We analyze the legal reform concerning employees' inventions in Germany. Using a simple principal-agent model, we derive a unique efficient payment scheme: a bonus which is contingent on the project value. We demonstrate that the old German law creates inefficient incentives. However, the new...

The European Commission mandated the consulting firm CE Delft to develop a framework for the internalisation of external costs and to devise a number of potential internalisation scenarios for further analysis. The results of their preliminary research are published in a CE discussion paper, and...

Macht ist ein zentraler Bestandteil sozialer Interaktion. Obgleich eine Vielzahl gebräuchlicher Anschauungen und Begriffsdefinitionen zum Thema Macht existiert, erfordert ein wissenschaftlicher Umgang mit dem Konzept der Macht deren quantitative Operationalisierung. Der vorliegende Beitrag...

A frequently observed phenomenon in professional sports is apparent underpricing of tickets. The concept of social identity may explain this pricing behavior without giving up the assumption of profit-maximizing behavior. Repeated match attendance increases spectators' identification with the...

A frequently observed phenomenon in professional sports is apparent underpricing of tickets. The concept of social identity may explain this pricing behavior without giving up the assumption of profit-maximizing behavior. Repeated match attendance increases spectators' identification with the...