This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a twoperson public good game in partner design. At the end of each sequence, subjects can select a new partner out of six...

In this paper, we apply the bounded rationality approach to aninvestment situation. In a simple setting where an investor decides betweena riskless bond and a risky asset, we distinguish three aspirationlevels: a lowest threshold that one wants to guarantee, an aspirationlevel given by investing...

Myopic loss aversion (MLA) has been established as one prominentexplanation for the equity premium puzzle. In this paper we address two issuesrelated to the effects of MLA on risky investment decisions. First, we assess therelative impact of feedback frequency and investment flexibility (via...

This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a twoperson public good game in partner design. At the end of each sequence, subjects can select a new partner out of six...

Die deutsche Wohnungswirtschaft unterliegt einer tiefgreifenden staatlichen Regulierung. Hiervon sind insbesondere Heizungsanlagen betroffen. Durch die vorgeschriebene Aufteilung in Kaltmiete und Nebenkosten stellt sich die Investition in eine neue, effiziente Heizungsanlage für den Vermieter...

Jensen/Mecklings Konzept der Agency Costs (des Fremdkapitals) beschreibt die Vermögenseinbuße opportunistisch agierender Schuldner, wenn rationale Gläubiger (fremdkapitalinduzierte) Risikoanreize korrekt antizipieren und, risikoadjustiert, höhere Kreditforderungen durchsetzen. Dabei wird...