We present a preliminary overview of a political stock market experiment we have conducted at the Universitaet Passau. This experiment differs from previous work (e.g. the renowned Iowa Electronic Markets) in that it is built on the call market institution rather than on double auction...

The authors present design and results of the 'Passauer Wahlborse,' a field experiment built on call market institution, which successfully predicted the outcome of the 1994 German Bundestag election. Building on theoretical and experimental literature, they discuss the determinants of...

Social insurance and other arrangements for funding health-care benefits often establish long-term relationships, effectively providing insurance against lasting changes in an individual's health status, engaging in burden-smoothing over the life cycle, and entailing additional elements of...