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Retail banking has undergone a massive transformation in the last few years. A major aspect is changing consumer behavior. The aim of the paper is to better understand retail banking consumers regarding the impact of digitalization. Consequently, we acquired online consumer review data from Germany, the UK and US. We analyzed the data using coding techniques of grounded theory, supported by interdisciplinary literature to identify and categorize the relevant influence factors. The outcome of the paper is an integrated model of consumer decision-making in today’s retail banking along with four detailed partial models of the respective decision stages.
Fairness versus efficiency
(2018)
We investigate in a laboratory experiment whether procedural fairness concerns affect how well individuals are able to solve a coordination problem in a two-player Volunteer’s Dilemma. Subjects receive external action recommendations, either to volunteer or to abstain from it, in order to facilitate coordination and improve efficiency. We manipulate the fairness of the recommendation procedure by varying the probabilities of receiving the disadvantageous recommendation to volunteer between players. We find evidence that while recommendations improve overall efficiency regardless of their implications for expected payoffs, there are behavioural asymmetries depending on the recommendation: advantageous recommendations are followed less frequently than disadvantageous ones and beliefs about others’ actions are more pessimistic in the treatment with recommendations inducing unequal expected payoffs.
Relatively little is known about the relationship between Carl Menger, founder of the Austrian school of economics, and his son, Karl Menger, the mathematician, geometer, logician, and philosopher of science, whose mathematical colloquium at the University of Vienna was essential for the development of mathematical economics. Based on Karl Menger’s diaries and correspondence, the present paper considers the development and struggles of the young Karl Menger, focusing on the years 1919–23, when Vienna was a vanquished city. We discuss the various relations within the Menger family and their significance for Karl Menger’s intellectual development. Additionally, we consider his acquaintances with economists such as Knut Wicksell, David Davidson, and Eli Heckscher as well as the younger Menger’s work in economics. We shed new light on his editorship of the second edition of his father’s Grundsätze der Volkswirtschaftslehre.
This paper reconsiders the explanation of economic policy from an evolutionary economics perspective. It contrasts the neoclassical equilibrium notions of market and government failure with the dominant evolutionary neo-Schumpeterian and Austrian-Hayekian perceptions. Based on this comparison, the paper criticizes the fact that neoclassical reasoning still prevails in non-equilibrium evolutionary economics when economic policy issues are examined. This is more than surprising, since proponents of evolutionary economics usually view their approach as incompatible with its neoclassical counterpart. In addition, it is shown that this "fallacy of failure thinking" even finds its continuation in the alternative concept of "system failure" with which some evolutionary economists try to explain and legitimate policy interventions in local, regional or national innovation systems. The paper argues that in order to prevent the otherwise fruitful and more realistic evolutionary approach from undermining its own criticism of neoclassical economics and to create a consistent as well as objective evolutionary policy framework, it is necessary to eliminate the equilibrium spirit. Finally, the paper delivers an alternative evolutionary explanation of economic policy which is able to overcome the theory-immanent contradiction of the hitherto evolutionary view on this subject.
Der Wandel zur automatisierten Produktion, die fortschreitende Digitalisierung der Wertschöpfungsprozesse sowie die stetige Implementierung von mobilen Industrial Internet of Things-Technologien (IIoT) in diese zur Unterstützung der Mitarbeiter stellen betriebliche Weiterbildung vor Herausforderungen. Komple-xere Anforderungen und veränderte Tätigkeitsprofile erfordern Handlungskom-petenzen bei Mitarbeitern im Sinne der Fähigkeit, in unbekannten Situationen auf Basis eigenen Könnens handlungsfähig zu bleiben. Jene sowie dafür notwendiges umfassendes Verständnis gegenüber digitalisierten Produktions-prozessen kann jedoch durch konventionelle Lehrmethoden nicht realisiert werden, da diese der erhöhten Anforderungskomplexität und den komplexen Rückkopplungen im Rahmen der Steuer- und Regelkreise nicht gerecht werden können. Diese Aspekte aufgreifend wird im Folgenden ein szenariobasierter Wei-terbildungsansatz für eine Lernfabrik vorgestellt, der insbesondere die Potenziale mobiler IIoT-Technologien zur Ausgestaltung dieser in den Blick nimmt.
Email tracking allows email senders to collect fine-grained behavior and location data on email recipients, who are uniquely identifiable via their email address. Such tracking invades user privacy in that email tracking techniques gather data without user consent or awareness. Striving to increase privacy in email communication, this paper develops a detection engine to be the core of a selective tracking blocking mechanism in the form of three contributions. First, a large collection of email newsletters is analyzed to show the wide usage of tracking over different countries, industries and time. Second, we propose a set of features geared towards the identification of tracking images under real-world conditions. Novel features are devised to be computationally feasible and efficient, generalizable and resilient towards changes in tracking infrastructure. Third, we test the predictive power of these features in a benchmarking experiment using a selection of state-of-the-art classifiers to clarify the effectiveness of model-based tracking identification. We evaluate the expected accuracy of the approach on out-of-sample data, over increasing periods of time, and when faced with unknown senders. (C) 2018 Elsevier B.V. All rights reserved.
Startklar! - Sekundarstufe I
(2018)
Students often enter higher education academically unprepared and with unrealistic perceptions and expectations regarding academic competencies for their studies. However, preparedness and realistic perceptions are important factors for student retention. With regard to a proposed model of five academic competencies(time management, learning skills, technology proficiency, self-monitoring, and research skills), incoming students’ perceptions concerning academic staff support and students’ selfreported confidence at a German university were examined. Using quantitative data, an initial exploratory study was conducted (N = 155), which revealed first-year students’ perceptions of the role of academic staff in supporting their development, especially in
research skills, as well as low self-reported confidence in this competence. Thus, a follow up study (N = 717) was conducted to confirm these findings as well as to provide an indepth understanding of research skills. Understanding students’ perceptions is crucial if higher education institutions are to meet students’ needs and provide adequate support services in the challenging first year. Thus, in order to increase student retention, it is
suggested that universities assist first-year students in developing academic competencies through personalised competence-based programs and with the help of emerging
research fields and educational technologies such as learning analytics and digital badges.
The current German start-up subsidy for unemployed individuals underwent a major reform in 2011 that altered key parameters of the program, leading to ambiguous ex ante predictions on the post-reform effectiveness of the program, making a new evaluation necessary. In our descriptive analysis, we find that participants after the reform differ significantly from pre-reform participants in terms of important characteristics and subsequent labor market performance. Our causal analysis reveals positive and sizable treatment effects on the treated regarding employment and income that are larger effects than what was estimated for the pre-reform program. Potential reasons for this are discussed.
We assess the short-term employment effects of the introduction of a national statutory minimum wage in Germany in 2015. For this purpose, we exploit variation in the regional treatment intensity, assuming that the stronger a minimum wage ‘bites’ into the regional wage distribution, the stronger the regional labour market will be affected. In contrast to previous studies, we construct two regional bite indicators based upon detailed individual wage data from the Structure of Earnings Survey (SES) 2014 and combine it with administrative information on regional employment. Moreover, using the Socio-Economic Panel (SOEP), we are able to affirm the absence of anticipation effects and verify the assumption of a common trend in wages before the reform. In sum, we find only moderate negative effects on overall employment of about 140,000 (0.4%) jobs, which are mainly driven by a sharp decline of marginal employment (‘mini-jobs’), while we do not find pronounced significant effects for regular employment in most specifications. Our results are robust to a variety of sensitivity tests.