Aus dem Problem des Institutionstransfers (der englischen Ökonomik auf deutsche Verhältnisse) entstand im frühen 19. Jahrhundert die historische Methode – und die erste Institutionenökonomie. Was die englische Politische Ökonomik als allgemeingültige Theorie vorschlug, liess sich auf...

Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal-at least partly-from an assumed positive intrinsic...

Bedingt durch den ständig zunehmenden Kostendruck wird es für Unternehmen immer wichtiger, Kostensenkungspotenziale systematisch zu identifizieren. Eine von vielen Unternehmen genutzte strategische Option ist die internationale Arbeitsteilung. Kostenvorteile entstehen hier vor allem durch...

A framework is proposed for organizing phenomena related to the (mis)prediction of utility, in particular neglecting adaptation. A categorization is introduced that accounts for asymmetries in misprediction. In decision-making, goods and activities satisfying extrinsic desires are more salient...

We propose a heteroscedastic regression model to identify the determinants of the dispersion in interest rates on loans granted to small and medium sized enterprises. We interpret unexplained deviations as evidence of the banks' discretionary use of market power in the loan rate setting process....

This paper investigates the determinants of time and money gifts. We first develop a behavioural model which accounts for both types of donations, as well as for decisions about domestic and market hours of work. We then investigate the issue empirically, using survey data for Italy. Results...

Dieser Aufsatz stellt die entscheidungstheoretischen Grundlagen der Produktion von Gesundheitsleistungen dar und leitet daraus Schlussfolgerungen für die Gesundheitspolitik ab. Die bedeutendste Herausforderung am Beginn des 21. Jahrhunderts liegt darin, die Diffusion neuen medizinischen Wissens...

Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more general preferences. In this paper, we characterize dynamically consistent update rules for preference models satisfying ambiguity aversion. This characterization extends to...

This paper proposes a model of decision under ambiguity deemed vector expected utility, or VEU. In this model, an uncertain prospect, or Savage act, is assessed according to (a) a baseline expected-utility evaluation, and (b) an adjustment that reflects the individual's perception of ambiguity...