Summary Tuition fees – as they are now possible in the German system of higher education – may change the behaviour of students. To analyse these reactions more rigorously, a microeconomic decision model is constructed. It consists of two periods: in the first one, students invest in their...

Summary The objective of this paper is to understand certain developments in contemporary arts from an economic point of view. The peculiarity of art is its aesthetic quality in combination with its value as an investment object. Accordingly, four segments of the art market may be distinguished:...