The paper analyses on an experimental basis the phenomenon of non-optimal under-diversification in portfolio choice decisions and investigates the reasons behind it. The most important obstacles for optimal diversification are studied the correlation neglect hypothesis and the overconfidence...

Innovationen sind das Kernelement des Überlebens und der Positionierung von Volkswirtschaften, da sie zur Befriedigung der Marktbedürfnisse beitragen. Vor dem Hintergrund knapper Ressourcen werden jedoch regelmäßig nur die Innovationen realisiert, die aus einer betriebswirtschaftlichen...

The paper aims at defining the role of intentions for reciprocity. The ultimatum game is modified, by adding a kind of randomizer (Chinese Whisperʺ), to generate outcomes which are not intended und thus to separate the proposers’ initial intentions from their actual offers. The mechanism...

This paper provides an economic justification for the protection of cultural property rights of indigenous groups. Cultural property either in the form of traditional knowledge or folklore carries the potential to increase wealth by adding to the knowledge base of an economy. But in order to...