Für Investitionen am Kapitalmarkt spielt die Portfoliotheorie (Markowitz, 1952) eine bedeutende Rolle und bildet nach wie vor eine wichtige Entscheidungsgrundlage für die Strukturierung von Anlageportfolios. Für risikoaverse Anleger ist die Diversifikation der Portfoliobestandteile eine...

Tradable development rights (TDR) are discussed as a mechanism to reduce land consumption while ensuring an efficient implementation of profitable building projects. We present a novel laboratory experiment on the feasibility of TDR and simulate the acquisition and trading of development rights....

Certificate trading schemes have been discussed as a cost-efficient means of reducing land use in Germany by capping and reallocating permissions to conduct building projects. However, in contrast to the established cap & trade systems for emissions, reputation-seeking politicians would be in...