Although algorithms make more accurate forecasts than humans in many applications, decision-makers often refuse to resort to their use. In an economic experiment, we examine whether the extent of this phenomenon known as algorithm aversion can be reduced by granting decision-makers the...

Seit langer Zeit konkurrieren monetäre und nicht-monetäre Ursachen bei der Erklärung von Inflation. Während Milton Friedman ("Inflation is always and everywhere a monetary phenomenon") die erste Position vertritt, finden z.B. Paul Samuelson oder John Cochrane auch Argumente für...

Technological progress in recent years has made new methods available for making forecasts in a variety of areas. We examine the success of ex-ante stock market forecasts of three major stock market indices, i.e., the German Stock Market Index (DAX), the Dow Jones Industrial Index (DJI), and the...

Within the framework of a laboratory experiment, we examine to what extent algorithm aversion acts as an obstacle in the establishment of robo advisors. The subjects had to complete diversification tasks. They could either do this themselves or they could delegate them to a robo advisor. The...