According to a standard principle in free speech law, the remedy for falsehoods is "more speech," not enforced silence. But empirical research demonstrates that corrections of falsehoods can actually backfire, by increasing people's commitment to their inaccurate beliefs, and that presentation...

Macroeconomic uncertainty affects the subjective distribution of individual expectations. Using four panel datasets, we document the effects of macro uncertainty on the mean expectation (first moment) and subjective uncertainty (second moment) of income forecasts. We find that macro uncertainty...

Direct democracy is believed to lead to an allocation of resources that is closer to the median voter's preferences. If, however, the median voter suffers from bounded rationality, the allocation of public goods actually achieved should be affected. Based on recent empirical findings by economic...

Debate on the issue of executive pay has intensified after the UK Government published a Green Paper in November 2016 (Green Paper), which discussed, among other things, several concerns with the current regime on executive pay and possible options for reform. In view of the potentially...

In Germany, around 80 to 90 percent of all inventions are created by employees. This leads to a conflict between the German principles of employment law and patent law. According to employment-law principles, the results of work are the property of the employer; the salary compensates the...