Standard economic explanations of good conduct in trade rely almost exclusively on future-directed extrinsic motivations induced by material incentives. But intrinsic motives to behave trustworthy and to punish untrustworthiness do support trade. In our model, intrinsically motivated players are...

Medical doctors act as agents of their patients by either treating them directly or referring them to other more or differently specialized doctors, who thereby become "agents of agents". The main aim of this paper is to model central aspects of such two-layered agency relations in the medical...

We present a systematic robustness test of the persistence of gift-exchanges in the laboratory. Our data clearly establish that the effect of social forces is dramatically crowded out by loss aversion. This was not observed before, as in other studies that allow for nominal losses participants...

Das Anspruchserfüllungskonzept mit seinen Bausteinen „Anspruchsbildung, Anspruchserfüllung und Anspruchsanpassung“ ist die zentrale Idee in der Theorie des eingeschränkt rationalen Entscheidens. Ähnlich wie die Rationalwahltheorie, die ohne kühne Einschränkungen, zum Beispiel der...