Der Aufbau des Textes folgt dem Fragebogen der Monopolkommission vom 28.1.2025. Dieser ist gegliedert in die Abteilungen: I) Allgemeine Entwicklung der Wettbewerbsbedingungen II) DB InfraGO AG III) Entwicklungen der Trassenentgelte IV) Sonstiges Die 23 Fragen der Monopolkommission sind...

We examine how division managers' human capital affects internal capital allocation using a hand-collected data set of divisional managers at S&P 1,500 firms. Based on a novel measure of division-manager ability, we show that more able division managers receive substantially larger capital...

How can we assess the diversity of a group of decision makers? Identifying decision makers with their preferences, we address this question by applying the multi-attribute approach developed by Nehring and Puppe (2002) to sets of preferences. Specifically, we provide a repertoire of alternative...

We study a voting model with partial information in which the evaluation of social welfare must be based on information about agents' top choices plus qualitative background conditions on preferences. The former is elicited individually, while the latter is not. The social evaluator is modeled...

We critically discuss the Jefferson/D'Hondt and Webster/Sainte-Laguë methods, which are used to allocate parliament seats to parties in the mixed-member proportional representation systems in Germany, New Zealand, Bolivia, South Africa, South Korea, Scotland and Wales, as well as in the...

Credit and business cycles play an important role in economic research, especially for central banks and supervisors. We reexamine a dynamic model proposed by Kiyotaki and Moore (1997) of an economy with an endogenous credit limit. They claim that a small temporary shock generates large and...

We study the influence of social messages that promote a digital public good, a COVID-19 tracing app. We vary whether subjects receive a digital message from another subject, and, if so, at what cost it came. Observed maximum willingness to invest in sending varies, from 1 cent up to 20 euros....

We study how researchers can apply machine learning (ML) methods in finance. We first establish that the two major categories of ML (supervised and unsupervised learning) address fundamentally different problems than traditional econometric approaches. Then, we review the current state of...

Condorcet domains are sets of preference orders such that the majority relation corresponding to any profile of preferences from the domain is acyclic. The best known examples in economics are the single-peaked, the single-crossing, and the group separable domains. We survey the latest...

This is the first out of four papers devoted to the 2021 German federal elections continuing our analysis of the 2009, 2013 and 2017 Bundestag elections by the methods of the mathematical theory of democracy. This one estimates the policy representation ability of the 39 parties that...