Psychologische Studien belegen vielfältige Abweichungen menschlicher Denk- und Verhaltensweisen von den üblichen Rationalitätsannahmen ökonomischer Modelle. Die traditionelle Ökonomie begegnet diesen Hinweisen begrenzter Rationalität mit Zurückhaltung, auch wenn derartige Ansätze...

A multi-stage model on the course of war is presented: Individual battles are modeled as private value all-pay auctions with asymmetric combatants of two opposing teams. These auctions are placed within a multi-stage framework with a tug-of-war structure. Such framing provides a microfounded...

The uncovered interest rate parity equation is the cornerstone of most models in international macro. However, this equation does not hold empirically since the forward discount, or interest rate differential, is negatively related to the subsequent change in the exchange rate. This forward...

We develop a multi-agent framework based on probabilistic cellular automata theory to describe off-equilibrium dynamics in the context of the economic problem of price adjustment in different strategic situations as investigated experimentally by Fehr and Tyran (2001) and (2008). It is found...

We show that a common (identical across investors) irrationality in information processing can be enough to create nontrivial trade, using one of standard partial-equilibrium environments. We can attribute this trade to their common irrationality because we strip the investors and their...

Gesellschaftstheoretiker wie der Soziologe Niklas Luhmann machen darauf aufmerksam, dass es in der modernen Gesellschaft zu systematischen Diskrepanzen zwischen Semantik und Sozialstruktur kommt. Solche Diskrepanzen – also Fälle, in denen Sozialstruktur und Semantik nicht zueinander passen...

Dieser Beitrag stellt unter der Bezeichnung „Ordonomik“ ein Forschungsprogramm vor, das ursprünglich im Bereich der Wirtschafts- und Unternehmensethik entstanden ist und nunmehr allgemein gesellschaftstheoretisch als institutionalistisch ausgerichteter Rational- Choice-Ansatz zur Analyse...

Individual terrorist are frequently behaving seemingly absurd, e.g. by carrying out suicide operations, while activities of the terrorist organisations as a whole often seem to be conducted in a very effective way. These facts caused many researchers to regard the leaders representing the...