Informationen sind anders als normale, insbesondere private Güter, was bei der ökonomischen Analyse zu berücksichtigen ist. An den Beispielen Wissenschaft und Internet werden einige Besonderheiten von Informationen vorgestellt und Folgerungen daraus gezogen.

Higgins and Liberman (2018) and Simonson and Kivetz (2018) offer scholarly and stimulating perspectives on loss aversion and the implications for the sociology of science of its acceptance as a virtual law of nature. In our view, Higgins and Liberman (2018) largely complement our conclusion that...

Failure or refusal to fully disclose fees, expenses, revenue sharing, and other hidden costs is causing hundreds of thousands of 401(k) and similar plans to operate outside the realm of fiduciary prudence, unknowingly engage in prohibited transactions, and unnecessarily erode the future benefits...

This paper attempts to provide a substantive introduction to behavioral economics for a general audience, and for introductory and intermediate level students of economics and business administration. 1. Introduction; 2. The Background; 3. Bounded Rationality; 4. Prospect Theory and other major...

Purpose - This brief introductory editorial introduces the background and rationale to the special issue quot;IC: Becoming Criticalquot;. This is based on a selection of papers presented to the 1st Intellectual Capital (IC) Stream at the 4th International Critical Management Studies Conference...

Behavioral economic research has tended to ignore the role of cultural differences in financial and economic decision-making. The authors suggest that a systematic bias affects existing behavioral economic theory financial and economic judgments, whether rational or irrational, are often assumed...

The success of an economic system depends on its having a strong basis of legitimacy in society. For much of the twentieth century, the legitimacy of "American capitalism" was based on the public belief that it would most rapidly and successfully advance the economic progress of the American...

We develop a behavioral theory of real options that relaxes the informational and behavioral assumptions underlying applications of financial options theory to real assets. To do so, we augment real option theory's focus on uncertain future asset values (prospective uncertainty) with feedback...

Modelling cause and effect relationships has been a major challenge for statisticians in a wide range of application areas. Bayesian Networks (BN) combine graphical analysis with Bayesian analysis to represent causality maps linking measured and target variables. Such maps can be used for...

Apart from followers as Milton Friedman, Paul Samuelson, Ronald Coase, and Maurice Allais, most economists abandoned Irving Fisher’s economic framework after the post-1929 Great Crisis. Without citing Fisher however, in 1958 Franco Modigliani and Merton Miller reutilised his framework to found...