Climate change is a major challenge for weather-dependent industries such as winter tourism. Existing climate change impact assessments largely do not consider seasonality of demand and snow conditions are usually included as binary variable (e.g. ski area open or closed). With this paper we...

Think tanks and political leaders have raised concerns about the implications that the Covid-19 response and reconstruction might have on other social objectives that were setting the international agenda before the Covid-19 pandemic. We present experimental evidence for eight consecutive weeks...

This study presents experimental results on the role that non-binding pledges have on the ability of resource users to manage the threat of probabilistic group damages in two separate environments. First, an environment where agents can work collectively to try to mitigate the root cause of the...

International migrant workers are vulnerable to abuses by their employers. We implemented a randomized controlled trial of an intervention to reduce mistreatment of Filipino women working as domestic workers (DWs) by their household employers in Hong Kong and Saudi Arabia. The intervention -...

Subjective well-being (SWB) is becoming increasingly important as welfare concept in both scientific research and politics, as it comprises additional welfare aspects compared to the GDP per capita. Consequently, it becomes important to explicitly identify its driving forces and clarify still...

Rankings are a pervasive feature of the finance industry. Although they have no direct monetary consequences, rankings provide utility for intrinsic (positive self-image) and extrinsic (status) reasons. We recruit a unique subject pool of 204 financial professionals and investigate how anonymous...

By running a battery of incentivized and non-incentivized experiments with fund managers from four countries in the European Union, we investigate the impact of fund managers' cognitive skills and economic preferences on the dynamics of the mutual funds they manage. First, we find that fund...

We run an online experiment with 408 nance professionals (money managers) and 550 subjects from the general population in Sweden (clients). We examine drivers of clients' delegation decisions, differences in decision-making quality between both groups, and professionals' ability to implement...

In this paper we investigate how the experience of stock market shocks, like the COVID-19 crash, influences risk taking behavior. To isolate changes in risk taking from a variety of other confounding factors during stock market crashes, we ran controlled experiments with finance professionals in...

In real world financial markets, dividend processes as well as fundamental values are governed by imprecision; neither the objective probabilities of returns nor the actual amounts of possible returns are known for certain. With a novel experimental approach, we analyze the impact of risk,...