Political reforms can be understood as the reconfiguration of formal institutions. The rational choice of formal institutions is the core topic of the New Institutional Economics research program. While bounded rationality is a core assumption of the New Institutional Economics and the reason...

Bei aller Hysterie, die sich an Begriffen wie "Klimakatastrophe" festmachen laesst und die aktuell fast schon zu Bestandteilen des Glaubensbekenntnis mutieren, ist es fuer Oekonomen, die sich mit Umwelt und Umweltguetern beschaeftigen, umso wichtiger, nuechtern, abgewogen und rational zu...

No abstract available.

In economic literature comparisons between the American and German Council of Economic Advisors lead to the result that the American Council works quite well, whereas the German Council is broadly criticized. On a closer look, these conclusions are disputable. Therefore, in this contribution we...

Abstract From a political economy perspective, politicians often fail to implement structural reforms. In this contribution we investigate if the resistance to reform is based on the differences in the risk preferences of voters, politicians, and bureaucrats. Based on three surveys among the...