Individuals exhibit a randomization preference if they prefer random mixtures of two bets to each of the involved bets. Such preferences provide the foundation of various models of uncertainty aversion. However, it has to our knowledge not been empirically investigated whether uncertainty-averse...

Sollen in Zukunft ambitionierte Ziele der nachhaltigen Flächennutzung erreicht werden, wie zum Beispiel das 30-Hektar-Ziel aus der Nachhaltigkeitsstrategie der rot-grünen Bundesregierung aus dem Jahre 2002, dann müssen politische Strategien gefunden werden, die es erlauben, weitgehende...

The object of the present analysis is organizational slack. The paper targets at a “slack type” which consists of basic information deriving from slack functions, slack conditions, antecedents of slack and dispositional requirements of slack. The purpose of the analysis is the creation of a...

This paper develops a general equilibrium model to measure welfare effects of taxes for correcting environmental externalities caused by domestic trade, focusing on exter- nalities that arise through exports. Externalities from exports come from a number of sources. Domestically owned ships,...

Negotiations frequently end in conflict after one party rejects a final offer. In a large-scale internet experiment, we investigate whether a 24-hour cooling-off period leads to fewer rejections in ultimatum bargaining. We conduct a standard cash treatment and a lottery treatment, where subjects...

We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...

This article incorporates a political decision process into an urban land use model to predict the likely location of a public good. It fills an important gap in the literature by modeling the endogenous location of open space. The article compares open space decisions made under a...

Bubbles in asset markets have been documented in numerous experimental studies. However, all experiments in which bubbles occur pay dividends after each trading day. In this paper we study whether bubbles can occur in markets without dividends. We investigate the role of two features that are...