Experimental Economics

Character of Experimental Economics: Method

  • for verification of economic theories and
  • for testing the effectiveness of institutional designs

under controlled laboratory conditions and derivation of recommendations for practice.

Fields of Application:

  • Independent, individual decisions: Consumer behavior, risk tendencies, ...
  • Strategic Interaction in small groups: Systems of Incentives, negotiations, ...
  • Markets: Market processes, design of markets, auctions

Recent Projects at the Institute of Management and Economics:

  • Endogeneous choice of institutions in hold-up and transactioncost experiments;
  • Fairness in Organisations: Test of propositions of the agency theory
  • Effectiveness of  immaterial incentives
  • Market exit behavior in decreasing markets
  • Use of non-renewable ressources
  • Design of systems of incentives under combined restrictions

Concerned Departments:

Operations Management

Subject of the Operations Management are quantitative methods for the support of decision making in businesses. Integrated design, management and control of production and logistic processes are the main fields of research.
For the solution of quantifiable decision making problems, the investigated processes (e.g. a mathematic program, simulations or batch model) are mapped. The result of the modelling is a formal description of the action alternatives and the framework for the subsequent scheduling.

In dependence of the respective time window to the execution of the planning and of the grade of definiteness of planning data, processes of pure predictive, robust, reviding or stochastic offline plannning or processes of the online planning can be used.

Methods of combinatorial optimization and mathematical programming are commonly the basis for these processes .

Recent Projects:

Concerned Departments:

Knowledge and Value Based Management

Contents of the main fields of research:

  • Customer Value Mangement and Value to the Customer,
  • Management of Market Values,
  • Customer Knowledge Management und Competitor Intelligence,
  • Capitalmarketoriented Accounting and Business Analysis,
  • Value-based Group Management,
  • Convergence of internal and external Accounting,
  • Knowledge Management,
  • Strategic Management,
  • International Management

Concerned Departments:

 

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