Many everyday decisions have to be made under risk and can be interpreted as choices between gambles with different outcomes that are realized with specific probabilities. The underlying cognitive processes were investigated by testing six sets of hypotheses concerning choices, decision times,...

Im vorliegenden Beitrag wird das System der kommunalen Haushalts- und Finanzkontrolle in Deutschland, bestehend aus örtlicher und überörtlicher Prüfung sowie der staatlichen Kommunalaufsicht, synoptisch dargestellt und analysiert. Dabei werden verschiedene Schwächen identifiziert und...

Online marketplaces allow consumers to leave reviews about the products they purchase, which are visible to potential customers and competitors. While the impact of reviews on valuations of worth and purchasing decisions has been intensively studied, little is known about how the reviews...

Laboratory experiments by Fudenberg and Pathak (2010), and Vyrastekova, Funaki and Takeuch (2008) show that punishment is able to sustain cooperation in groups even when it is observed only in the end of the interaction sequence. Our results demonstrate that the real power of unobserved...

Are decisions by political parties more or less accepted than direct-democratic decisions? The literature on parties as brand names or labels suggests that the existence of political parties lowers information and transaction costs of voters by providing ideological packages. Building on this...