Governments, central banks, and private organizations frequently face the challenge of convincing their audience to take a specific action. One key choice is whether to send a public message that can coordinate the audience's actions or to rely instead on private messages that may differ across...

While climate change is widely considered as a major challenge for societies, another pressing global environmental problem, i.e. the loss of biodiversity, is often given less attention despite its strong negative consequences for ecosystems and thus for human life. In light of the strong...

Inspired by the controversial public and political debate in the European Union (EU) about legal initiatives to protect human rights and the environment along supply chains (e.g., the Corporate Sustainability Due Diligence Directive, CSDDD), this paper examines individual preferences for...

Legal norms can have a direct effect on individual behavior through their legal enforcement. However, according to the 'expressive function of law,' they can also have indirect effects on individual behavior by shaping related social norms. Since evidence for this expressive function is scarce,...

While climate change is widely considered as a major challenge for societies, another pressing global environmental problem, i.e. the loss of biodiversity, is often given less attention despite its strong negative consequences for ecosystems and thus for human life. In light of the strong...

Inspired by the controversial public and political debate in the European Union (EU) about legal initiatives to protect human rights and the environment along supply chains (e.g., the Corporate Sustainability Due Diligence Directive, CSDDD), this paper examines individual preferences for...

Legal norms can have a direct effect on individual behavior through their legal enforcement. However, according to the 'expressive function of law,' they can also have indirect effects on individual behavior by shaping related social norms. Since evidence for this expressive function is scarce,...

Based on a randomized controlled trial, this paper compares individual investment decisions in pre-registered non-incentivized and incentivized choice experiments to examine hypothetical bias. Using data from a representative sample of over 2,100 individual investors from Germany and France, our...