Regulatory policies often aim to steer the behaviour of economic agents by changing their framework conditions. Assessing the impact of such policies requires forecasts of how humans adapt to changes in their economic environment. A prerequisite for a meaningful policy impact analysis is a...

Weather-index insurances are innovative risk management instruments that - compared to conventional insurances - cause low administration and regulation costs and are not accompanied by moral hazard or adverse selection problems. Despite these advantages, farmers make little use of weather-index...