Research and teaching focus on three main fields: decision theory/economics of organisations, experimental economics and environmental management.

Decision theory and economics of organisations

Decision theory and economics of organisations give insight into the structuring of agreements between employers and employees, investigate options for remunerating managers or take a look at the decision making process and suggest procedures to support those in complex decision making situations.

Experimental economics

Experimental economics offers the opportunity to reproduce theoretical models in the laboratory, to observe actual human behaviour and to test the validity of the theory. For this purpose, an experimental laboratory was set up at the institute in cooperation with the Department of Economics in 2002. It is amazing how often the strategies used by the participants in experiments reflect a complex balance and back up the results of theoretical models. However, there is also frequently behaviour which consistently deviates from theoretical predictions. The integration of such deviations into existing models leads to a better understanding of economic processes e.g. developments on the stock market or the motivation of decision makers.

Environmental management

The analysis of corporate activities in the field of environmental protection is part of environmental management. In addition to the evaluation of the impact of government incentive measures such as emission trading, taxes, regulations or subsidies, there is a focus on carrying out studies on ecobalance for the ecological evaluation of new products, processes or concepts in accordance with DIN EN ISO 14040. Close cooperation with other institutes at Clausthal University of Technology thus opens up a wide range of possible applications, especially in the field of engineering.

 

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