This paper gives an overview of simulation based procedures, which have proved to be efficient in valuing American options and therefore real options. Many of them integrate sequential stochastic simulations in the backward recursive programming approach to determine the early-exercise frontier....

The probability that actors in economic relationships break rules increases with the profits they thus expect to earn. It decreases with the probability and level of short- and long-term losses resulting from disclosure. It also decreases with the level of social context factors and intrinsic...

Since the mid-1990s, agricultural economists have discussed the relevance of index-based insurances, also called “weather derivatives”, as hedging instruments for volumetric risks in agriculture. Motivated by the question of how weather derivatives should be priced for agricultural firms,...

A series of food scandals has indicated lately that misdirected economic incentives, in conjunction with a lack of norms to abide by the law, induce non-compliance with food regulations and thus behavioural food risks. Against this background, we outline both the specific need for regulation and...

Die Effizienzanalyse mit Hilfe der Data-Envelopment-Analyse (DEA) stellt ein weit verbreitetes Verfahren zur vergleichenden Einschätzung der empirischen Performanz von Entscheidungseinheiten (z.B. Unternehmen) dar. Angesichts „boomender“ Anwendungen auf eine Vielzahl...

Politik hat vielfach zum Ziel, das Verhalten von Wirtschaftssubjekten durch eine Veränderung der Rahmenbedingungen zu steuern. Bei der Politikfolgenabschätzung müssen deshalb Voraussagen gemacht werden, wie Menschen sich an veränderte ökonomische Bedingungen anpassen. Eine wichtige...

Replacements for corporate farm managers are increasingly hard to find. At the same time, a large pool of potential managers is hardly exploited: young female professionals. Focusing on the supply side of the labour market for managers, we investigate how gender-specific life aspirations impact...

In the past decades, a great interest has emerged in understanding the nature of people’s well-being beyond consumption opportunities. It is widely believed that happiness research based on self-reports on people’s satisfaction with life has made a significant contribution to this...

In the past, regulatory impact analysis was predominantly based on the rational-choice-assumption of a completely informed and exclusively profit-maximizing homo oeconomicus. Real economic actors, however, are multiple-goal and boundedly rational decision-makers. An exclusive reliance on...