No measurement without theory. Ex post inferences from descriptive statistics or regression analyses are often misleading. Although this is well known, it is still a frequent occurrence. In this paper we illustrate the problem by analysing a dataset that appears to suggest that there is a...

Rationales und emotionales Verhalten werden zu Unrecht als vollständige Gegensätze angesehen. Automatisch entstehende Emotionen dienen vielmehr einer oft vorteilhaften Selbstbindung. Objektiv irrationale Drohungen werden glaubhaft, Versprechungen müssen nicht durch kostspielige Verträge oder...

We analyze the problem of selling shares of a divisible good to a large number of buyers when demand is uncertain. We characterize equilibria of two popular mechanisms, a fixed price mechanism and a uniform price auction, and compare the revenues. While in the auction truthful bidding is a...