Aus dem Problem des Institutionstransfers (der englischen Ökonomik auf deutsche Verhältnisse) entstand im frühen 19. Jahrhundert die historische Methode – und die erste Institutionenökonomie. Was die englische Politische Ökonomik als allgemeingültige Theorie vorschlug, liess sich auf...

Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal-at least partly-from an assumed positive intrinsic...

A framework is proposed for organizing phenomena related to the (mis)prediction of utility, in particular neglecting adaptation. A categorization is introduced that accounts for asymmetries in misprediction. In decision-making, goods and activities satisfying extrinsic desires are more salient...

We propose a heteroscedastic regression model to identify the determinants of the dispersion in interest rates on loans granted to small and medium sized enterprises. We interpret unexplained deviations as evidence of the banks' discretionary use of market power in the loan rate setting process....