This paper presents a new perspective on the nature of fairness in bargaining by using verbal data from spontaneous team discussions and written statements on decision motives. Systematic content analysis proves a valuable source for providing new insights. The nature of fairness can be viewed...

Within the context of an agent-based macroeconomic model with dynamic bounded-rational expectations, the most important transmission links between the real sphere of the European economy and the US financial markets crises are simulated: (a) the devaluation of financial assets, (b) global...

We use surveys of German households and firms to study the extent of information frictions among different groups of economic agents. Firms' expectations about the central bank policy rate, inflation, and aggregate unemployment are more aligned with expert forecasts and less dispersed than...

This paper provides survey evidence on firms’ subjective uncertainty about future sales growth from a new representative panel data set of the German manufacturing sector. The main finding is that uncertainty reflects change: firms report more subjective uncertainty after either high or low...

This paper analyzes tax competition theory in an experimental setting. Economically trained students act as government and must select a labor and a capital tax rate to fund a public good, both in closed and open economy settings. Several results emerge: i) There is only weak evidence that...

We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find, in line with economic theory, that firms with no market power are able to shift a high share of a tax burden on to consumers, independent of whether buyers are automated or...