This paper focuses on the problem of probability weighing in the evaluation of lotteries. According to Prospect Theory a probability of 0.5 has a weight of smaller than 0.5. We conduct an EEG experiment in which we compare the results of the evaluation of binary lotteries by certainty...

In a recent contribution, Teunter et al. [2006. Dynamic lot sizing with product returns and remanufacturing. IJPR 44 (20), 4377-4400] adapted three well-known heuristic approaches for the single-item dynamic lot sizing problem to incorporate returning products that can be remanufactured. The...

In this paper we analyze the value of delegation in a two-period agency. A central management hires an agent to perform a personal effort in each period. Due to time constraints or lack of ability this effort can not be performed by central management. Besides personal effort firm value is...

The use of screening contracts is a common approach to solve supply chain coordination problems under asymmetric information. One major assumption in this context is that subjects will rather use their private information strategically than to reveal them truthfully, if they do not get any...

This paper deals with credit market imperfections and idiosyncratic risks in a two–sector heterogeneous agent dynamic general equilibrium model of occupational choice. We focus especially on the effects of tightening financial constraints on macroeconomic performance, entrepreneurial...

Das Bestandsmanagement von Ersatzteilen stellt Hersteller langlebiger Industrie- und Konsumgüter insbesondere in der Nachserienphase vor große Herausforderungen, da nach Abschluss der Serienproduktion die zur einer effizienten Bedarfsbefriedigung notwendige Flexibilität nur noch in...

At online auction platforms we often observed that substitutable goods are auctioned concurrently with auctions ending at the same time. I introduce an experimental setup of three sellers and four buyers in an ascending second price auction environment where every seller runs one auction with a...

We study e¤ects of trust in implicit contracts. Trust changes whenever the principal honors or dishonors an implicit contract. Usually a higher discount rate lowers the value of trade in an agency. We show that a su¢ ciently high level of (ex ante) trust can o¤set this ef- fect. Strategies of...

Some customers are loyal to their favorite brands, others easily switch between them. A new technique is available to assess differences in brand related behavior. We assume that price and brand-conscious participants show nearly the same activations in emotionally associated brain areas....

This paper analyzes the determinants of employability di erences between short-term and long-term unemployed persons. Knowing these di erences could help to address active labor market policy programs more adequately to the needs of the job-seekers in order to increase integration rates into...