Many models show that redistribution is bad for growth. This paper argues that in a non-cooperative world optimizing, redistributing ('left-wing') governments mimic non-redistributing ('right-wing') policies for fear of capital loss if capital markets become highly integrated and the countries...

The mainly used welfare criterion in the social network literature is Bentham´s utilitarian concept. The shortcomings of this concept are well-known. We compare the outcomes of the utilitarian concept with the Nash social welfare function. By using a Taylor approximation we deduce a formula...

This paper examines educational outcomes of pupils selected to secondary school types by different tracking regimes in a German state: The traditional regime of streaming pupils after fourth grade of elementary school is compared to a regime in which pupils are selected into different secondary...

This paper studies the impact of loss aversion on decisions regarding the allocation of wealth between risky and risk-free assets. We use a Value-at-Risk portfolio model with endogenous desired risk levels that are individually determined in an extended prospect theory framework. This framework...

Dieser Artikel stellt theoretische Argumente und empirische Fakten der in Sicherungsverwahrung befindlichen Inhaftierten in Deutschland dar. Zudem gibt er einen kurzen Überblick über relevante Gesetzesinhalte sowie eine kurze Zusammenfassung über die Geschichte der Sicherungsverwahrung in...

This study explores the reduction potential of greenhouse gases for major pollution emitting countries of the world using nonparametric productivity measurement methods and directional distance functions. In contrast to the existing literature we apply optimization methods to endogenously...