Procedurally Fair Provision of Public Projects An axiomatic characterization

Unanimous voting as the fundamental procedural source of political legitimacy grants veto power to each individual. We present an axiomatic characterization of a class of bidding processes to spell out the underlying egalitarian values for collective projects of a "productive state". At heart of such procedures is the determination of payments for all possible bid vectors such that equal "profits" according to bids emerge. Along with other intuitive requirements this characterizes procedurally fair bidding rules for advantageous projects of a collectivity.Unanimity in Collective Decision Making, Buchanan, Wicksell

(Over-)Stylizing Experimental Findings and Theorizing with Sweeping Generality

Human decision making is a process guided by different and partly competing motivations that can each dominate behavior and lead to different effects depending on strength and circumstances. 'Over-stylizing' neglects such competing concerns and context-dependence, although it facilitates the emergence of elaborate general theories. We illustrate by examples from social dilemma experiments and inequality aversion theories that sweeping empirical claims should be avoided.decision theory, social dilemmas, inequality aversion, behavioral economics, experimental economics

(Mindest)Standards als Koordinationshilfe – Zur Debatte um Mindestlöhne

Mindestlohn, Niedriglohn, Arbeitsplatz, Beschäftigungseffekt, Schwarzarbeit, Schattenwirtschaft, Ordnungspolitik, Arbeitslosigkeit, Arbeitsmarkt, Reform, Dumping, Arbeitnehmer, Armut, Humankapital, Arbeitsangebot, Sozialstaat, Deutschland

Nudging als politisches Instrument - gute Absicht oder staatlicher Übergriff?

Die Verhaltensökonomie und ihre praktischen Implikationen geraten immer stärker in den Fokus auch der deutschen Politik. Individuelle Entscheidungen sollen im Sinne eines „libertären Paternalismus“ „sanft“ beeinflusst werden. Die „Nudges“ bestehen in Standardvorgaben, Selbstbindungen und der Informationsbereitstellung. Deren Anwendung setzt allerdings die Klärung einiger Fragen voraus: Wer darf sich anmaßen, für die Wirtschaftssubjekte „kluge“ Entscheidungen zu treffen? Bei welchen Entscheidungen sind Eingriffe einer anderen Instanz begründbar? Mit welchem Zeithorizont und aufgrund welcher Wohlfahrtsüberlegungen wird eine Entscheidung als „richtig“ definiert? Welcher Rationalitätsbegriff steht hinter dem Konzept

Colossal magnetoresistance in EuZn2_2P2_2 and its electronic and magnetic structure

We investigate single crystals of the trigonal antiferromagnet EuZn$_2$P$_2$ ($P\overline{3}m1$) by means of electrical transport, magnetization measurements, X-ray magnetic scattering, optical reflectivity, angle-resolved photoemission spectroscopy (ARPES) and ab-initio band structure calculations (DFT+U). We find that the electrical resistivity of EuZn$_2$P$_2$ increases strongly upon cooling and can be suppressed in magnetic fields by several orders of magnitude (CMR effect). Resonant magnetic scattering reveals a magnetic ordering vector of $q = (0\, 0\, \frac{1}{2})$, corresponding to an $A$-type antiferromagnetic (AFM) order, below $T_{\rm N} = 23.7\,\rm K$. We find that the moments are canted out of the $a-a$ plane by an angle of about $40^{\circ}\pm 10^{\circ}$ degrees and tilted away from the [100] - direction by $30^{\circ}\pm 5^{\circ}$. We observe nearly isotropic magnetization behavior for low fields and low temperatures which is consistent with the magnetic scattering results. The magnetization measurements show a deviation from the Curie-Weiss behavior below $\approx 150\,\rm K$, the temperature below which also the field dependence of the material's resistivity starts to increase. An analysis of the infrared reflectivity spectrum at $T=295\,\rm K$ allows us to resolve the main phonon bands and intra-/interband transitions, and estimate indirect and direct band gaps of $E_i^{\mathrm{opt}}=0.09\,\rm{eV}$ and $E_d^{\mathrm{opt}}=0.33\,\rm{eV}$, respectively, which are in good agreement with the theoretically predicted ones. The experimental band structure obtained by ARPES is nearly $T$-independent above and below $T_{\rm N}$. The comparison of the theoretical and experimental data shows a weak intermixing of the Eu 4$f$ states close to the $\Gamma$ point with the bands formed by the phosphorous 3$p$ orbitals leading to an induction of a small magnetic moment at the P sites

From full to bounded rationality

Deriving advice that can in fact be utilized by boundedly rational decision makers is a central function of modeling choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior of boundedly rational individuals. In view of such a causal role of theories we discuss how advice of a theory of boundedly rational behavior can become known, be followed among boundedly rational individuals and still be good advice