Area Banking, Finance, and Insurance
The Area Banking, Finance, and Insurance is part of the Business School at the University of Mannheim. It has first-class facilities, internationally renowned faculty and conducts research in all areas of modern finance. More information are provided on the homepage of the Area Banking, Finance, and Insurance.
Publications and Research Interests
Credit Risk and Banking
In this research area, measurement and management of credit risks are analyzed.
Behavioral finance and asset pricing
In this research area, knowledge about individual decision making is generated and/
or taken from psychological research and transferred to economic settings. On the one hand, we look at decisions in stock markets and their impact on aggregate variables like price and volume. On the other hand, we look at households' decisions and their consequences for individual investors. We conduct both theoretical and empirical research (experimental economics as well as market data). Decision theory and analysis
In this field of research, we aim to understand the basics of individual decision making, to identify systematic biases, to analyze their causes, and to model behavioral components of decision making. These insights are also applied to prescriptive decision theory and decision analysis.
Selected Publications
- Germann, M., Mertes, L., Weber, M. and Loos, B. (2024). Trust and delegated investing: a money doctors experiment. Review of Finance (forthcoming).
- Heimer, R., Iliewa, Z., Imas, A. and Weber, M. (2024). Dynamic inconsistency in risky choise: Evidence from the lab and field. American Economic Review : AER, 115, 30–363.
- Kieren, P. and Weber, M. (2024). Expectation formation under uninformative signals. Management Science (forthcoming).
- Merkle, C., Schreiber, P. and Weber, M. (2024). Inconsistent retirement timing. Journal of Human Resources : JHR, 59, 329–974.
- Ungeheuer, M. and Weber, M. (2024). So what we do learn from Li and Wang. Critical Finance Review (forthcoming).
- Kieren, P., Müller-Dethard, J. and Weber, M. (2023). Risk-taking and asymmetric learning in boom and bust markets. Review of Finance, 27, 1743-1779.
- Laudenbach, C., Ungeheuer, M. and Weber, M. (2023). How to alleviate correlation neglect in investment decisions. Management Science, 69, 3400-3414.
- Kieren, P. and Weber, M. (2022). When saving is not enough – wealth decumulation in retirement. Journal of Pension Economics and Finance : JPEF, 21, 446–473.
- Merkle, C., Müller-Dethard, J. and Weber, M. (2021). Closing a mental account: the realization effect for gains and losses. Experimental Economics, 24, 303–329.
- Ungeheuer, M. and Weber, M. (2021). The perception of dependence, investment decisions, and stock prices. The Journal of Finance, 76, 797–844.
- Becker, D. M., Klüter, H., Niessen-Ruenzi, A. and Weber, M. (2019). The impact of direct cash payments on whole blood supply. German Economic Review : GER, 20, 973-1001.
- Glaser, M., Iliewa, Z. and Weber, M. (2019). Thinking about prices versus thinking about returns in financial markets. The Journal of Finance, 74, 2997-3039.
- Marquardt, P., Noussair, C. N. and Weber, M. (2019). Rational expectations in an experimental asset market with shocks to market trends. European Economic Review : EER, 114, 116–140.
- Ehm, C., Laudenbach, C. and Weber, M. (2018). Focusing on volatility information instead of portfolio weights as an aid to investor decisions. Experimental Economics, 21, 457–480.
- Heuer, J., Merkle, C. and Weber, M. (2017). Fooled by randomness: Investor perception of fund manager skill. Review of Finance, 21, 605–635.
- Merkle, C., Schreiber, P. and Weber, M. (2017). Framing and retirement age : the gap between willingness-to-accept and willingness-to-pay. Economic Policy, 32, 757–809.
- Jacobs, H. and Weber, M. (2016). Losing sight of the trees for the forest? Attention allocation and anomalies. Quantitative Finance, 16, 1679-1693.
- Schreiber, P. and Weber, M. (2016). Time inconsistent preferences and the annuitization decision. Journal of Economic Behavior & Organization : JEBO, 129, 37–55.
- Jacobs, H. and Weber, M. (2015). On the determinants of pairs trading profitability. Journal of Financial Markets, 23, 75–97.
- Egan, D., Merkle, C. and Weber, M. (2014). Second-order beliefs and the individual investor. Journal of Economic Behavior & Organization : JEBO, 107, 652–666.
- Ehm, C., Kaufmann, C. and Weber, M. (2014). Volatility Inadaptability: Investors Care About Risk, but can´t Cope with Volatility. Review of Finance, 18, 1387-1423.
- Jacobs, H., Müller, S. and Weber, M. (2014). How Should Individual Investors Diversify? : An Empirical Evaluation of Alternative Asset Allocation Policies. Journal of Financial Markets, 19, 62–85.
- Merkle, C. and Weber, M. (2014). Do Investors Put Their Money Where Their Mouth Is? Stock Market Expectations and Investing Behavior. Journal of Banking & Finance, 46, 372–386.
- Müller, S. and Weber, M. (2014). Evaluating the Rating of Stiftung Warentest: How good are Mutual Fund Ratings and can they be Improved? European Financial Management, 20, 207–235.
- de Palma, A., Abdellaoui, M., Atlanasi, G., Ben-Akiva, M., Erev, I., Fehr-Duda, H., Fok, D., Fox, C. R., Hertwig, R., Picard, N., Wakker, P. P., Walker, J. L. and Weber, M. (2014). Beware of black swans : taking stock of the description-experience gap in decision under uncertainty. Marketing Letters, 25, 269–280.
- Glaser, M., Langer, T. and Weber, M. (2013). True overconfidence in interval estimates: Evidence based on a new measure of miscalibration. Journal of Behavioral Decision Making, 26, 405–417.
- Kaufmann, C. and Weber, M. (2013). Sometimes Less is More – the Influence of Information Aggregation on Investment Decisions. Journal of Economic Behavior & Organization : JEBO, 95, 20–33.
- Kaufmann, C., Weber, M. and Haisley, E. C. (2013). The Role of Experience Sampling and Graphical Displays on One`s Investment Risk Taking Appetite. Management Science, 59, 323–340.
- Weber, M., Weber, E. U. and Nosic, A. (2013). Who takes risks when and why: Determinants of changes in investor risk taking. Review of Finance, 17, 847–883.
- Jacobs, H. and Weber, M. (2012). The Trading Volume Impact of Local Bias: Evidence from a Natural Experiment. Review of Finance, 16, 867–901.
- Koch, C., Weber, M. and Wüstemann, J. (2012). Can Auditors Be Independent? Experimental Evidence on the Effects of Client Type. European Accounting Review, 21, 797–823.
- Langer, T., Zeisberger, S. and Weber, M. (2012). Why does Myopia Decrease the Willingness to Invest? Is it Myopic Loss Aversion or Myopic Loss Probability Aversion? Theory and Decision, 72, 35–50.
- Schmitz, P. and Weber, M. (2012). Buying and Selling Behavior of Individual Investors in Option-like Securities. Die Betriebswirtschaft : DBW, 72, 409–426.
- Baucells, M., Weber, M. and Welfens, F. (2011). Reference-Point Formation and Updating. Management Science, 57, 506–519.
- Merkle, C. and Weber, M. (2011). True overconfidence : the inability of rational information processing to account for apparent overconfidence. Organizational Behavior and Human Decision Processes, 116, 262–271.
- Müller, S., Weber, M. and Seubert, U. (2011). Die Risiken begrenzen. Die Bank : Zeitschrift für Bankpolitik und Praxis, 12–16.
- Sautner, Z. and Weber, M. (2011). Corporate governance and the design of stock option contracts. Die Betriebswirtschaft : DBW, 71, 331–354.
- Weber, M. and Welfens, F. (2011). The follow-on purchase and repurchase behavior of individual investors: An experimental investigation. Die Betriebswirtschaft : DBW, 71, 139–154.
- Foos, D., Norden, L. and Weber, M. (2010). Loan growth and riskiness of banks. Journal of Banking & Finance, 34, 2929-2940.
- Kleff, V. and Weber, M. (2010). Aspects of payout Pplicy of German savings banks. Kredit und Kapital, 43, 39–63.
- Müller, S. and Weber, M. (2010). Financial literacy and mutual fund investments: Who buys actively managed funds? Schmalenbach Business Review : Sbr, 62, 126–153.
- Norden, L. and Weber, M. (2010). Credit line usage, checking account activity, and default risk of bank borrowers. The Review of Financial Studies, 23, 3665-3699.
- Norden, L. and Weber, M. (2010). Funding modes of German banks: Structural changes and its implications. Journal of Financial Services Research, 38, 69–93.
- Nosic, A. and Weber, M. (2010). How riskily do I invest? The role of risk attitudes, risk perceptions, and overconfidence. Decision Analysis, 7, 282–301.
- Grimm, V., Schmidt, U. and Weber, M. (2009). Optimales Bietverhalten in Auktionen. Wirtschaftswissenschaftliches Studium : WiSt, 38, 413–418.
- Sautner, Z. and Weber, M. (2009). How do managers behave in stock option plans? Clinical evidence from exercise and survey data. The Journal of Financial Research, 32, 123–155.
- Weber, M. and Biais, B. (2009). Hindsight Bias, Risk Perception and Investment Performance. Management Science, 55, 1018-1029.
- Weber, M. and Glaser, M. (2009). Which Past Returns Affect Trading Volume? Journal of Financial Markets, 12, 1–31.
- Weber, M. and Grunert, J. (2009). Recovery rates of commercial lending: Empirical evidence for German companies. Journal of Banking & Finance, 33, 505–513.
- Weber, M. and Jacobs, H. (2009). Diversifiziert, passiv, effizient. Strategische Asset Allocation für eine Genossenschaftsbank. Bankinformation : BI, 36, 32–35.
- Weber, M. and Norden, L. (2009). The co-movement of credit default swap, bond and stock markets: An empirical analysis. European Financial Management, 15, 529–562.
- Norden, L. and Weber, M. (2008). Credit derivatives and loan pricing. Journal of Banking & Finance, 32, 2560-2569.
- Schäfer, C., Weber, M. and Wolf, P. (2008). Berechnung und Pauschalierung des Kursdifferenzschadens bei fehlerhafter Kapitalmarktinformation. ZIP : Zeitschrift für Wirtschaftsrecht, 29, 197–204.
- Weber, M. and Kleff, V. (2008). How Do Banks Determine Capital? – Empirical Evidence for Germany. German Economic Review : GER, 9, 354–372.
- Weber, M. and Langer, T. (2008). Does Commitment or Feedback Influence Myopic Loss Aversion? An Experimental Analysis. Journal of Economic Behavior & Organization : JEBO, 67, 810–819.
- Weber, M. and Müller, S. (2008). Wie viel Liquidität ist betriebsnotwendig? Der Ansatz liquider Mittel bei der Ermittlung des kalkulatorischen Eigenkapitals unter Berücksichtigung von “Cash Pooling”-Systemen. Netzwirtschaften & Recht : N & R, 5, 61–65.
- Weber, M. and Nosic, A. (2008). Die Anleger richtig einschätzen. Die Bank : Zeitschrift für Bankpolitik und Praxis, 32–36.
- Glaser, M., Langer, T., Reynders, J. and Weber, M. (2007). Framing Effects in Stock Market Forecasts : The Difference between Asking for Prices and Asking for Returns. Review of Finance, 11, 325–357.
- Glaser, M., Langer, T. and Weber, M. (2007). On the Trend Recognition and Forecasting Ability of Professional Traders. Decision Analysis, 4, 176–193.
- Kotz, H.-H. and Weber, M. (2007). Increasing financial literacy: A public policy challenge. Kredit und Kapital, 40, 175–187.
- Weber, M. and Glaser, M. (2007). Overconfidence and trading volume. The Geneva Risk and Insurance Review, 32, 1–36.
- Weber, M. and Glaser, M. (2007). Why inexperienced investors do not learn : They do not know their past portfolio performance. Finance Research Letters, 4, 203–216.
- Weber, M. and Grunert, J. (2007). Die Bedeutung potentieller Einflussfaktoren auf die Höhe der Recovery Rate von Bankkrediten an kleine und mittlere Unternehmen: Eine Umfrage in der Bankpraxis. Zeitschrift für Betriebswirtschaft : ZfB, 77, 711–734.
- Weber, M. and Puszkajler, K. P. (2007). Wann haftet ein Bankberater für seine Empfehlungen an einen Depotkunden? Anmerkungen zu BGH, Urteil vom 21.03.2006. ZIP : Zeitschrift für Wirtschaftsrecht, 28, 401–404.
- Kraemer, C., Nöth, M. and Weber, M. (2006). Information Aggregation with Costly Information and Random Ordering : Experimental Evidence. Journal of Economic Behavior & Organization : JEBO, 59, 423–432.
- Norden, L., Weber, M. and Kortüm, B. (2006). Rechtzeitig analysieren : Die Messung von Konzentrationsrisiken im Kreditgeschäft ist wichtig. BI : Bankinformation und Genossenschaftsforum ; das Magazin der Volksbanken Raiffeisenbanken, 33, 42–46.
- Weber, M., Elsland, S. and Puszkajler, K. P. (2006). Der Wert von börsennotierten, potenziell abfindungsberechtigten Aktien : ökonomische Überlegungen zu OLG Jena ZIP 2005, 525 – DEWB/
Jenoptik. ZIP : Zeitschrift für Wirtschaftsrecht, 27, 692–699. - Weber, M. and Klos, A. (2006). Portfolio choice in the presence of non-tradeable income: An experimental analysis. German Economic Review : GER, 7, 427–448.
- Abdellaoui, M., Voßmann, F. and Weber, M. (2005). Choice-based elicitation and decomposition of decision weights for gains and losses under uncertainty. Management Science, 51, 1384-1399.
- Glaser, M. and Weber, M. (2005). September 11 and Stock Return Expectations of Individual Investors. Review of Finance, 9, 243–279.
- Grunert, J., Norden, L. and Weber, M. (2005). The role of non-financial factors in internal credit ratings. Journal of Banking & Finance, 29, 509–531.
- Kirchler, E., Maciejovsky, B. and Weber, M. (2005). Framing Effects, Selective Information, and Market Behavior: An Experimental Analysis. The Journal of Behavioral Finance, 6, 90–100.
- Klos, A., Weber, E. U. and Weber, M. (2005). Investment Decisions and Time Horizon : Risk Perception and Risk Behavior in Repeated Gambles. Management Science, 51, 1777-1790.
- Langer, T., Sarin, R. and Weber, M. (2005). The Retrospective Evaluation of Payment Sequences: Duration Neglect and Peak-and-End-Effects. Journal of Economic Behavior & Organization : JEBO, 58, 157–175.
- Langer, T. and Weber, M. (2005). Myopic Prospect Theory vs Myopic Loss Aversion: How General is the Phenomenon? Journal of Economic Behavior & Organization : JEBO, 56, 25–38.
- Norden, L. and Weber, M. (2005). Möglichkeiten und Grenzen der Bewertung von Ratingsystemen durch Markt und Staat. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 52, 31–54.
- Sautner, Z. and Weber, M. (2005). Ausübungsverhalten von Mitarbeitern in Aktienoptionsprogrammen : Relevanz personen- und firmenspezifischer Determinanten. Betriebs-Berater : BB, 60, 2735-2737.
- Siebenmorgen, N. and Weber, M. (2005). Communicating Asset Risk. Risk Analysis, 25, 597–609.
- Weber, M. and Grunert, J. (2005). Einflussfaktoren ermittelt – Recovery Rates von Unternehmenskrediten: Umfrage in der Bankpraxis. BI : Bankinformation und Genossenschaftsforum ; das Magazin der Volksbanken Raiffeisenbanken, 32, 37–40.
- Weber, M., Güth, W. and van Damme, E. (2005). Risk Aversion on Probabilities : Experimental Evidence of Deciding Between Lotteries. Homo Oeconomicus, 191–209.
- Weber, M. and Zuchel, H. (2005). How Do Prior Outcomes Affect Risk Attitude? Comparing Escalation of Commitment and the House Money Effect. Decision Analysis, 2, 30–43.
- Grunert, J. and Weber, M. (2004). Ansätze zur Messung der Äquivalenz von Ratingsystemen. Zeitschrift für Bankrecht und Bankwirtschaft : ZBB = Journal of Banking Law and Banking, 28–37.
- Kraemer, C. and Weber, M. (2004). How Do People Take into Account Weight, Strength and Quality of Segregated vs. Aggregated Data? : Experimental Evidence. Journal of Risk and Uncertainty, 29, 113–142.
- Norden, L. and Weber, M. (2004). Informational efficiency of credit default swap and stock markets : The impact of credit rating announcements. Journal of Banking & Finance, 28, 2813-2843.
- Siebenmorgen, N. and Weber, M. (2004). The Influence of Different Investment Horizons on Risk Behavior. The Journal of Behavioral Finance, 5, 75–90.
- Weber, M. (2004). Börsenkursbestimmung aus ökonomischer Perspektive. Zeitschrift für Unternehmens- und Gesellschaftsrecht : ZGR, 33, 280–300.
- Glaser, M. and Weber, M. (2003). Momentum and Turnover : Evidence from the German Stock Market. Schmalenbach Business Review : Sbr, 55, 108–135.
- Klos, A., Langer, T. and Weber, M. (2003). Über kurz oder lang : Welche Rolle spielt der Anlagehorizont bei Investments? Zeitschrift für Betriebswirtschaft : ZfB, 73, 733–765.
- Nöth, M. and Weber, M. (2003). Information Aggregation with Random Ordering : Cascades and Overconfidence. The Economic Journal, 113, 166–186.
- Weber, M. and Siebenmorgen, N. (2003). A Behavioral Model for Asset Allocation. Financial Markets and Portfolio Management, 17, 15–42.
- Fox, C. R. and Weber, M. (2002). Ambiguity Aversion, Comparative Ignorance, and Decision Context. Organizational Behavior and Human Decision Processes, 88, 476–498.
- Grunert, J., Kleff, V., Norden, L. and Weber, M. (2002). Mittelstand und Basel II : Der Einfluss der neuen Eigentkapitalvereinbarung für Banken auf die Kalkulation von Kreditzinsen. Zeitschrift für Betriebswirtschaft : ZfB, 72, 1045-1064.
- Kilka, M. and Weber, M. (2001). What determines the Shape of the Probability Weighting Function under Uncertainty. Management Science, 47, 1712-1726.
- Krahnen, J. P. and Weber, M. (2001). Generally Accepted Rating Principles: A Primer. Journal of Banking and Finance, 25, 3–23.
- Krahnen, J. P. and Weber, M. (2001). Market Making in the Laboratory: Does Competition Matter? Experimental Economics, 4, 55–85.
- Langer, T. and Weber, M. (2001). Prospect Theory, Mental Accounting and Differences in Aggregated and Segregated Evaluation of Lottery Portfolios. Management Science, 47, 716–733.
- August, R., Schiereck, D. and Weber, M. (2000). Momentumstrategien am deutschen Aktienmarkt: Neue empirische Evidenz zur Erklärung des Erfolgs. Kredit und Kapital, 33, 198–234.
- Kilka, M. and Weber, M. (2000). Home-Bias in International Stock Return Expectations. Journal of Psychology and Financial Markets, 1, 176–192.
- Klos, A., Langer, T., Schiereck, D., Voßmann, F. and Weber, M. (2000). Behavioral Finance: Idee und Überblick. Finanz-Betrieb : FB, 2, 311–318.
- Weber, M., Keppe, H.-J. and Meyer-Delius, G. (2000). The impact of endowment framing on market prices – an experimental analysis. Journal of Economic Behavior & Organization : JEBO, 41, 159–176.
- Baz, J., Briys, E., Bronnenberg, B. J., Cohen, M., Kast, R., Wathieu, L., Wertenbroch, K. and Weber, M. (1999). Risk Perception in the Short Run and in the Long Run. Marketing Letters, 167–283.
- Beck, N., Haberstroh, S., Schwarz, S., Weber, M. and Winter, J. (1999). Wie rational sind Entscheidungen? : Der SFB 504 : Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung. Forum : das Magazin der Universität Mannheim, 41–46.
- Elsas, R., Ewert, R., Krahnen, J. P., Rudolph, B. and Weber, M. (1999). Risikoorientiertes Kreditmanagement deutscher Banken. Die Bank : Zeitschrift für Bankpolitik und Praxis, 190–199.
- Krahnen, J. P. and Weber, M. (1999). Does Information Aggregation depend on Market Structure? Zeitschrift für Wirtschafts- und Sozialwissenschaften : ZWS, 119, 1–22.
- Schiereck, D., de Bondt, W. and Weber, M. (1999). Contrarian and Momentum Strategies in Germany. Financial Analysts' Journal : FAJ, 55, 104–116.
- Weber, M., Krahnen, J. P. and Voßmann, F. (1999). Risikomessung im Kreditgeschäft : Eine empirische Analyse bankinterner Ratingverfahren. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 117–142.
- Machauer, A. and Weber, M. (1998). Bank behavior based on internal credit ratings of borrowers. Journal of Banking & Finance, 22, 1355-1383.
- Weber, M. (1998). Rezension zu: Mayer, Colin: Financial Systems and Corporate Governance, Tübingen, 1998. Journal of Institutional and Theoretical Economics : JITE, 154, 166–169.
- Weber, M. and Camerer, C. F. (1998). The Disposition Effect in Securities Trading: An Experimental Analysis. Journal of Economic Behavior & Organization : JEBO, 33, 167–184.
- Ahlbrecht, M. and Weber, M. (1997). An Empirical Study on Intertemporal Decision Making under Risk. Management Science, 43, 813–826.
- Ahlbrecht, M. and Weber, M. (1997). Preference for Gradual Resolution of Uncertainty. Theory and Decision, 43, 167–185.
- Brachinger, H. W. and Weber, M. (1997). Risk as a Primitive: A Survey of Measures of Perceived Risk. Operations-Research-Spektrum, 19, 235–260.
- Bromann, O., Schiereck, D. and Weber, M. (1997). Reichtum durch (anti-)zyklische Handelsstrategien am deutschen Aktienmarkt? Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 49, 603–616.
- Löffler, G. and Weber, M. (1997). Welche Faktoren beeinflussen erwartete Aktienrenditen? Zeitschrift für Wirtschafts- und Sozialwissenschaften : ZWS, 117, 209–246.
- Weber, M. (1997). Remarks on the Paper “On the Measurement of Preferences in the Analytical Hierarchy Process” by A. A. Salo and R. P. Hämäläinen. Journal of Multi-Criteria Decision Analysis, 6, 320–321.
- Ahlbrecht, M. and Weber, M. (1996). The Resolution of Uncertainty: An Experimental Study. Journal of Institutional and Theoretical Economics : JITE, 152, 593–607.
- Nöth, M. and Weber, M. (1996). Insidererkennung in experimentellen Märkten. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 48, 959–982.
- Schiereck, D. and Weber, M. (1996). IBIS oder Londo : Wohin beim Handel deutscher Aktien? Die Bank : Zeitschrift für Bankpolitik und Praxis, 654–658.
- Ahlbrecht, M. and Weber, M. (1995). Hyperbolic discounting models in prescriptive theory of intertemporal choice. Zeitschrift für Wirtschafts- und Sozialwissenschaften : ZWS, 115, 535–568.
- Eisenberger, R. and Weber, M. (1995). Willingness-to-pay and willingness-to-accept for risky and ambiguous lotteries. Journal of Risk and Uncertainty, 10, 223–233.
- Keppe, H.-J. and Weber, M. (1995). Judged knowledge and ambiguity aversion. Theory and Decision, 39, 51–77.
- Salo, A. and Weber, M. (1995). Ambiguity aversion in first-price sealed-bid auctions. Journal of Risk and Uncertainty, 11, 123–137.
- Kimbrough, S. O. and Weber, M. (1994). An empirical comparison of utility assessment programs. European Journal of Operational Research : EJOR, 75, 617–633.
- Mangelsdorff, L. and Weber, M. (1994). Testing choquet expected utility. Journal of Economic Behavior & Organization : JEBO, 25, 437–457.
- Burgemeister, J. and Weber, M. (1993). Risiko und Akzeptanz von Industrieansiedlungen – eine empirische Studie. Zeitschrift für Betriebswirtschaft : ZfB, 63, 147–169.
- Keppe, H.-J. and Weber, M. (1993). Risikoanalyse bei partieller Wahrscheinlichkeitsinformation. Die Betriebswirtschaft : DBW, 52, 49–56.
- Kruse, H., Berglöf, E. and Weber, M. (1993). Erklären unternehmensspezifische Faktoren den Kursunterschied von Stamm- und Vorzugsaktien? Zeitschrift für Bankrecht und Bankwirtschaft : ZBB = Journal of Banking Law and Banking, 5, 23–31.
- von Nitzsch, R. and Weber, M. (1993). The effect of attribute ranges on weights in multiattribute utility measurements. Management Science, 39, 937–943.
- Sarin, R. K. and Weber, M. (1993). Effects of ambiguity in market experiments. Management Science, 39, 602–615.
- Sarin, R. K. and Weber, M. (1993). Risk-value models. European Journal of Operational Research : EJOR, 70, 135–149.
- Weber, M. and Borcherding, K. (1993). Behavioral influences on weight judgments in multiattribute decision making. European Journal of Operational Research : EJOR, 67, 1–12.
- Camerer, C. F. and Weber, M. (1992). Recent developments in modeling preferences: Uncertainty and ambiguity. Journal of Risk and Uncertainty, 5, 325–370.
- Weber, M., Berglöf, E. and Kruse, H. (1992). Kurs- und Renditevergleich von Stamm- und Vorzugsaktien. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 44, 548–565.
- Weber, M. and Camerer, C. F. (1992). Ein Experiment zum Anlegerverhalten. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 44, 131–148.
- Weber, M. and von Nitzsch, R. (1991). Bandbreiteneffekte bei der Bestimmung von Zielgewichten. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 43, 971–986.
- Camerer, C. F., Loewenstein, G. and Weber, M. (1989). The curse of knowledge in economic settings: An experimental analysis. Journal of Political Economy, 97, 1232-1254.
- Keppe, H.-J. and Weber, M. (1989). Stochastic dominance with incomplete information on probabilities. European Journal of Operational Research : EJOR, 43, 350–355.
- Weber, M. (1989). Ambiguität in Finanz- und Kapitalmärkten. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 41, 447–471.
- von Nitzsch, R. and Weber, M. (1988). Utility Function Assessment on a Micro-Computer: A Reliable, Interactive Procedure. Annals of Operations Research, 16, 149–160.
- Weber, M., Eisenführ, F. and von Winterfeldt, D. (1988). The Effect of Splitting Attributes in Multiattribute Utility Measurement. Management Science, 34, 431–445.
- Weber, M. (1987). Decision Making with Incomplete Information. European Journal of Operational Research : EJOR, 28, 44–57.
- Weber, M. and Camerer, C. F. (1987). Recent Developments in Modelling Preferences under Risk. Operations-Research-Spektrum, 9, 129–151.
- Brauers, J. and Weber, M. (1986). Szenario analysis as a Tool for Strategic Management: A New Method. Zeitschrift für Betriebswirtschaft : ZfB, 56, 631–652.
- Eisenführ, F. and Weber, M. (1986). Zielstrukturierung: Ein kritischer Schritt im Entscheidungsprozeß. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 38, 907–929.
- Keller, L. R., Sarin, R. K. and Weber, M. (1986). Empirical Investigation of Some Properties of the Perceived Riskiness of Gambles. Organizational Behavior and Human Decision Processes, 38, 114–130.
- von Nitzsch, R. and Weber, M. (1986). Die verläßliche Bestimmung von Nutzenfunktionen. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 38, 844–862.
- Weber, M. (1986). Subjektive Evalution of Strategic Business Units. Die Betriebswirtschaft : DBW, 46, 160–173.
- Weber, M. (1985). A Method for Multiattribute Decision Making with Incomplete Information. Management Science, 31, 1365-1371.
- Weber, M. (1985). Entscheidungen bei Mehrfachzielen und unvollständiger Information – eine empirische Untersuchung über einen Methodenvergleich. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 37, 311–331.
- Heinemann, F., Asatryan, Z., Bachtrögler-Unger, J., Birkholz, C., Corti, F., von Ehrlich, M., Fratesi, U., Fuest, C., Lang, V. and Weber, M. (2024). Enhancing objectivity and decision relevance : A better framework for evaluating cohesion policies. ZEW Discussion Papers, 24–034. Mannheim.
- Bucher-Koenen, T., Knebel, C. and Weber, M. (2023). Do individuals accept fluctuations in pension income? ZEW Discussion Papers, 23–019. Mannheim.
- Fey, J.-C., Lerbs, O. W., Schmidt, C. and Weber, M. (2020). Risk attitude and capital market participation: Is there a gender investment gap in Germany? ZEW Discussion Papers, 20–080. Mannheim.
- Ungeheuer, M. and Weber, M. (2017). The perception of dependence, investment decisions, and stock prices. Mannheim: Universität Mannheim.
- Becker, D. M., Klüter, H., Niessen-Ruenzi, A. and Weber, M. (2016). The impact of direct cash payments on whole blood supply. SSRN Working Paper Series. Rochester, NY.
- Egan, D., Merkle, C. and Weber, M. (2014). Second-order Beliefs and the Individual Investor. Mannheim.
- Schreiber, P. and Weber, M. (2014). The Willingness to Pay, Accept and Retire. Mannheim.
- Ehm, C. and Weber, M. (2013). When Risk and Return are Not Enough: The Role of Loss Aversion in Private Investors' Choice of Mutual Fund Fee Structures. Mannheim.
- Jacobs, H., Müller, S. and Weber, M. (2013). How should individual investors diversify? An empirical evaluation of alternative asset allocation policies. Mannheim.
- Jacobs, H. and Weber, M. (2013). Losing Sight of the Trees for the Forest? Attention Allocation and Anomalies. Mannheim.
- de Palma, A., Abdellaoui, M., Atlanasi, G., Ben-Akiva, M., Erev, I., Fehr-Duda, H., Fok, D., Fox, C. R., Hertwig, R., Picard, N., Wakker, P. P., Walker, J. L. and Weber, M. (2013). Beware of black swans and do not ignore white ones? Cachan ; Mannheim [u.a.].
- Schreiber, P. and Weber, M. (2013). Time Inconsistent Preferences and the Annuitization Decision. Mannheim.
- Seubert, U. and Weber, M. (2013). 5, 10, or 15: Maturity Choice of Private Mortgage Borrowers. Mannheim.
- Merkle, C. and Weber, M. (2012). Do Investors Put Their Money Where Their Mouth Is? Stock Market Expectations and Investing Behavior. Mannheim.
- Weber, M., Weber, E. U. and Nosic, A. (2012). Who takes risks when and why: determinants of changes in investor risk taking. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 167. Mannheim.
- Ehm, C., Kaufmann, C. and Weber, M. (2011). Investors care about risk, but can't cope with volatility. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 179. Mannheim.
- Haisley, E. C., Kaufmann, C. and Weber, M. (2011). The role of experience sampling and graphical displays on one's investment risk appetite and comprehension. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 175. Mannheim.
- Jacobs, H. and Weber, M. (2011). The trading volume impact of local bias : evidence from a natural experiment. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 176. Mannheim.
- Koch, C., Weber, M. and Wüstemann, J. (2011). Can auditors be independent? – Experimental evidence on the effects of client type. Mannheim.
- Müller, S. and Weber, M. (2011). Evaluating the Rating of Stiftung Warentest: How good are Mutual Fund Ratings and can they be Improved? Mannheim.
- Nosic, A., Weber, M. and Glaser, M. (2011). Opening the black box: From an individual bias to portfolio performance. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 165. Mannheim.
- Seubert, U. and Weber, M. (2011). Maturity choice of private mortgage borrowers. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 180. Mannheim.
- Weber, M., Weber, E. U. and Nosic, A. (2011). Who takes risks when and why: determinants of changes in investor risk taking. Working Paper / Lehrstuhl für Finanzierung, Universität Mannheim, 167. Mannheim.
- Haisley, E. C., Kaufmann, C. and Weber, M. (2010). How much risk can I handle? The role of experience sampling and graphical displays on one's investment risk appetite and comprehension. None.
- Norden, L. and Weber, M. (2010). Credit line usage, checking account activity, and default risk of bank borrowers. Working papers / Lehrstuhl für ABWL, Finanzwirtschaft, insb. Bankbetriebslehre, 137. Mannheim.
- Nosic, A. and Weber, M. (2010). How risky do I invest: The role of risk attitudes, risk perceptions, and overconfidence. None. Mannheim.
- Biais, B., Nosic, A. and Weber, M. (2009). Overreaction and investment choices : an experimental analysis. None.
- Foos, D., Weber, M. and Norden, L. (2009). Loan growth and riskiness of banks. Working Papers, 142. Mannheim.
- Jacobs, H., Müller, S. and Weber, M. (2009). How should private investors diversify? : An empirical evaluation of alternative asset allocation policies to construct a “world market portfolio”. None.
- Nosic, A. and Weber, M. (2009). Changes of expectations and risk attitudes and their impact on risk taking behavior. None.
- Nosic, A. and Weber, M. (2009). Overreaction in stock forecasts and prices. None.
- Biais, B. and Weber, M. (2008). Hindsight bias, risk perception and investment performance. None.
- Borgsen, S. and Weber, M. (2008). False Consensus and the Role of Ambiguity in Predictions of Others’ Risk Preferences. None.
- Glaser, M., Langer, T., Reynders, J. and Weber, M. (2008). Scale dependence of overconfidence in stock market volatility forecasts. None.
- Jacobs, H., Müller, S. and Weber, M. (2008). Wie diversifiziere ich richtig? : Eine Diskussion alternativer Asset Allocation Ansätze zur Konstruktion eines “Weltportfolios”. None.
- Müller, S. and Weber, M. (2008). Financial Literacy and Mutual Fund Investments : Who Buys Actively Managed Funds? None.
- Sautner, Z. and Weber, M. (2008). How Do Managers Behave in Stock Option Plans? : Clinical Evidence from Exercise and Survey Data. None.
- Weber, M. and Welfens, F. (2008). Splitting the Disposition Effect : Asymmetric Reactions Towards “Selling Winners” and “Holding Losers”. None.
- Baucells, M., Weber, M. and Welfens, F. (2007). Reference Point Formation Over Time: A Weighting Function Approach. None.
- Baucells, M., Weber, M. and Welfens, F. (2007). Reference point formation over time : a weighting function approach. None.
- Borgsen, S. and Weber, M. (2007). False consensus and the role of ambiguity in predictions of others risky preferences. None.
- Glaser, M., Langer, T., Reynders, J. and Weber, M. (2007). Scale Dependence of Overconfidence in Stock Market Volatility Forecasts. None.
- Glaser, M., Schäfers, P. and Weber, M. (2007). Managerial Optimism and Corporate Investment : Is the CEO Alone Responsible for the Relation? Working papers / Lehrstuhl für ABWL, Finanzwirtschaft, insb. Bankbetriebslehre, 153. Mannheim.
- Glaser, M. and Weber, M. (2007). Which past returns affect trading volume? None.
- Koch, C., Weber, M. and Wüstemann, J. (2007). Can auditors be independent? : Experimental evidence. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07–59. Mannheim.
- Norden, L. and Weber, M. (2007). Checking account information and credit risk of bank customers. None.
- Nosic, A. and Weber, M. (2007). Determinants of Risk Taking Behavior: The role of Risk Attitudes, Risk Perceptions and Beliefs. None.
- Nosic, A. and Weber, M. (2007). Determinants of risk taking behavior : the role of risk attitudes, risk perceptions and beliefs. None.
- Sautner, Z. and Weber, M. (2007). What Determines How Top Managers Value their Stock Options? None.
- Schmitz, P., Glaser, M. and Weber, M. (2007). Individual Investor Sentiment and Stock Returns – What Do We Learn from Warrant Traders? Working papers / Lehrstuhl für ABWL, Finanzwirtschaft, insb. Bankbetriebslehre, 136. Mannheim.
- Schmitz, P. and Weber, M. (2007). Buying and Selling Behavior of Individual Investors in Option-like Securities. None.
- Weber, M. and Welfens, F. (2007). An individual level analysis of the disposition effect : empirical and experimental evidence. None.
- Weber, M. and Welfens, F. (2007). How Do Markets React to Fundamental Shocks? An Experimental Analysis on Underreaction and Momentum. None.
- Weber, M. and Welfens, F. (2007). How do markets react to fundamental shocks? : An experimental analysis on underreaction and momentum. None.
- Weber, M. and Welfens, F. (2007). The Follow-on Purchase and Repurchase Behavior of Individual Investors : An Experimental Investigation. None.
- Weber, M. and Welfens, F. (2007). The repurchase behavior of individual investors : an experimental investigation. None.
- Sautner, Z. and Weber, M. (2006). Corporate governance and the design of stock option programs. Working papers / Lehrstuhl für ABWL, Finanzwirtschaft, insb. Bankbetriebslehre, 134. Mannheim.
- Savov, S. and Weber, M. (2006). Fundamentals or market movements: What drives the dividend decision? None. Mannheim.
- Schmitz, P., Glaser, M. and Weber, M. (2006). Individual investor sentiment and stock returns – what do we learn from warrant traders? Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 06–12. Mannheim.
- Glaser, M., Langer, T. and Weber, M. (2005). Overconfidence of Professionals and Lay Men : Individual Differences Within and Between Tasks? None.
- Glaser, M., Langer, T. and Weber, M. (2005). Overconfidence of professionals and lay men : individual differences within and between tasks? None.
- Grunert, J. and Weber, M. (2005). Recovery Rates of Bank Loans: Empirical Evidence for Germany. None.
- Kleff, V. and Weber, M. (2005). Payout Policy and Owners' Interests – Evidence from German Savings Banks. None.
- Sautner, Z. and Weber, M. (2005). Corporate governance and the design of stock option programs. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 05–32. Mannheim.
- Sautner, Z. and Weber, M. (2005). Stock options and employee behavior. None.
- Sautner, Z. and Weber, M. (2005). Subjective stock option values and exercise decisions : determinants and consistency. None.
- Glaser, M. and Weber, M. (2004). Das Anlageverhalten von Discount-Broker-Kunden. Reihe Forschung für die Praxis, 15. Mannheim: Univ., Lehrst. für Bankbetriebslehre.
- Glaser, M. and Weber, M. (2004). Overconfidence and trading volume. Working Papers, 105. Mannheim.
- Kirchler, E., Maciejovsky, B. and Weber, M. (2004). Framing effects, selective information and market behavior : an experimental analysis. None.
- Kleff, V. and Weber, M. (2004). How Do Banks Determine Capital? Evidence from Germany. None.
- Klos, A. and Weber, M. (2004). Portfolio choice in the presence of nontradeable income : an experimental analysis. Working Papers, 109. Mannheim.
- Klos, A. and Weber, M. (2004). Portfolio choice in the presence of nontradeable income : an experimental analysis. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 04–01. Mannheim.
- Kraemer, C. and Weber, M. (2004). How do people take into account weight, strength and quality of segregated vs. aggregated data? Experimental evidence. None.
- Norden, L. and Weber, M. (2004). The comovement of credit default swap, bond and stock markets : an empirical analysis. Publications / Lehrstuhl für Allgemeine Betriebswirtschaftslehre, Finanzwirtschaft, insbesondere Bankbetriebslehre, Universität Mannheim, 116. Mannheim.
- Weber, M. and Wüstemann, J. (2004). Bedeutung des Börsenkurses im Rahmen der Unternehmensbewertung. None.
- Abdellaoui, M., Voßmann, F. and Weber, M. (2003). Choice-based elicitation and decomposition of decision weights for gains and losses under uncertainty. Discussion Papers / CEPR, 3756. London: Centre for Economic Policy Research.
- Glaser, M., Nöth, M. and Weber, M. (2003). Behavioral finance. Publications, 102. Mannheim.
- Glaser, M., Nöth, M. and Weber, M. (2003). Behavioral finance. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 03–14. Mannheim.
- Glaser, M. and Weber, M. (2003). Overconfidence and trading volume. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 03–07. Mannheim.
- Glaser, M. and Weber, M. (2003). September 11 and stock return expectations of individual investors. None.
- Kleff, V. and Weber, M. (2003). How Do Banks Determine Capital? – Empirical Evidence for Germany. None.
- Langer, T. and Weber, M. (2003). Does binding or feedback influence myopic loss aversion : an experimental analysis. None.
- Weber, M. and Zuchel, H. (2003). How do prior outcomes affect risk attitude? None.
- Glaser, M. and Weber, M. (2002). Momentum and turnover: evidence from the German stock market. Mannheim.
- Klos, A., Langer, T. and Weber, M. (2002). Über kurz oder lang : welche Rolle spielt der Anlagehorizont bei Investitionsentscheidungen? None.
- Siebenmorgen, N. and Weber, M. (2002). The influence of different investment horizons on risk behavior. None.
- Glaser, M. and Weber, M. (2001). Momentum and Turnover: Evidence from the German Stock Market. GK Working Paper Series, 01–07. Mannheim.
- Glaser, M. and Weber, M. (2001). Reich mit Value-Strategien? : Überblick über empirische Ergebnisse und die Erklärung des Anlageerfolgs. Reihe Forschung für die Praxis, 11. Mannheim.
- Kraemer, C. and Weber, M. (2001). To buy or not to buy : why do people buy too much information? None.
- Siebenmorgen, N., Weber, E. U. and Weber, M. (2001). Communicating Asset Risk : how the format of historic volatility information affects risk perception and investment decisions. None. Mannheim.
- Kraemer, C., Nöth, M. and Weber, M. (2000). Information aggregation with costly information and random ordering : experimental evidence. None.
- Langer, T., Sarin, R. and Weber, M. (2000). The retrospective evaluation of payment sequences : duration neglects and peak-and-end-effects. None.
- Langer, T. and Weber, M. (2000). The impact of feedback frequency on risk taking : how general ist the phenomenon? Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 00–49. Mannheim.
- Nöth, M. and Weber, M. (2000). Information aggregation with random ordering : cascades and overconficence. None.
- Siebenmorgen, N., Weber, E. U. and Weber, M. (2000). Communicating asset risk : how the format of historic volatility information affects risk perception and investment decisions. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 00–38. Mannheim.
- Jacobs, H., Laudenbach, C., Müller, S., Schreiber, P. and Weber, M. (2020). Die genial einfache Vermögensstrategie : so gelingt die finanzielle Unabhängigkeit. Frankfurt: Campus Verlag.
- Merkle, C. and Weber, M. (2012). Finanzmarkterwartungen von Privatanlegern : Grundlage für fundiertes Handeln? Mannheim: Univ., Lehrstuhl für ABWL und Finanzwirtschaft, insbesondere Bankbetriebslehre.
- Weber, M., Borgsen, S., Glaser, M., Norden, L., Nosic, A., Savov, S., Schmitz, P. and Welfens, F. (2007). Genial einfach investieren : Mehr müssen Sie nicht wissen – das aber unbedingt. Frankfurt a. M.: Campus-Verl.
- Hüffer, U., Schmidt-Aßmann, E. and Weber, M. (2005). Anteilseigentum, Unternehmenswert und Börsenkurs. München: Beck.
- Eisenführ, F., Langer, T. and Weber, M. (2001). Fallstudien zu rationalem Entscheiden. Heidelberg: Springer.
- Nöth, M. and Weber, M. (2001). Rationales und irrationales Herdenverhalten : sind Schafe klüger? Mannheim: Behavorial Finance Group, LS für ABWL, Finanzwirtscchaft insbes. Bankbetriebslehre.
- Hartmann-Wendels, T., Pfingsten, A. and Weber, M. (2000). Bankbetriebslehre. Berlin et al.: Springer.
- Eisenführ, F. and Weber, M. (1999). Rationales Entscheiden. Berlin et al.: Springer.
- Hartmann-Wendels, T., Pfingsten, A. and Weber, M. (1998). Bankbetriebslehre. Berlin; Heidelberg: Springer.
- Weber, M. (1990). Risikoentscheidungskalküle in der Finanzierungstheorie. Stuttgart: Poeschel.
- Weber, M. (1983). Entscheidungen bei Mehrfachzielen : Verfahren zur Unterstützung von Individual- und Gruppenentscheidungen. Wiesbaden: Gabler.
- Steffen, S. and Weber, M. (2011). Thesen zur Reform des Einlagensicherungssystems. In Handbuch Corporate Governance von Banken (S. 301–312). München: Vahlen [u.a.].
- Glaser, M. and Weber, M. (2010). Vertrauen Sie niemandem, der Ihnen erzählt, er wisse, wie sich die Kurse entwickeln. In Wirtschaft und Kultur im Gespräch (S. 87–103). Frankfurt: Frankfurter Allg. Buch.
- Weber, M. and Glaser, M. (2010). Overconfidence. In Behavioral Finance : Investors, Corporations, and Markets (S. 241–258). Hoboken, NJ: Wiley.
- Weber, M. and Glaser, M. (2009). Financial Literacy und Anlegerverhalten. In Risikomanagement und kapitalmarktorientierte Finanzierung : Festschrift zum 65. Geburtstag von Bernd Rudolph (S. 947–967). Frankfurt a.M.: Knapp .
- Nöth, M. and Weber, M. (2007). Behavioral Finance. In Handwörterbuch der Betriebswirtschaft (S. 86–94). Stuttgart: Schäffer-Poeschel.
- Glaser, M., Nöth, M. and Weber, M. (2004). Behavioral finance. In Blackwell handbook of judgment and decision making (S. 527–546). Malden, Mass. [u.a.]: Blackwell.
- Weber, M. (2004). Basel II und Kredit-Rating : Überblick und “offene” Fragen. In Gesellschaftsrecht in der Diskussion ; 2003 (S. 115–132). Köln: Schmidt.
- Langer, T. and Weber, M. (2000). Banken als Finanzintermediäre. In Geld-, Bank- und Börsenwesen : Handbuch des Finanzsystems (S. 201–231). Stuttgart: Schäffer-Poeschel.
- Schiereck, D. and Weber, M. (2000). Finanzaktivapreise: Theorie und Evidenz. In Geld-, Bank- und Börsenwesen : Handbuch des Finanzsystems (S. 270–298). Stuttgart: Schäffer-Poeschel.
- Langer, T., Weber, M., Ihde, G. B., Kieser, A., Kühne, D., Oechsler, W. A., Perlitz, M. and Seger, F. (1999). Entscheidungsanalyse. In Unternehmungspolitik (S. 31–89). Stuttgart: Schäffer-Poeschel.
- Machauer, A. and Weber, M. (1999). Il comportamento delle banche e il rating interno dei prenditori. In Il rischio creditizio, misura e controllo (S. ). Turin: UTET Libreria.
- Weber, M. and Mangelsdorff, L. (1998). Hindsight-Bias im Prinzipal-Agent-Kontext : Die Aktennotiz als Antwort? In Organisation im Wandel der Märkte (S. 461–478). Wiesbaden: Gabler.
- Loomes, G. and Weber, M. (1996). Endowments Effects for Risky Assets. In Understanding Strategic Interaction : Essays in Honor of Reinhard Selten (S. 494–512). Berlin: Springer Verlag.
- Weber, M., Eisenführ, F. and von Winterfeldt, D. (1987). Bias in Assessment of Attribute Weights. In Toward Interactive and Intelligent Decision Support Systems (S. 309–318). Berlin [u.a.]: Springer.
- Weber, M. (1983). An Empirical Investigation on Multiattribute Decision Making. In Essays and Surveys on Multiple Criteria Decision Making (S. 379–388). Berlin: Springer.