In this paper, we attempt to shed light on whether Japanese households are rational or if their behavior is influenced by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that Japan's household saving rate showed great volatility,...

Based on unique data from a representative computer-based survey among financial decision makers in Germany, this paper empirically examines the determinants of socially responsible investments (SRI). Our econometric analysis implies that the perceived financial performance of SRI matters for...

The behaviour of urban populations is compared with the systems directing behaviour in individuals. This is both a metaphor and a mechanistic parallel. The biological model draws upon recent developments in brain research and psychological and cultural anthropology. The development and operation...