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On the Stability of Social Preferences in Inter-Group Conflict: A Lab-in-the-Field Panel Study

Despite the omnipresence of inter-group conflicts, little is known about the heterogeneity and stability of individuals’ social preferences toward in-group and out-group members. To identify the prevalence and stability of social preferences in inter-group conflict, we gather quota-representative, incentivized data from a lab-in-the-field study during the heated 2016 Austrian presidential election. We assess social preferences toward in-group and out-group members one week before, one week after, and three months after the election. We find considerable heterogeneity in individuals’ group-(in)dependent social preferences. Utilizing various econometric strategies, we find largely stable social preferences over the course of conflict. Yet, there is some indication of variation, particularly when the conflict becomes less salient. Variation is larger in social preferences toward in-group members and among specific preference types. We discuss the theoretical implications of our findings and outline potential avenues for future research.

Böhm, R., Fleiß, J. und Rybnicek, R. (2021): On the Stability of Social Preferences in Inter-Group Conflict: A Lab-in-the-Field Panel Study, in: Journal of Conflict Resolution, Vol. 65, No. 6, pp. 1215-1248, doi: https://doi.org/10.1177/0022002721994080.

Kontakt: Robert Rybnicek, Institut für Unternehmensführung und Entrepreneurship, Tel.: 0316/380 - 7355

 
Optimal internal control regulation: Standards, penalties, and leniency in enforcement

To protect investors, regulators increasingly rely on regulating firms’ internal controls over financial reporting, but they punish noncompliance only if an internal control weakness enabled accounting manipulation. In other words, enforcement is manipulation-contingent. We develop an economic model with a manager who sequentially chooses internal control quality and manipulative effort, and a welfare-maximizing regulator who determines an internal control standard, the penalty size for internal control weaknesses, and when to invoke such a penalty. Internal control regulation under manipulation-contingent enforcement not only provides incentives to invest in internal controls, but also improves manipulation deterrence when there are internal control weaknesses. The optimal regulation takes advantage of this additional deterrence effect by using a very strict internal control standard and an intermediate penalty that is only levied in the event of accounting manipulation. Overall, we rationalize why the commitment to lenient enforcement of internal control regulation is optimal.

Schantl, S. F. und Wagenhofer, A. (2021): Optimal internal control regulation: Standards, penalties, and leniency in enforcement, in: Journal of Accounting and Public Policy, Vol. 40, No. 3, pp. 1-15, doi: https://doi.org/10.1016/j.jaccpubpol.2020.106803.

Kontakt: Alfred Wagenhofer, Institut für Unternehmensrechnung und Controlling, Tel.: 0316/380 - 3500

 
Personal taxation and individual stock ownership

Under a differential taxation system, portfolio allocation decisions are based not only on the risk-return relationship of assets but also on their tax characteristics. The higher the tax burden on equity securities, the lower the share of stock investment in a tax-optimal portfolio. I use a multitude of changes in personal tax rates to assess the impact of personal taxes on individual stock ownership among a sample of 9,055 listed European firms. I observe lower levels of individual stock ownership, if relative personal taxes on stock ownership are higher than personal taxes on bonds. Cross-sectional evidence further reveals that the relation between personal taxation and individual stock ownership is significantly moderated by firm-specific risk. I additionally provide single country evidence of a tax clientele effect. Following an increase in the personal capital gains tax rate in Austria, I find individual owners to rebalance stock ownership to maximize after-tax returns in light of the new tax rules.

Rünger, S. (2021): Personal taxation and individual stock ownership, in: The European Journal of Finance, Vol. 27, No. 6, pp. 596-611, doi: https://doi.org/10.1080/1351847X.2020.1837899.

Kontakt: Silke Rünger, Institut für Unternehmensrechnung und Steuerlehre, Tel.: 0316/380 - 6442

 
Dual Citizenship and Naturalisation. Global, Comparative and Austrian Perspectives

The toleration of dual citizenship has become a global trend as states try to retain ties to their emigrants or to encourage their immigrants to naturalise. This volume examines changes in state attitudes and their social impact, zooming in from analyses of global dynamics to a series of country case studies that illustrate the variety of reasons and intentions behind dual citizenship reform. Finally, five chapters provide the most thorough analysis of the special Austrian case so far. They show the size of Austria’s untapped potential for naturalisation of immigrants, the incoherence of its citizenship policies at home and abroad, and the need for a comprehensive reform.

Bauböck, R. und Haller, M. (Hrsg.) (2021): Dual Citizenship and Naturalisation. Global, Comparative and Austrian Perspectives, Verlag der Österreichischen Akademie der Wissenschaft, Wien.

Kontakt: Max HallerInstitut für Soziologie, Tel.: 0316/380 - 3540

 
The (non-)robustness of influential cheap talk equilibria when the sender's preferences are state independent

Chakraborty and Harbaugh (Am Econ Rev 100(5):2361–2382, 2010) prove the existence of influential cheap talk equilibria in one sender one receiver games when the state is multidimensional and the preferences of the sender are state independent. We show that influential equilibria do not survive the introduction of any small degree of Harsanyi-uncertainty, i.e., uncertainty about the sender’s preferences in the spirit of Harsanyi (Int J Game Theory 2(1):1–23, 1973).

Diehl, C. und Kuzmics, C. (2021): The (non-)robustness of influential cheap talk equilibria when the sender’s preferences are state independent, in: International Journal of Game Theory, pp. 1-15, doi: https://doi.org/10.1007/s00182-021-00774-0 [19.4.2021].

Kontakt: Christoph Kuzmics, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7111

 
Neglecting Peter to Fix Paul: How Shared Directors Transmit Bank Shocks to Nonfinancial Firms

We trace a corporate governance channel of bank shock transmission into the real economy. Using 1,245 U.S. bank enforcement actions (EAs) issued between 1990 and 2017, we show that when a nonfinancial firm (NFF) and bank share a common director, NFF stock prices fall around bank EAs. Severe EAs elicit more negative returns. During enforcement, valued directors substitute NFF board meeting attendance with bank board meeting attendance. Impaired credit relationships, director reputational damage, and endogenous director selection cannot fully explain our results. These findings imply that shared directors could transmit larger bank shocks into the real economy.

Pugachev, L. und Schertler, A. (2020): Neglecting Peter to Fix Paul: How Shared Directors Transmit Bank Shocks to Nonfinancial Firms, in: Journal of Financial and Quantitative Analysis, pp. 1-38, doi: https://doi.org/10.1017/S0022109020000587 [27.7.2020].

Kontakt: Andrea Schertler, Institut für Banken und Finanzierung, Tel.: 0316/380 - 7302

 
An investigation of knowledge protection practices in inter-organisational collaboration: protecting specialised engineering knowledge with a practice based on grey-box modelling

This paper reports about data-centric knowledge protection practices in the semi-conductor industry. The authors explore a grey-box modeling approach used for transferring data about machines and their operation in joint R&D projects. A total of 33 interviews have been conducted in two rounds: 30 interviews explore knowledge protection practices applied across a large project. SCHOLAR and APPLIER communicate using a data-centric knowledge protection practice, in that concrete parameter values are sensitive and hidden by communicating data within a wider parameter range. This practice balances the benefit that all three stakeholders have from communicating about specifics of machine design and operations. The line of thought described in this study is applicable to comparable collaboration constellations of a SUPPLIER of a machine, an APPLIER of a machine and a SCHOLAR who analyses and draws insights out of data. The paper fills a research gap by reporting on applied knowledge protection practices and characterising a data-centric knowledge protection practice around a grey-box model.

Kaiser, R., Thalmann, S. und Pammer-Schindler, V. (2020): An investigation of knowledge protection practices in inter-organisational collaboration: protecting specialised engineering knowledge with a practice based on grey-box modelling, in: VINE Journal of Information and Knowledge Management Systems, pp. 1-19, doi: https://doi.org/10.1108/VJIKMS-11-2019-0180 [24.7.2020].

Kontakt: Stefan Thalmann, Institut für Operations und Information Systems, Tel.: 0316/380 - 7600

 
Organizational inclusion and identity regulation: How inclusive organizations form ‘Good’, ‘Glorious’ and ‘Grateful’ refugees

Do inclusive organizations live up to the term ‘inclusion’? Diversity literature depicts the inclusive organization as an ideal entity that welcomes social minorities who, in turn, feel valued and unique and have a sense of belonging to the organization. Our study offers a critical account of inclusion concepts and practice. We argue that proponents of inclusion overlook that inclusive organizations also may regulate workers’ identities. To examine the relationship between organizational inclusion and identity regulation we conceptualise inclusion as a process involving various organizational actors and practices. Drawing on a multiple-case study of refugees working in Austria we show how organizational practices aimed at inclusion contribute to the forming of refugees as ‘good’, ‘glorious’ and ‘grateful’ subjects. This identity regulation is ambivalent: while it allows refugees to work in inclusive organizations, it also constrains their sense of self.

Ortlieb, R., Glauninger, E. und Weiss, S. (2020): Organizational inclusion and identity regulation: How inclusive organizations form ‘Good’, ‘Glorious’ and ‘Grateful’ refugees, in: Organization, Vol. 28, No. 2, pp. 266-288, doi: https://doi.org/10.1177%2F1350508420973319.

Kontakt: Renate Ortlieb, Institut für Personalpolitik, Tel.: 0316/380 - 7189

 
Money Knowledge or Money Myths? Results of a population survey on money and the monetary order

People use money in everyday life in ubiquitous ways. In addition, they know that money has quite different and multiple meanings in different social contexts, depending on the situation in which it is used. That said, what do people actually know about money, money creation, money backing and the institutional foundations of the monetary order? While contributions in the rapidly extending field of financial literacy have empirically studied people’s knowledge about mathematical and financial issues, people’s knowledge about the functioning of the money system and monetary institutions remained mostly unexplored. To improve our understanding of people’s knowledge of the money system and the most important money institutions, we questioned 2,000 individuals in Austria using a standardized population survey. In this paper, after a short critical review of the sociology of money and the literature on financial literacy, we present and critically discuss the results of the survey. We found that, independently of age, gender, education and income, people know very little about the money system or money institutions and mostly believe in money myths, such as the notion that money is still backed by gold. Finally, we discuss our empirical findings against the backdrop of the state of research on the sociology of money.

Kraemer, K., Jakelja, L., Brugger, F. und Nessel, S. (2020): Money Knowledge or Money Myths? Results of a population survey on money and the monetary order, in: European Journal of Sociology, Vol. 61, No. 2, pp. 219-267, doi: http://dx.doi.org/10.1017/S0003975620000119.

Kontakt: Klaus KraemerInstitut für Soziologie, Tel.: 0316/380 - 3546

 
Forecasting benchmarks of long-term stock returns via machine learning

Recent advances in pension product development seem to favour alternatives to the risk free asset often used in the financial theory as a performance standard for measuring the value generated by an investment or a reference point for determining the value of a financial instrument. To this end, in this paper, we apply the simplest machine learning technique, namely, a fully nonparametric smoother with the covariates and the smoothing parameter chosen by cross-validation to forecast stock returns in excess of different benchmarks, including the short-term interest rate, long-term interest rate, earnings-by-price ratio, and the inflation. We find that, net-of-inflation, the combined earnings-by-price and long-short rate spread form our best-performing two-dimensional set of predictors for future annual stock returns. This is a crucial conclusion for actuarial applications that aim to provide real-income forecasts for pensioners.

Kyriakou, I., Mousavi, P., Nielsen, J. P. und Scholz, M. (2021): Forecasting benchmarks of long-term stock returns via machine learning, in: Annals of Operations Research, Vol. 297, pp. 221-240, doi: https://doi.org/10.1007/s10479-019-03338-4.

Kontakt: Michael Scholz, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7112

 
Why socially concerned firms use low-powered managerial incentives: A complementary explanation

We study a duopoly market where a profit-maximizing firm and a socially concerned firm compete by offering differentiated products to consumers. Both firms delegate the quantity (price) decisions to a manager. The socially concerned firm employs an intrinsically motivated manager whose interest is partially aligned with the firm's objective. The profit-maximizing firm's manager is simply interested in maximizing compensation. We find that depending on the substitutability of the firms' products and the level of the firm's social concern, the socially concerned firm might prefer – solely for strategic reasons – a flat wage for compensating its motivated manager rather than a variable bonus. Our paper points to strategic motives as a complementary explanation for the observation that hybrid organizations with objectives other than profits frequently rely on different forms of compensation than their for-profit rivals.

Kopel, M. und Putz, E. M. (2021): Why socially concerned firms use low-powered managerial incentives: A complementary explanation, in: Economic Modelling, Vol. 94, pp. 473-482, doi: doi.org/10.1016/j.econmod.2020.11.002.

Kontakt: Michael Kopel, Institut für Organisation und Institutionenökonomik, Tel.: 0316/380 - 7182

 
Berufsdarstellung in populären Jugendserien. Eine videoanalytische Annäherung an ein volatiles Forschungsfeld

Hinsichtlich des Medienkonsums von Jugendlichen gewinnen Streamingplattformen zunehmend an Bedeutung. Bei der Analyse von Berufswahlprozessen von Jugendlichen stellt dieser Medienkonsum ein bedeutsames Forschungsfeld dar, werden die Zuseher/innen auf diese Weise doch in ihrem vorberuflichen Sozialisationsprozess mit teils stereotypen Berufsdarstellungen konfrontiert. Angesichts eines wachsenden Angebotes an Medieninhalten auf Streamingplattformen widmet sich der Beitrag der Fragestellung: ‚Wie werden Berufe in unter Jugendlichen populären Serien dargestellt?‘ Die Studie basiert auf einem zweistufigen Vorgehen: (1) Im Rahmen einer Vorstudie wurden 464 Schüler/innen zu Mediennutzung und konsumierten Serien befragt und vier Serien für eine tiefergehende Analyse ausgewählt. (2) Im Zuge einer Videostudie wurden insgesamt 16 Folgen der ausgewählten vier Serien analysiert. Die Ergebnisse zeigen eine große Bandbreite an unterschiedlichen Berufen, jedoch vornehmlich aus dem Dienstleistungssektor. Ein Abgleich mit realen Tätigkeitsprofilen basierend auf berufe.net bzw. bic.at zeigt zudem eine überaus einseitige Berufsdarstellung.

Berding, F., Dreisiebner, G., Jahncke, H., Slepcevic-Zach, P. und Porath, J. (2020): Berufsdarstellungen in populären Jugendserien. Eine videoanalytische Annäherung an ein volatiles Forschungsfeld, in: bwp@ Berufs- und Wirtschaftspädagogik – online, Vol. 38. S. 1-25. Online: www.bwpat.de/ausgabe38/berding_etal_bwpat38.pdf.

Kontakt: Gernot Dreisiebner, Institut für Wirtschaftspädagogik, Tel.: 0316/380 - 3534

 
History of Sociology

This article deals with the developments, trends, and essence of research in studies on the history of sociology in the German-speaking world since 2000. It discusses studies on the methodology of the history of sociology, publications on the institutionalization of sociology, on early and modern classics, on national and transnational historiography, and on sociology in face of National Socialism. Although the history of sociology is only rudimentarily institutionalized, especially in Germany, and there are almost no chairs or specialist journals for the history of sociology, we can nevertheless discern a spirit of optimism among younger researchers in this field. At the same time, we still lack a productive exchange with other historiographic sciences.

Moebius, S. (2021): History of Sociology, in: Hollstein, B., Greshoff, R., Schimank, U. und Weiß, A. (Hrsg.): Soziologie - Sociology in the German-Speaking World, De Gruyter Oldenbourg, Berlin, S. 181-196, doi: doi.org/10.1515/9783110627275-013.

Kontakt: Stephan MoebiusInstitut für Soziologie, Tel.: 0316/380 - 7081

 
The evolution of taking roles

Individuals are randomly matched to play an ex-ante symmetric hawk-dove game. Individuals assume one of a finite set of observable labels and condition their action choice on their opponent’s label. We study the evolutionary stability of chosen labels and their social interaction structure. Evolutionarily stable social structures differ for games in which a dove player prefers the opponent to play hawk (anti-coordination games), and those in which everyone prefers their opponent to play dove (conflict games). Non-trivial hierarchical social structures can only emerge in anti-coordination games. Egalitarian social structures can emerge in both, but are more fragile in conflict games.

Herold, F. und Kuzmics, C. (2020): The evolution of taking roles, in: Journal of Economic Behavior & Organization, Vol. 174, pp. 38-63, doi: doi.org/10.1016/j.jebo.2020.03.014.

Kontakt: Christoph Kuzmics, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7111

 
Determinants of soft budget constraints: How public debt affects hospital performance in Austria

Soft budget constraints (SBCs) undermine reforms to increase hospital service efficiency when hospital management can count on being bailed out by (subnational) governments in case of deficits. Using cost accounting data on publicly financed, non-profit hospitals in Austria from 2002 to 2015, we analyse the association between SBCs and hospital efficiency change in a setting with negligible risk of hospital closure in a two-stage study design based on bias-corrected non-radial input-oriented data envelopment analysis and ordinary least squares regression. We find that the European debt crisis altered the pattern of hospital efficiency development: after the economic crisis, hospitals in low-debt states had a 1.1 percentage point lower annual efficiency change compared to hospitals in high-debt states. No such systematic difference is found before the economic crisis. The results suggest that sudden exogenous shocks to public finances can increase the budgetary pressure on publicly financed institutions, thereby counteracting a pre-existing SBC.

Berger, M., Sommersguter-Reichmann, M. und Czypionka, T. (2020): Determinants of soft budget constraints: How public debt affects hospital performance in Austria, in: Social Science & Medicine, Vo. 249, pp. 1-11, doi: https://doi.org/10.1016/j.socscimed.2020.112855.

Kontakt: Margit Sommersguter-Reichmann, Institut für Finanzwirtschaft, Tel.: 0316/380 - 3516

 
Do Austrian Programmes Facilitate Labour Market Integration of Refugees?

This study examines two programmes aimed at integrating refugees into the Austrian labour market: a short‐term Skills Assessment and a longer‐term Integration Year that includes an internship and training. The theoretical framework draws on the concepts of social field and forms of capital proposed by Pierre Bourdieu. Using data from a large‐scale refugee survey in early 2019, we find that Austria’s short‐term Skills Assessment fails to increase refugees’ employment chances. The Integration Year positively helps employment, but this outcome is limited to refugee women. We conclude that integration programmes only help if they provide refugees with both cultural and social capital. Implications for research and practice are discussed.

Ortlieb, R., Eggenhofer-Rehart, P., Leitner, S., Hosner, R. und Landesmann, M. (2020): Do Austrian Programmes Facilitate Labour Market Integration of Refugees?, in: International Migration, pp. 1-21, doi: doi.org/10.1111/imig.12784 [21.10.2020].

Kontakt: Renate Orlieb, Institut für Personalpolitik, Tel.: 0316/380 - 7189

 
The role of heads of departments in the commercialization of university research

The commercialization of knowledge has become increasingly important for universities worldwide. Today, the acquisition of third-party funds, the filing of patents and the foundation of spin-offs are seen as similarly relevant to other academic activities such as conducting research and teaching. Research has examined how universities can be supported in their transformation into entrepreneurial institutions. Interestingly, the role of academic leaders in this process remains unclear. In this study, we examine how far the business and scientific experience of the head of department impacts the entrepreneurial activities of an entire department team. Our results demonstrate that heads with business experiences positively influence the acquisition of third-party funds and the patent output of the whole department. However, we found that the foundation of spin-offs is negatively affected by these experiences. Our results have clear policy implications and suggest that business experiences should be considered in the assignment of new heads when reorienting universities into entrepreneurial institutions. Yet, the business experience of academic leaders is not a panacea and has its limitations.

Leitner, K.‑H., Bergner, S. und Rybnicek, R. (2020): The role of heads of departments in the commercialization of university research, in: Journal of Business Economics, pp. 1-26, doi: doi.org/10.1007/s11573-020-01003-y [27.7.2020].

Kontakt: Robert RybnicekInstitut für Unternehmensführung und Entrepreneurship, Tel.: 0316/380 - 7355

 
Gute Karten gegen den Fiskus? Einflussgrößen der Erfolgswahrscheinlichkeit in höchstgerichtlichen Verfahren zur steuerlichen Gewinnermittlung

Der vorliegende Beitrag untersucht, welche Faktoren die Erfolgswahrscheinlichkeit von steuerlichen Verfahren vor dem Höchstgericht beeinflussen. Basierend auf einer Stichprobe von Urteilen des österreichischen Höchstgerichts zur steuerlichen Gewinnermittlung von Unternehmen aus den Jahren 2003–2018 wird gezeigt, dass mit Ausnahme des Ortes der vorinstanzlichen Entscheidung allgemeine, vom konkreten Sachverhalt weitgehend unabhängige Faktoren keinen signifikanten Einfluss auf die Erfolgswahrscheinlichkeit vor dem Höchstgericht aufweisen. Die Ergebnisse der Untersuchung liefern einen Beitrag zur verbesserten Einschätzung der Erfolgswahrscheinlichkeit vor dem Höchstgericht und damit Einsichten darüber, unter welchen Bedingungen eine Revision für Unternehmen erstrebenswert ist. Sie zeigen, dass über den konkreten Sachverhalt hinausgehende Faktoren bei der Entscheidung, eine Revision vor dem Höchstgericht einzubringen, in der Regel nicht berücksichtigt werden müssen.

Krenn, P., Rechbauer, M. und Rünger, S. (2020): Gute Karten gegen den Fiskus? Einflussgrößen der Erfolgswahrscheinlichkeit in höchstgerichtlichen Verfahren zur steuerlichen Gewinnermittlung, in: Betriebswirtschaftliche Forschung und Praxis, Heft 5, S. 473-500.

Kontakt: Martina RechbauerInstitut für Unternehmensrechnung und Steuerlehre, Tel.: 0316/380 - 6440

 
Longing for a national container. On the symbolic economy of Europe's new nationalism

This paper discusses how to explain the rise of a new nationalism in Europe. It begins by problematizing the inconsistencies in the current culturalist, socio-economic, and socio-political approaches. It then makes Pierre Bourdieu’s theory of social space fruitful for a sociological explanation of neonationalism by removing it from the conceptional framework of national container societies. It finally shows that the transnational opening of national societies is accompanied by profound processes of symbolic appreciation and depreciation of economic, cultural, and social ‘capital’ that the inhabitants of the national container possess.

Kraemer, K. (2020): Longing for a national container. On the symbolic economy of Europe’s new nationalism, in: European Societies, Vol. 22, No. 5, pp. 529-554, doi: https://doi.org/10.1080/14616696.2019.1694164.

Kontakt: Klaus KraemerInstitut für Soziologie, Tel.: 0316/380 - 3546

 
Export starters and exiters: Do innovation and finance matter?

Using European Central Bank restricted-access biannual data on European small- and medium-sized enterprises (SMEs) over the period 2014–2017, we analyze the impact that innovation, financial constraints, and an efficient regulatory environment exert on the probability of switching from the status of nonexporter to exporter and vice versa. We find that either the use of finance for innovation or undertaking product innovation increases the likelihood of starting to export and lowers the likelihood of stopping exporting. Although SMEs’ financial frictions are negligible for foreign market entry, they matter for increasing the probability of exiting. We also document that a friendly regulatory environment is conducive to start – but not to stop – exporting. Our findings provide empirical support for the recent European Commission policies on both SMEs’ internationalization and access to finance.

Rossi, S. P. S., Bonanno, G., Giansoldati, M. und Gregori, T. (2020): Export starters and exiters: Do innovation and finance matter?, in: Structural Change and Economic Dynamics, pp. 1-39, doi: doi.org/10.1016/j.strueco.2020.11.004 [1.12.2020].

Kontakt: Stefania Patrizia Sonia Rossi, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7117

 
CITES and the Zoonotic Disease Content in International Wildlife Trade

International trade in wildlife is one contributing factor to zoonotic disease risk. Using descriptive statistics, this paper shows that in the last decades, the volume and pattern of internationally traded wildlife has changed considerably and, with it, the zoonotic pathogens that are traded. In an econometric analysis, we give evidence that an international environmental trade agreement could be used to limit the spread of zoonotic pathogens and disease. More specifically, combining zoonotic disease data with wildlife trade data from the Convention on International Trade in Endangered Species of Wildlife and Fauna (CITES), we show that making trade requirements more stringent leads to a decrease in the number of animals traded and, incidentally, also the number of zoonotic diseases that are traded. Our results contribute to the discussion of policy measures that manage the spread of zoonotic diseases.

Borsky, S., Hennighausen, H., Leiter, A. und Williges, K. (2020): CITES and the Zoonotic Disease Content in International Wildlife Trade, in: Environmental and Resource Economics, Vol. 76, pp. 1001-1017, doi: doi.org/10.1007/s10640-020-00456-7.

Kontakt: Stefan Borsky, Institut für Volkswirtschaftslehre, Tel.: 0316/380 - 7514

 

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