This paper reports the results from a large online experiment in which we examine gender differences in time preferences. Subjects choose in different situations between receiving an immediate payment and receiving a different sum later. We find that more men than women are impatient and choose...

We show that the well-known result that static union models overstate distortions caused by unionism only holds in the special case of firm-level wage setting. With centralized wage setting, however, it rather depends on both the elasticity of labor demand and union's time preference rate...

In this note we show at the example of an experimental stock market, conducted on the occasion of the World Soccer Championship 2010 in South Africa, how tournament incentives might contribute to the formation of asset price bubbles.

When no appropriate markets to derive expectations on economic variables are available surveying methods are often employed. However, surveys suffer from the problem of how to aggregate individual expectations in a reasonable manner. We show at the example of a market on the ECB's main...