The anchoring-and-adjustment heuristic has been studied in numerous experimental settings and is increasingly drawn upon to explain systematically biased decisions in economic areas as diverse as auctions, real estate pricing, sports betting and forecasting. In these cases, anchors result from...

Economic small group research points to groups as more rational decision-makers in numerous economic situations. However, no attempts have been made to investigate whether groups are affected similarly by behavioral biases that are pervasive for individuals. If groups were also able to more...

Economic small group research points to groups as more rational decision-makers in numerous economic situations. However, no attempts have been made to investigate whether groups are affected similarly by behavioral biases that are pervasive for individuals. If groups were also able to more...

The dissertation consists of two parts. The first part investigates whether and how to protect cultural goods. In particular, Chapter II analyses how the notion of social identity affects the respective demand for protection of cultural goods independent of its tangible or intangible nature....

Reverse auctions are an established policy instrument for allocating conservation contracts. While the auction mechanism has been the subject of a number of studies, less attention has been paid to the post-bidding contract phase. As contracts involving natural resource management are usually...

Ziel dieser Arbeit ist es, Innovationen außerhalb von F&E zu beleuchten und zu einer breiteren und tieferen Wertschätzung von Lern- und Wissensschaffungsprozessen beizutragen, die für mitarbeiter- und individuumsgesteuerte Innovationen entscheidend sind. In mehreren Papern wird gezeigt, dass...

Wirtschaftsprognosen sollen die Unsicherheit bezüglich der zukünftigen wirtschaftlichen Entwicklung mindern und Planungsprozesse von Regierungen und Unternehmen unterstützen. Empirische Studien bescheinigen ihnen jedoch in aller Regel ein unbefriedigendes Qualitätsniveau. Auf der Suche nach...

The first essay “Informational Asymmetries in Laboratory Asset Markets with State-Dependent Fundamentals” investigates the formation of market prices in a new experimental setting involving multi-period call-auction asset markets. In this paper, we are particularly interested in two...