Die von wirtschaftlichen Umbrüchen geprägten Jahre nach der Wiedervereinigung waren für viele Ostdeutsche mit zunehmender Unsicherheit verbunden, während die Veränderungen in Westdeutschland weitaus weniger gravierend waren. In der Folge kam es in den 90er Jahren zu einem massiven Rückgang...

The paper investigates the importance of probability weighting in financial decisions and examines the degree to which risk-taking behavior deviates from expected utility theory in the presence of probability weighting. A group of professional traders participates in an experiment, whose data...

Labor market policies succeed or fail at least in part depending on how well they reflect or account for behavioral responses. Insights from behavioral economics, which allow for realistic deviations from standard economic assumptions about behavior, have consequences for the design and...

This study examined the relationship between share prices and dividends, earnings and book values for companies listed on the Nairobi Securities Exchange (NSE) in Kenya for the six years period between 2005 and 2010. Using panel data analysis the study found evidence that there is a positive and...

Status quo bias is a systematic cognitive error which makes it difficult for individuals to make decisions independently of the currently dominant situation. This study pursues the question of whether bond market analysts are affected by status quo bias. We evaluated interest rate forecast...

The article introduces the theoretical foundations of the author’s original concept of accounting engineering. We assume a theoretical premise whereby accounting engineering is understood as a system of accounting practice utilising differences in economic events resultant from the use of...

The Brundtland Report (1987) is the first formalization of the relationship between development and environment: "Development is sustainable if it meets the needs of present generations without compromising the ability of future generations to meet their own needs." In the sixties and seventies,...

The impact of strong emotions or mood on decision making and risk taking is well recognized in behavioral economics and finance. Yet, and in spite of the immense interest, no study, so far, has provided any comprehensive evidence on the impact of weather conditions. This paper provides the...

This paper investigates the effects of Greece's European Union (EU) accession and European Economic and Monetary Union (EMU) entry, as well as R&D intensity and industry concentration on job creation and job destruction in the Greek manufacturing sector. The study is based on firm-level economic...

We study cartel stability in a differentiated price-setting duopoly with returns to scale. We show that a cartel may be equally stable in the presence of lower differentiation, provided that the decreasing returns parameter is high. In addition we demonstrate that for a given factor of discount,...