Die Institution eines einzelnen CEO (Chief Executive Officer) hat erhebliche Schwächen. Der CEO hat andere Interessen als die Eigentümer und deren Vertreter sowie die anderen Topmanager. Einer einzelnen Person so viel Macht zuzuweisen ist riskant. Der Wechsel eines CEO verursacht hohe Kosten....

Scholars today are under increasing pressure to publish in A-journals, the main role of which consists in certifying that a paper meets traditional academic standards. Consequences of this pressure are multiple authorship, slicing of ideas and incentives to deviate from the truth. The...

We analyze political representation of preferences of different income groups by matching referendum outcomes for low, middle, and high-income voters with individual legislators decisions on identical policy proposals. Results indicate that legislators more closely represent preferences of rich...

Exploiting a natural voting experiment we identify female preferences for real policy issues in the electorate. We then analyze whether female or male politicians in parliament more closely correspond to female preferences. Holding constant revealed constituent preferences, there is generally no...

The role of electoral incentives vs. selection is ideally analyzed in a setting where the same legislators are selected to decide on policies under different electoral rules and where voter preferences on policies can be precisely measured. This is the first paper to look at such a situation....

When moving from a plurality rule to a proportional system, members of national parliament have more incentives to diverge from the median voter's preferences. We match voting behavior concerning legislative proposals of Swiss members of parliament with real referenda outcomes on the same issues...

Public debts capitalize into property prices. This so far neglected fact has important consequences for the tax vs. debt choice. Property owners suffer more from the debt burden and, thus, have a stronger preference for tax financing of government spending than tenants. As a consequence of the...

A pandemic is not only a biological event and a public health disaster, but it also generates impacts that are worth understanding from a societal, historical, and cultural perspective.In this contribution, we argue that as the disease spreads, we are able to harness a valuable key resource,...

Broadening democracy by lowering the voting age is on the political agenda in many democratic societies. Previous suffrage extensions suggest that there are systematic differences between what parliaments decide and what voters want with respect to enfranchisement of new groups. This paper...