Previous work suggests a general uncertainty surrounding the migration process acts as a barrier to outmigration. In this paper, we argue that this barrier is exacerbated when relative economic policy…

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.…