Dieser Beitrag enthält drei Kurzartikel. Der erste behandelt die Wirtschaftspolitik, derzweite die Soziale Sicherung. Der dritte skizziert den Ansatz der Ökonomischen Ethik,ein Forschungsprogramm, das in jüngster Zeit auch unter der Bezeichnung„Ordonomik“ vorangetrieben wird. Eingerahmt...

Die Unternehmen der Mineralölindustrie sind konfrontiert mit gravierenden Defiziten der institutionellen Rahmenordnungen für globales Wirtschaften. Sie reagieren auf diese Defizi-te, indem sie sich auf soziale und ökologische Kriterien sowie auf Governance-Standards freiwillig selbst...

This paper shows how cognitive human dispositions that take effect at the level of an individualfirm’s corporate culture have repercussions on an industry’s evolution. In our theory, the latter isattributable to evolving corporate cultures coupled with changes in a firm’s...

Following a positive shock, financing constraints will prolong or impede economic expansionthat would have been optimal in an unconstrained environment. The study ofdynamic adjustment therefore offers a direct way of verifying the presence of financingconstraints and assessing their consequences...

This paper studies the asset pricing implications of a general equi-librium model in which real investment is reversible at a cost. Firmsface higher costs in contracting than in expanding their capital stockand decide to invest when their productive capital is scarce relativeto the overall...

A Discrete Choice Experiment (DCE) in the health-care sector is used to test the lossaversion theory that is derived from reference-dependent preferences: The absolutesubjective value of a deviation from a reference point is generally greater when the deviationrepresents a loss than when the...

Supported by several recent investigations the empirical pricing kernel paradox might beconsidered as a stylized fact. In Chabi-Yo et al. (2008) simulation studies have been presentedwhich suggest that this paradox might be caused by regime switching of stock prices in financialmarkets....

Market growth is driven by product innovation. Beyond functional satiationthe marginal utility of product performance and variety decreases. We argue that socialcomparisons underlying innovation diffusion results in consumer motivations for upwardassimilation toward the behavior of better...

The notion of choice inconsistency is widely spread in the literature on behavioraleconomics. Several approaches were used to account for the observation that peoplereverse their choices over time. This paper aims to explain the formation of resolutionsregarded as internal self-binding devices....

The satisficing approach is generalized and applied to finite n-person games.Based on direct elicitation of aspirations, we formally define the conceptof satisficing, which does not exclude (prior-free) optimality but includesit as a border case. We also review some experiments on strategic...