In the classical cake-cutting problem, strategy-proofness is a very costly requirement in terms of fairness: for n=2 it implies a dictatorial allocation, whereas for n ≥ 3 it implies that one agent receives no…

Using two lab experiments, we investigate the real-life performance of envy-free and proportional cake-cutting procedures with respect to fairness and preference manipulation. Although the observed subjects'…

Many business-owning families aspire to someday transfer their firm to the next family generation. Controversy surrounds the question of how these transgenerational intentions affect risky growth strategies such…

We study the determinants of emission leakage using a two-country general equilibrium model with heterogeneous firms and Cournot competition. We show that firms from the nonregulating country respond to the…

This article shows that competition exerts a feedback effect on market structure via the process of innovation. First, downstream competition increases the willingness to pay for a more efficient technology (the…

Yes, they would. In a randomized control trial, we provide groups of respondents from the Bundesbank Online Panel Households with information about a hypothetical alternative ECB monetary policy regime akin to…

The approach by Engelberg, Manski, and Williams (2009) to convert probabilistic survey responses into continuous probability distributions implicitly assumes that the question intervals are equally wide. Almost…

Based on a new survey of German households, we investigate the role that information channels and lifetime experience play in households’ inflation expectations. We show that the types of information channels…

Although survey‐based point predictions have been found to outperform successful forecasting models, corresponding variance forecasts are frequently diagnosed as heavily distorted. Professional forecasters who…