The understanding of human behavior in sequential decision tasks is im-portant for economics and socio-psychological sciences. In search tasks,for example when individuals search for the best price of a product, theyare confronted in sequential steps with different situations and they haveto...

This paper shows, how a genetic algorithm (GA) can be used to model an economic process: the interaction of profit-maximizing oil-exploration firms that compete with each other for a limited amount of oil.

This paper focuses on the theoretical underpinnings and practical application of an economic impact analysis submodeldeveloped within the Land use Evolution and Impact Assessment Modeling (LEAM) environment. The conceptual framework of LEAM is described, followed by an application of the model...

Working memory capacity is a key component of executive functioning and is thought to play an important role for a wide range of cognitive and noncognitive skills such as fluid intelligence, math, reading, the inhibition of pre-potent impulses or more general self-regulation abilities. Because...

This survey article provides an overview of the recent experimental economic literature on fairness‐related behaviors in children and adolescents. We discuss different motives underlying fair behavior, summarize the development of fairness and inequality acceptance across different...

Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that...