Experience goods are characterized by information asymmetry and a lack of ex ante knowledge of product quality, such that credible and reliable external signals of product quality are likely to be highly valued. Due to their independence and expert reputations, professional critics therefore...

As correlations of asset returns increased and diversification effects vanished during the financial crisis, the search for new and potentially uncorrelated asset classes gains importance. As a result, several asset classes have been analyzed by academics in order to determine their...

Die Einführung europäischer oder nationaler Geschlechterquoten mit dem Ziel der Chancengleichheit für Frauen wird derzeit heiß diskutiert. In Deutschland ist der Frauenanteil in den Führungspositionen relativ gering und die Lohnlücke zwischen Männern und Frauen relativ groß. In diesem...

Republished as CIE Working Paper 2014-06

Suppose some individuals are allowed to engage in different groups at the same time and they generate a certain welfare by cooperation. Finding appropriate ways for distributing this welfare is a non-trivial issue. The purpose of this work is to analyze two-stage allocation procedures where...

The aim of this paper is to analyze the long-term and short-term risk components in Chinese financial market and to compare them with those in mature financial markets. For this purpose a most recently proposed Semi-APARCH is applied to the Shanghai Index and the Shenzhen Index, and four...

This paper analyzes the impact of migration on destination-country corruption levels. Capitalizing on a comprehensive dataset consisting of annual immigration stocks of OECD countries from 207 countries of origin for the period 1984-2008, we explore different channels through which corruption...

Ameriks, Caplin, Leahy & Tyler (2007) study how lack of self-control may lead to overconsumption and low wealth accumulation. For their analysis, the authors calculate difference scores from their survey questions. We review their study and highlight potential issues in the use of difference...

In the framework of spatial competition, two or more players strategically choose a location in order to attract consumers. It is assumed standardly that consumers with the same favorite location fully agree on the ranking of all possible locations. To investigate the necessity of this...

This paper deals with possible foreign reactions to domestic carbon demand reducing policies. It differentiates between demand side and supply side reactions as well as between intra- and intertemporal shifts of greenhouse gas emissions. In our model, we integrate a stock-dependent marginal...