We experimentally analyze consoumers' reaction to insurance default risk. Consistent with eralier studies, we find that insurance with default risk is extremely unattractive to most individuals. A considerable fraction of consumers completely refuse to accept any default risk; others ask for...

The potential need for long-term care (LTC) is one of the greatest financial risks faced not only by the elderly, but also by their adult children, who often provide care or financial assistance. We investigate adult children’s role in the demand for LTC insurance. Similar to flood insurance,...

Much of the industrialized world is undergoing a significantdemographic shift, placing strain on public pension systems. Policymakers are responding with pension system reforms that put more weight on privately managed retirement funds. One concern with these changes is the effect on individual...

Much of the industrialized world is undergoing a significant demographic shift, placing strain on public pension systems. Policymakers are responding with pension system reforms that put more weight on privately managed retirement funds. One concern with these changes is the effect on individual...

We use a sample of 18 countries to study what variables have a significant impact on an individual’s decision to start a new business and classification and regression trees for an accurate interpretation of the data. Our results support existing literature suggesting the existence of strong...

We analyze the effects of prior gain and loss experiences on individuals’ behavior in twocoordination games: battle of the sexes and simultaneous market entry. We proposesubjectively transformed games that integrate elements of prospect theory, aggregation ofprior and subsequent payoffs, and...

We investigate the strategic decision behavior of female entrepreneurs in a realistic marketentry experiment where individuals started with gains or losses experienced prior to the game.We compare the entry behavior of female entrepreneurs to the entry behavior of maleentrepreneurs and to the...

Disinvestment, in the sense of project termination and liquidation of assets including thecession of a venture, is an important realm of entrepreneurial decision-making. This studypresents the results of an experimental investigation modeling the choice to disinvest as adynamic problem of...

Der Beitrag untersucht die Vorteilhaftigkeit von Kapitallebensversicherungsverträgen gegenüber alternativen Kapitalanlagen anhand von umfangreichen empirischen Daten für den Zeitraum 1956-1999 unter expliziter Berücksichtigung von Steuern. In der wissenschaftlichen Diskussion wurde in diesem...

Die marktwertorientierte Unternehmens- und Geschäftsbereichssteuerung in Finanzdienstleistungsunternehmen wird in der Literatur verstärkt diskutiert. Als Steuerungsinstrumente finden vor allem Konzepte der risikoadjustierten Performancesteuerung wie z.B. "RAROC" (Risk Adjusted Return on...