An empirically well-established finding is that equity portfolios are concentratedin the domestic equity market of the investor. Previous theoreticaland empirical analyses have mainly focused on institutional explanations andlargely neglected individual behavior. In this study we report the...

This paper focuses on egocentric biases in financial decisions. Subjects first designa portfolio, whereby each combination of assets yields the same expected returnand variance of returns. They are then confronted with two alternative portfolios;the average portfolio and the portfolio of one’s...

This paper focuses on egocentric biases in financial decisions. Subjects first design a portfolio, whereby each combination of assets yields the same expected return and variance of returns. (...)

Some people are motivated by the non-selfish, non-strategic, and non-consequentialist “sacredvalue” of Truth. We conduct the first experiment directly assessing this phenomenon. We findthat people differ substantially in their truthfulness, with a large minority powerfully inclined...

Führungsinformationssysteme (FIS) wurden ursprünglich als Einzelplatzsysteme entwickelt. Aus unterschiedlichen Gründen werden Führungsentscheidungen jedoch immer öfter von einer Gruppe von Entscheidungsträgern getroffen. Daher wird ein Konzept einer FIS vorgestellt und die Konzeption um...

Franchisee autonomy fosters system-wide adaptability and outlet-owners’ motivationbut also raises the costs from agency problems present in franchiseefranchisordyads. Advancing upon the understanding of agency issues involved infranchising, we test the argument that chains counterbalance the...

On financial markets many investment decisions are taken by groups and not by individuals. The evidence, however, whether groups better than individuals, is ambigous. We analyze the portfolios of groups and individuals in an asset allocation task on an experimental market. We find that groups on...

Die Auseinandersetzung mit der Frage, was als der rote Faden in der Arbeit des Controllers(Weber/Schäffer 1999a, S. 30) anzusehen ist, gehört seit jeher zu den zentralen Problemstellungender Controlling-Forschung. Diesbezüglich haben Jürgen Weber und Utz Schäffervor nunmehr fünf Jahren den...

There are many cases where poor information or human psychology can impede effective decision-making.For example, one theory in behavioural economics warns that people taking decisions are inclined to drawincorrect mental references based on what they know. “Nudge theory” is a potential...