Paul Hünermund – Economic History: Antibiotics

Some time ago I wrote about a paper of mine (Hünermund et al., 2015) in which my coauthors and me develop a model to explain the occurrence of industry shakeouts. Shakeouts are a phenomenon which we encounter frequently in new industries. At one point in time, a large number of relatively small firms, previously operating […]

Fabian Braesemann – The Psychology of Behavioural Economics

Behavioral economics has established the idea that the psychology of decisions is an important part of current economics. Its rise has become an interesting phenomenon of methodological change in economics that has been analyzed by historians of economic thought. However, the opinions about the origins of behavioral economics and about its influence on the main […]

Fabian Stephany – Income Inequality and Organisational Trust

Introduction The undesirable outcomes linked to high levels of income inequality are numerous. Among several, these are poor educational performance (Kawachi et al. 1997), violence (Patterson 1991), low levels of wellbeing (Alesina et al. 2004) and health (Wilkinson 1992), as well as slow economic growth (Barro 2000) or low provision rates of social goods (Wilkinson […]

Fabian Stephany – Who are Your Joneses?

Trust is a good approach to explain the functioning of markets, institutions or society as a whole. It is a key element in almost every commercial transaction over time and might be one of the main explanations of economic success and development. Explaining the roots and patterns of trust across time and space, researchers have […]

Fabian Braesemann – The Turn in Economics

My master thesis Identitätswandel der VWL: Die Rolle der Verhaltensökonomie im Wandel von neoklassischer Dominanz zur pluralistischen Wissenschaft (2013) is a first attempt to analyze the development of behavioral economics with quantitative means. Its approach consists of two parts. First, hypotheses emerging from the philosophy of science about the relation of today’s economics to its […]