This paper examines how households adjust their savings and consumption expenditure in response to an anticipated increase in the early retirement age (ERA). We examine the 1999 pension reform in Germany, which…
As resource users interact and impose externalities onto each other, institutions are needed to coordinate resource use, create trust, and provide incentives for sustainable management. Coordinated collective…
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…
Increases in youth vaping rates and concerns of a new generation of nicotine addicts recently prompted an increase in the federal minimum legal purchase age (MLPA) for tobacco products, including e-cigarettes,…
One of the key pillars of the European Green Deal is a renewed sustainable finance strategy to finance sustainable growth and to channel private investments towards projects that support the transition to a…
After the 2021 flood events in Germany, the introduction of compulsory flood insurance is debated. However, insurance coverage for private buildings and belongings may undermine the willingness to pay for…