We demonstrate that one should not expect convergence of the proposals to the subgame perfect Nash equilibrium offer in standard ultimatum games. First, imposing strict experimental control of the behavior of the receiving players and focusing on the behavior of the proposers, we show...

Many decision problems in various fields of application can be characterized as diagnostic problems trying to assess the true state (of the world) of given cases. The investigation of assessment criteria improves the initial information according to observed signal outcomes, which are related to...

Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition is a discovery procedure that serves the common good is a case in point. The hypothesis of the markets' efficient use of existing knowledge is supplemented by the idea that...

The theoretical literature identifies three important entrepreneurial dimensions, namely discovering new opportunities, responsiveness to uncertainty, and coordination of a firm. In the empirical literature, past experience has been identified as having an important influence on organizational...

This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers’ educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...

In order to explain the growth of obesity in industrialized and transition economies, a behavioral approach to food intake and overconsumption of calories is presented. It is argued that changes in food consumption patterns are one of the main drivers behind the imbalance of calories consumed...

The paper presents the methodology of Innovation Biographies that has been designed to study the time-space dynamics of knowledge and ways of knowledge combination in innovation processes. Innovation Biographies allow capturing relationships, contextual settings and different kinds of knowledge...

We study how financial market participants process news from four major central banks—the Bank of England (BoE), the Bank of Japan (BoJ), the European Central Bank (ECB), and the Federal Reserve (Fed)—using a novel survey of 195 financial market participants from around the world....

The development of standards and certification programs in global tourism has gained importance in consumption-production nexus. The paper is dealing with “Fair Trade in Tourism South Africa†(FTTSA), one of the first innovative service standards with a focus on the social dimension of...

By applying the evolutionary economic geography approach and focusing on the organizational dimension of the knowledge-based theory of the firm the paper intends to make both a conceptual and an empirical contribution to understand the ways in which knowledge dynamics unfold in time and space...