Consumers acquire information through their own search efforts or through word-of-mouth
communication within their social network. Information diffusion leads to free-riding and
less active search. Free-riding…

Start-up subsidies play an important role in supporting start-up innovation and performance. However, what characteristics help and hinder start-ups to seek public subsidies remains unclear. We study whether and…

The winner’s curse describes the behavioural phenomenon that the winner of a bidding contest pays a price that is too high. This paper shows that experiential learning cannot prevent a winner’s curse on the…

We study the effect of a state level mandate on renewable heating technologies on the housing market. The mandate requires a minimum share of 10 % renewable energy sources when changing the heating system in the…

The usual analysis of bidding in first-price auctions assumes that bidders know the distribution of valuations. We analyze first-price auctions in which bidders do not know the precise distribution of…

We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big…

R&D tax credit schemes have become important components of innovation policy in many industrialized countries. Governments are using substantial amounts of taxpayers’ money to subsidize firms’ R&D activities…

Review systems including quantitative measures as well as text-based expression of experiences are omnipresent in today’s digital platform economy. This paper studies the existence of reputation inflation, i.e.…

We examine the financial resilience of Austrian households, relating it to their experience of financial shocks earlier in life and to their financial literacy. We find that previous negative (positive)…