputational herding has been considered as a driving force behind economic and financial forecasts clustered around consensus values. Strategic coordination can consequently explain poor performances of prediction markets as resulting from the distinct incentives that forecasters face. While...

We investigate RMB pricing differentials for onshore and offshore trading. Testing for long memory, we find strong persistence in the pricing differential. Hence, the Chinese FX market in its bipolar structure still lacks basic conditions for perfectly integrated markets.

Tradable development rights (TDR) are discussed as a mechanism to reduce land consumption while ensuring an efficient implementation of profitable building projects. We present a novel laboratory experiment on the feasibility of TDR and simulate the acquisition and trading of development rights....

Private innovative activities receive public innovation support from different political levels. Few studies have empirically evaluated the influence of political systems on the reception of public innovation support and no other studies have evaluated innovation support across Europe with CIS...

Competitive bidding is considered to be a cost-effective allocation mechanism for payments for ecosystem services. This article shows that competition is not a necessary condition for sustaining cost-effectiveness in the long run. In a repeated conservation auction, learning, specific...

Several studies have shown that social identity fosters the provision of public goods and enhances the willingness to reciprocate cooperative behavior of group members dependent on the social environment. Yet, the question of how social identity affects negative reciprocity in...

The question to what extent social environment affects how individuals govern their groups, has received no special academic attention, yet. Within the framework of a ten-period public goods experi&ment we analyse how social identity affects subjects ́choice of punishment: They may either...

Individuals who share a common identity show persistently elevated contributions to public goods. Yet, so far the factors that actually trigger this welfare enhancement are not precisely understood. We investigate two channels: (1) subjects ́expectations on group members ́cooperativeness and...

This article analyzes how the anticipation of peer-punishment affects cooperativeness in the provision of public goods under social identity. For this purpose we conduct one-shot public good games with induced social identity and implement in-group, out-group and random matching protocols. Our...

During recent international climate negotiations like in Paris 2015, the European Union agreed to reduce the emissions of greenhouse gases. Policy-makers target the residential sector as a major user of fossil energy because potential to improve the energy efficiency in existing houses is...