This paper provides a systematic analysis of individual attitudes towards ambiguity, based on laboratory experiments. The design of the analysis allows to capture individual behavior across various levels of ambiguity, ranging from low to high. Attitudes towards risk and attitudes towards...

1. Editorial: Consequences of Social Transformation for Economic Theory -- 2. A Survey on Business Cycles: History, Theory and Empirical Findings -- 3. Implementation of the Evolutionary-Genetic Methodology in the Mechanisms of Synthesis of Economic Theory -- 4. Synthesis of Mainstream and...

This paper analyzes volatility spillovers in multivariate GARCH-type models. We show that the cross-effects between the conditional variances determine the persistence of the transmitted volatility innovations. In particular, the influence of a foreign volatility innovation on a conditional...

Why do some people behave pro-socially while others do not? Using an experimental design based on Konow and Earley (JPubE, 2008), I investigate a reason already proposed by Aristotle in his Nicomachean Ethics: He claims that there is a nexus between virtues and well-being and that enduring...

This paper tests social identity theory with respect to individuals' self-identification behavior. We report results from a laboratory experiment in which subjects choose their group membership, which is interpreted as decision to identify with the respective group. Inducing a trade-off between...

We investigate the formation of market prices in a new experimental setting involving multi-period asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and (2) the provision of...