Taking rational decisions in a company, both current and strategic, requires knowing and taking into consideration the external conditions of the conducted activity. The accuracy of decisions made, as well as the ability to adjust to a changing external environment determines not only the...

Impaired decision behavior of schizophrenia patients has been repeatedly observed. We investigated the aspects of the jumping to conclusions bias (JTC): biases in information-gathering, information weighting and integration, and overconfidence, using the process tracing paradigm Mouselab, which...

Impaired decision behavior of schizophrenia patients has been repeatedly observed. We investigated the aspects of the jumping to conclusions bias (JTC): biases in information-gathering, information weighting and integration, and overconfidence, using the process tracing paradigm Mouselab, which...

In this paper we investigate the incentive effects of corporate taxes in an agency setting with a principal facing an investment opportunity including an abandonment option. We are particularly interested in the interplay of taxation and the real option on the principal's incentives to motivate...

This paper studies consumption-portfolio decisions with recursive utility on a finite time horizon. We postulate essential properties that a bequest motive must satisfy. We show that the parameter which serves as weight of bequest in setups with time-additive utility is both quantitatively and...

We incorporate the process of policy diffusion (i.e. the uncoordinated dissemination of policies among countries) into a probabilistic two-country-model of strategic environmental policy. Contrary to the usual setting with simultaneous decision making we consider the impact of sequential...