Bayesian decisions are observationally identical to decisions with judgment. Decisions with judgment test whether a judgmental decision is optimal and, in case of rejection, move to the closest boundary of the confidence interval, for a given confidence level. The resulting decisions condition...

We analyze consumer demand behavior using Dynamic Random Utility Model (DRUM). Under DRUM, a consumer draws a utility function from a stochastic utility process in each period and maximizes this utility subject to her budget constraint. DRUM allows unrestricted time correlation and cross-section...

We study an experiment of the students-proposing deferred acceptance mechanism (DA) in matching markets where firms are matched with students. We investigated the two different situations: (i) Students know firms' preferences and firms submit their true preference, (ii) Students know firms'...

Klimapolitische Entscheidungen sind herausfordernd. Eine besondere Schwierigkeit liegt in der Folgeabschätzung: Meist sind zwar die möglichen Handlungsfolgen, nicht aber deren Wahrscheinlichkeiten bekannt (Entscheidungen unter Unsicherheit). Mitunter ist sogar unklar, welche Handlungsfolgen...