Bayesian consumers infer that hidden add-on prices (e.g., the cost of ink for a printer) are likely to be high prices. If consumers are Bayesian, firms will not shroud information in equilibrium. However, shrouding may occur in an economy with some myopic (or unaware) consumers. Such shrouding...

Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before matching contributions from their employer have...

Dieses aktuelle Lehrbuch der Volkswirtschaftslehre, das mit vielen aktuellen Fallstudien punktet und Studierende nicht nur in die klassischen Theorien der Marktmechanismen einführt, sondern auch mit neuen Konzepten und Ansätzen, wie z.B. der Spieltheorie, vertraut macht, darf in keinem gut...

The fraction of the population over age sixty-five in many developed countries is projected to rise, in some cases sharply, in coming decades. This has drawn growing interest to research on the health and economic circumstances of individuals as they age. Many individuals are retiring from paid...