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Capital structure irrelevance in the laboratory: an experiment with complete and asymmetric information
This article presents a laboratory experiment about capital structure irrelevance. The equity and debt issued by a firm are traded in two...
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Contributing with private bundles to public goods
We extend to multiple private commodities the seminal model by Bergstrom et al. (J Public Econ 29:25–49, 1986) on the private provision of public...
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Preventive-service fraud in credence good markets
Preventive dental care and automotive service is intended to preempt problems that, if they materialized, would require costly treatment or repair....
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Big Data und Preisdiskriminierung
We discuss personalised pricing with big data. Personalised prices tend to shift surpluses from consumers to firms, at the same time they have the...
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Duopoly price competition with limited capacity
We study a variation of the duopoly model by Kreps and Scheinkman (1983). Firms limited by their capacity of production engage in a two stage game....
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Hidden advertisement, signaling, and directed search
This paper studies a directed search model where sellers have limited capacities, and buyers cannot observe the varying number of advertisements each...
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Information aggregation in large collective purchases
Society uses the following mechanism to decide on the supply of an experience good. Each agent can choose whether or not to contribute to the good....
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Auswirkungen der Markttransparenzstelle für Kraftstoffe
The authors analyse how the market transparency unit for fuels in Germany affects both supplier and consumer behaviour. The number of price changes...
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Qualitative Variablen
Qualitative Variablen spielen eine wichtige Rolle in der empirischen Wirtschaftsforschung, da nicht alle ökonomisch relevanten Größen in Form...
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Diversification of Dairy Exports
Chapter 7 reviews New Zealand’s diversification to new dairy export markets together with the many obstacles to that diversification. The realisation...
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Weniger ist mehr – die EU in der Sackgasse eines zentralistischen Integrationsverständnisses
Current European integration very much focusses on harmonisation and convergence. This streamlining goes far beyond what is demanded by economic...
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A Theory of Profit and Competition
Starting from the observation that surplus-value is almost always due to the collective undertaking of non-additively separable human capital...
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Economics 2.0: The Natural Step towards a Self-Regulating, Participatory Market Society
Despite all our great advances in science, technology and financial innovations, many societies today are struggling with a financial, economic and...
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Demand for reserves and the central bank’s management of interest rates
The implementation of monetary policy is prevalently done by interest rate targeting with a short term market rate serving as operational target. The...
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Agent-Based Model of the Stock Market
In the framework of microscopic simulation, a mathematical model of the stock exchange is developed for the case of one type of shares. The model...
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Comparing High Frequency Data of Stocks that are Traded Simultaneously in the US and Germany: Simulated Versus Empirical Data
This paper investigates both the no-arbitrage condition and the efficiency of financial markets by comparing two stock markets: NYSE and XETRA. We...
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International price differences in ski lift tickets
This paper provides empirical evidence on international price differences in ski lift tickets based on 214 ski areas in Austria, France, and...
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Limit pricing under third-degree price discrimination
This paper shows how a multimarket incumbent can use low pre-entry prices for entry deterrence. We consider an incumbent who operates in two...
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Competition and price asymmetries in the Greek oil sector: an empirical analysis on gasoline market
This article attempts to investigate the issue of asymmetries in the transmission of shocks to input prices and exchange rate onto the wholesale and...
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A Hotelling style model of spatial competition for a convenience good
Ordinarily people do not make special purpose trips to acquire goods like gasoline or groceries but instead buy them as the need arises in the course...