Learning processes are widely held to be the mechanism by which boundedly rational agents adapt to environmental changes. We argue that this same outcome might also be achieved by a different mechanism, namely specialisation and the division of knowledge, which we here extend to the consumer...

There is substantial empirical evidence and increasing recognition that not only outcomes, but also the procedures leading to them, can affect people' s utility from, and their reactions to, those decisions. However, there is still a large gap between numerous studies by non-economists (e.g.,...

Eine Vielzahl von Ökonomen untersucht mit Hilfe verschiedener theoretischer Modelle, inwiefern Steuern Einfluss auf wirtschaftliche Entscheidungen haben. Eine grundlegende Annahme in diesen Modellen ist dabei die Abwesenheit von Fehlwahrnehmungen. Ziel dieser Arbeit ist es, systematische...

Reorganisationen sind seit vielen Jahren und unter verschiedenen Bezeichnungen ("Lean Management", "Reengineering" etc.) eines der Top-Themen in der Management-Szene. Die Umsetzung solcher Vorhaben sieht in der Praxis jedoch zumeist sehr ern?chternd aus. "Unwillen zur Ver?nderung" gepaart mit...

Frequent criticism in dynamic decision making research pertains to the overly complex nature of the decision tasks used in experimentation. To address such concerns we study dynamic decision making with respect to the simple race game Hog, which has a computable optimal decision strategy. In the...

Die heißen Diskussionen über die Ergebnisse der PISA – (in aller Öffentlichkeit) und TIMSS – Studie (im Fachpublikum) sowie die verschiedenen Ansichten über Kultus – und Bildungspolitik im Rahmen der Föderalismusreform deuten auf einen großen Informationsbedarf hin. Dabei lassen auch...

Decision makers and forecasters often receive advice from different sources including human experts and statistical methods. This research examines, in the context of stock price forecasting, how the apparent source of the advice affects the attention that is paid to it when the mode of delivery...

A number of studies have shown that providing point forecasts to decision makers can lead to improved production planning decisions. However, point forecasts do not convey information about the level of uncertainty that is associated with forecasts. In theory, the provision of prediction...