Agent based models of financial markets follow different approaches and might be categorized according to major building blocks used. Such building blocks include agent design, agent evolution, and the price finding mechanism. The performance of agent based models in matching key features of...

We study the effects of preselection on an expert's incentive to give truthful advice in a decision environment in which certain decisions yield more precise estimates about the expert's expertise. The introduction of a preselection stage, in which the decision maker can study the case before...

Transition from one economic equilibrium to another as a consequence of shocks is often associated with sunk adjustment costs. Firm specific sunk market entry investments (or sunk market exit costs) in case of a reaction to price shocks are an example. These adjustment costs lead to a dynamic...

Competition law compliance has become increasingly important in the banking industry as the number of infringements and the associated fines imposed by the European Commission are rising. This article shows that not only governments and regulators, but also shareholders and managers, should be...

Which behavior-based interventions are more appropriate to induce energy saving: energy saving goals with or without incentive, energy saving products, environmentally related information, social comparison or competition? We try to answer this question in a comprehensive study. First, we...

We provide a comprehensive empirical study on the factors that drive citizens' policy preferences regarding inheritance taxation. It builds on a representative survey among more than 1.000 German citizens in 2014 and 2015. Support for inheritance taxation is found to be driven by monetary...

We provide an empirical analysis of the factors that drive expenditures on primary and secondary education in Indonesian districts. We use a panel-data set covering 398 districts between 2005 and 2012. We account for the impact of socio-economic, political and geographical factors on...

This paper analyzes the consequences of innovations in the electronic goods sector for global energy consumption and identifies a global rebound effect with respect to trade in second-hand electronic consumption goods. With the help of 2SLS-regressions, the positive influence of trade in...

This paper develops a method to integrate affective reponses into game theoretical models. We illustrate our method in a team production framework. The model analyzes how concave and convex status preferences for esteem solve the problem of team production under complete and incomplete...

In some important multi-player situations, such as efforts to supply a global public good, players can choose the game they want to play. In this paper we conduct an experimental test of the decision to choose between a "tipping" game, in which every player wants to contribute to the public good...