infonet-economy

Most economic models are limited to analyzing the behavior of a representative agent and, consequently, make the implicit assumption that either individuals are homogeneous
or that individual heterogeneity does not matter for the aggregate outcome. However, recent empirical evidence in experimental economics indicates that under strategic complementarity a minority of…

This book concentrates on how small European countries coped with economic integration and disintegration during the twentieth century. Small countries had to adapt flexibly to the drastically changing conditions outside their borders. They had to find ways of maintaining their political autonomy notwithstanding their economic dependence, and they have been quite successful in…

Europe comprises a large number of large and small countries with varying internal rules and norms, and the differences are still remarkable.1 The literature on varieties of capitalism, for example, highlights common features for some of the European countries during specific periods of time, and even within the European Union not convergence, but instead uneasy rivalry, seems to…

The influence of the environment and genetics on individual biological characteristics such as body mass and stature is well known. Many studies of these relationships have been based on conscript data. These studies often suffer from the fact that their data cover only a part of the population. Characterized by prosperity, democratic stability and enormous micro-regional cultural…

The acknowledged importance of uncertainty in economic decision making has stimulated the search for neural signals that could influence learning and inform decision mechanisms. Current views distinguish two forms of uncertainty, namely risk and ambiguity, depending on whether the probability distributions of outcomes are known or unknown. Behavioural neurophysiological studies on…

In 2000 Baddeley proposed the existence of a new component of working memory, the episodic buffer, which should contribute to the on-line maintenance of integrated memory traces. The author assumed that this component should be critical for immediate recall of a short story that exceeds the capacity of the phonological store. Accordingly, patients with Alzheimer's dementia (AD)…

Structured financial products have gained more and more popularity in recent years, but nevertheless has their success so far not thoroughly been analyzed. In this article we develop a theoretical framework for the design of optimal structured products and analyze the maximal utility gain for an investor that can be achieved by introducing structured products. We demonstrate that…

The linkage of development cooperation with migration policies has been promoted widely by international organizations from 2000 onwards. This paper analyses the factors that have prompted and impeded a reorientation of the dominant migration policy-frame within the EU towards the realization of a migration– development nexus. It is argued that external events such as the…