In this paper, we examine an exchange economy with a financial market composed of three assets: a share of a stock, an European call option written on the stock, and a riskless bond.

Linear Methods are often used to compute approximate solutions to dynamic models, as these models often cannot be solved analytically. Linear methods are very popular, as they can easily be implemented. Also, they provide a useful starting point for understanding more elaborate numerical...

This contribution introduces a new direct measure of political media bias by analyzing articles and newscasts with respect to the tonality on political parties and politicians. On this basis we develop an index sorting the media in the political left to right spectrum. We apply the index to...

As the rise of populist and right-wing political movements is connected to extensive media coverage, the question arises whether media report more on political parties because of their success or if their success is caused by media reports. To tackle this question, we investigate how media...

The generosity of unemployment insurance systems is constantly scrutinized by economists. Higher generosity of unemployment insurance (UI) - usually defined by referring to the replacement rate of the former wage - is commonly known to be associated with higher (equilibrium) unemployment....

We investigate if four leading, electronic news gathering organizations in the US - ABC News, CBS News, FOX News, and NBC News - fulfill their role as the fourth estate in the US democracy. Our analysis, using the Political Coverage Index (PCI) introduced by Dewenter et al (2020), is based on...

The composite indicator "Quality of work" for comparing European countries is constructed from data of the Third European Survey on Working Conditions. The main findings are as follows: (a) European countries differ with respect to working conditions statistically more signi¯cantly than with...

Folk Economics' ist die Wirtschafts-'Theorie' und analog ist 'Folk Ethics' die Moral-"Theorie" des gesundes Menschenverstandes. Typisch für 'folk-economic beliefs' sind fehlerhafte Kausalattributionen. Typisch für 'folk-ethical beliefs' sind utopische oder dysfunktionale Bewertungsmaßstäbe....

Folk economics' is the economic 'theory' of common sense, and analogously 'folk ethics' is the moral 'theory' of common sense. Typical of 'folk-economic beliefs' are erroneous causal attributions. Typical of 'folk-ethical beliefs' are utopian or dysfunctional criteria for moral judgments. The...

Jon Elster gehört zu den profiliertesten Sozialwissenschaftlern der internationalen ‚scientific community'. Der vorliegende Beitrag entwickelt eine Lesart für sein bisher vorliegendes Gesamtwerk: In einem ersten Schritt wird Elsters Kritik an funktionalistischen Fehlschlüssen in den...