We examine the additivity of stock-market expectations over different time intervals. When asked about a ten-year interval, survey respondents expect a stock-price change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the...

Over the last decade, the defense industry has obtained relevance on Brazilian public policies. Departing from the premise that the success of this process requires not only that the Armed Forces have modern equipment and skilled military to operate them, but also that the country retains the...

In diesem Beitrag wird analysiert, ob Wechselkursprognosen Anhaltspunkte dafür liefern, dass Prognostiker ein so genanntes Herdenverhalten zeigen. Auf der Basis unterschiedlicher theoretischer Modellansätze wird skizziert, warum Prognostiker einen Anreiz haben könnten, einem Herdentrieb zu...

In diesem Beitrag wird analysiert, wie sich die Teilnahme an einer Lehrveranstaltung aus dem Bereich des E-Learning auf das Klausurergebnis auswirkt. Der Leistungsunterschied zwischen Teilnehmern und Nichtteilnehmern lasst sich nicht allein auf die Partizipation an der Veranstaltung...

Chartist and fundamentalist models have proven to be capable of replicating stylized facts on speculative markets. In general, this is achieved by specifying nonlinear interactions of otherwise linear asset price expectations of the respective trader groups. This paper investigates whether or...

We measure the quality of applications for online peer-to-peer lending in Germany and relate it to gender discrimination. The data context allows summarizing application quality as a single numeric measure, the expected internal rate of return. The measure serves as a control variable and is...

Recent research in contract theory on the effects of behavioral biases implicitly assumes that they are stable, in the sense of not being affected by the contracts themselves. In this paper, we provide evidence that this is not necessarily the case. We show that in an insurance context, being...

One explanation for overpricing on asset markets is a lack of traders\' self-control. Self-control is the individual capacity to override or inhibit undesired impulses that may drive prices. We implement the first experiment to address the causal relationship between self-control abilities and...

This paper develops a theory in which heterogeneity in political preferences produces a partisan disagreement about objective facts. A political decision involving both idiosyncratic preferences and scientific knowledge is considered. Voters form motivated beliefs in order to improve their...