The rapid advancement of artificial intelligence (AI) has given rise to sophisticated language models that excel in understanding and generating human-like text. With the capacity to process vast amounts of information, these models effectively tackle problems across diverse domains. In this...

The Review of Finance aimed to significantly increase its standards over my 6 years as Managing Editor and 1 year as Editor. To comply with these new standards, I had to reject nearly 1,000 manuscripts. This article aims to use these rejections constructively by distilling common reasons for...

The application of options pricing theory to value irreversible investment decisions has witnessed a marked increase over the last decade. For instructional and simplified applications, the Black-Scholes model is commonly demonstrated due to its tractability and acceptance in the finance...

This study considers the relationship between job search and over-education amongst recent Australian bachelor degree graduates. Using a panel estimation method, we find that using universities' career offices is associated with a reduced probability of over-education (between 3% and 8%)...

Basel II changes risk management in banks strongly. Internal rating procedures would lead one to expect that banks are changing over to active risk control. But, if risk management is no longer a simple "game against nature", if all agents involved are active players then a shift from a...

We present a simple classroom principal-agent experiment that can effectively be used as a teaching device to introduce important concepts of organizational economics and contracting. In a first part, students take the role of a principal and design a contract that consists of a fixed payment...

Aus der statistischen Praxis ist der Computer heute nicht mehr wegzudenken. In der statistischen Lehre dagegen wird der PC häufig noch nicht adäquat genutzt. Dieser Artikel beschreibt Entwicklung, Einsatz und Evaluation eines PC gestützten Lehrkonzepts, das in der statistischen...

Die Kurzexpertise kritisiert das Gutachten der Wirtschaftsverbände „Ökonomische Bildung an allgemein bildenden Schulen“ (2010) als unter fachwissenschaftlichen, fachdidaktischen, pädagogischen und pragmatischen Aspekten unzureichend. Sie verlangt, ökonomische Fragen in gesellschaftliche,...

This study investigates how exposure to an academic field influences students major choices. In particular, we analyze whether students who are inclined to study business change their intentions after being exposed to economics or law. We exploit a natural experiment at a Swiss university. All...

This paper deals with the use of differential equations and finite difference methods for solving several problems in the field of Economics and Business Administration. Economics usually needs to study the evolution of the values which are taken by a given variable in different moments. If the...