Vienna University of Economics and Business
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A PRACTICAL THEORY OF FUNGIBILITY
Full text linkWe formalize 'degrees of fungibility' by differentiating goods according to both their underlying attributes and the perceived value and/or usefulness of those attributes to a value assessor. This allows us to distinguish between goods that appear to be 'exactly the same' from those goods that appear to be 'nearly the same'. Such a distinction is of particular importance in the design space of digital goods, which may exist both natively in the digital space and as surrogates, i.e. as digital representations of physical goods. We provide motivating examples where digital objects are too fungible for certain desired uses, and proceed to develop a formal framework under which degrees of fungibility can be defined and characterized. We close by bridging this framework to applications in machine learning and market design.Series: Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Researc
Lockdown policies and the dynamics of the first wave of the Sars-CoV-2 pandemic in Europe
Full text linkThis paper follows European countries as they struggled through the first wave of the Sars-CoV-2 pandemic. We analyze when countries were confronted with the virus, how long it took until the number of new infections peaked and at what level of infections that peak was achieved via social distancing and lockdown policies. Most European countries were able to successfully end the first wave of the pandemic–defined as a two-week incidence rate smaller than 10 cases per 100,000 people. We find that countries in which the virus made significant landfall later in time enjoyed a late comer advantage that some of these countries squandered, however, by not responding quickly enough and that an early lockdown was more effective than a hard lockdown
An application of the sports logistics framework: the case of the Dallas Cowboys
Full text linkGlobal, national and regional sport organizations heavily rely on logistics management practices in their operations. However, scientific research in sports logistics is in its infancy, with conceptualizations of the sport logistics domain proposed only recently. In response and by using a reoccurring professional sport event as a case, this study applies the Sports Logistics Framework (SLF) to systematically assess logistics activities, organizational structures, resources and components. Based on semistructured interviews, unstructured participant observation, internal documents and additional secondary data, our findings not only provide insights into the logistics operations behind a matchday of one of the leading and most valuable sport competitions in the world, but also contextualize, illustrate and refine the logistical tasks of the SLF, thereby providing a template which can be used for further comparison and examination of logistics activities at similar sport events
Car registration taxes across EU countries, MNEs’ profitability, and the role of market concentration
Full text linkDespite the European Commission’s concrete steps to integrate the national car markets and reduce car price
dispersion, significant car price differences exist. Moreover, international differences in taxation of sales and
registration of motor vehicles do not give rise to considerable cross-border shopping. This paper discusses the
effects of one-off car registration taxes (CRT) and market concentration level on the profitability of multinational
enterprises (MNEs) operating in the European Union car industry. Our simple theoretical framework shows that
firm’s profits depend on the demand function and therefore on taxes applied to prices. We overcome empirically
the challenges of making informative theoretical predictions on the pass-through rate under imperfect
competition. We find that car registration taxes, - both as ad valorem taxes and as specific taxes, - have a
significant negative effect on MNEs’ profitability. Our findings show a statistically significant positive effect of
market concentration on profitability. Finally, our results suggest that the degree of competitiveness in the car
market moderates the effect of car registration taxes on firm profitability only in EU countries where the CRT is
formulated as an ad valorem tax, with the negative effect of the ad valorem CRT becoming higher as the car
market becomes less competitive.Series: WU International Taxation Research Paper Serie
Headquarters Landscape in Austria: Vienna HQs.
Full text linkVienna is at the heart of the Austrian economy, hosting 569 headquarters (HQs). With this study, we deep dive into the Viennese HQ landscape and study its composition as well as characteristics in terms of the types, size, sector, and origin of its HQs. This report is meant to be an addition to our previously published report on “Headquarters Landscape in Austria: An Overview” (2022). Therefore, it focuses on a subsample – represented by the HQ population in Vienna – of the initial database of HQs in Austria. Overall, Vienna emerges as an important hub for the financial sector and the service industry – comprising legal, accounting, management, and consulting activities, among others. Moreover, the HQ population in Vienna is characterized by small and medium-sized enterprises (SMEs), but it also hosts a few remarkably large HQs
Die Landschaft von Firmenzentralen in Österreich: Firmenzentralen in Wien
Full text linkWien ist das Herzstück der österreichischen Wirtschaft und beherbergt 569 Firmenzentralen. Mit dieser Studie tauchen wir tiefer in die Landschaft von Firmenzentralen in Wien ein und untersuchen ihre Zusammensetzung sowie Merkmale in Bezug auf Art, Größe, Sektor und Herkunft der Firmenzentralen. Dieser Bericht ist eine Ergänzung zu unserem bereits veröffentlichten Bericht „Die Landschaft von Firmenzentralen in Österreich: Ein Überblick“ (2022) und konzentriert sich ausschließlich auf die Population von Firmenzentralen in Wien, was nur einen Teil der ursprünglichen Datenbank von Firmenzentralen in Österreich darstellt. Insgesamt erweist sich Wien als wichtiges Zentrum für Firmenzentralen aus dem Finanzsektor und der Dienstleistungsbranche, die unter anderem Rechts-, Steuer-, Management- und Beratungsaktivitäten umfasst. Darüber hinaus ist die Population von Firmenzentralen in Wien zwar von kleinen und mittleren Unternehmen (KMU) geprägt, aber es gibt auch einige bemerkenswerte große Firmenzentralen, die in Wien ansässig sind
Data Protection and Consenting Communication Mechanisms: Current Open Proposals and Challenges
Full text linkData Protection and Consenting Communication Mechanisms (DPCCMs) enable users to express their privacy decisions and manage their online consent. Thus, they can become a crucial means of protecting individuals’ online privacy and agency, thereby replacing the current problematic practices such as “consent dialogues”. Based on an in-depth analysis of different DPCCMs, we propose an interdisciplinary set of factors that can be used for a comparison of such mechanisms. Moreover, we use the results from a qualitative expert study to identify some of the main multidisciplinary challenges that DPCCMs should address to become widely adopted data privacy mechanisms. We leverage both the factors and the challenges to compare two current open specifications, i.e. the Advanced Data Protection Control (ADPC) and the Global Privacy Control (GPC), and discuss future work
Co-Creating and Marketing Sustainable Cities: Urban Travel Mode Choice and Quality of Living in the Case of Vienna
No full textResearch/Case problem:
How can quality of living and environmentally friendly mobility choices be facilitated, improved and measured in an era of urbanization?
Chapter overview (case synopsis)
Recent global rankings recognize Vienna as top ranked city in terms of its quality of living. This case shows that progressive environmental policy settings and innovative internal marketing are drivers to leverage opportunities that arise from a favorable international reputation.
The case then describes Vienna’s success in shifting the travel mode choices of its residents, especially with the introduction of an affordable “365 Euro annual pass” for its entire public transport network. Changing individuals’ transport choice and behavior is a key component toward achieving climate targets and creating desirable urban environments.
The widespread adoption of the innovative offering to access public transport benefits organizations and businesses operating in the city is exemplified by the largest Austrian football club, Rapid Vienna, and original data of fan mobility.Security: staffonl
Habit Drives Sustainable Tourist Behaviour
Full text linkMost practical interventions the tourism industry deploys to make tourists behave in more environmentally sustainable ways when they are at their premises or destination – such as the request to reuse towels to protect the environment – rely on attention and cognitive processing. We propose that focusing instead on habit, as the key construct, will be more effective in achieving behavioural change. This study discusses the – largely neglected – role of habit in our understanding of tourist behaviour and provides initial empirical proof of concept of the explanatory power of habit. Findings suggest that entirely new types of behavioural interventions should be developed, which aim at breaking bad vacation habits through disrupting automaticity, such as reducing plate size to prevent overfilling of plates at the buffets, and re-establishing good habits people enact at home, such as by asking people to treat the hotel the same way they do their own home
Volatility shocks and investment behavior
Full text linkWe investigate how volatility shocks affect investors risk-taking, risk perception and forecasts. We run artefactual field experiments with two participant pools (finance professionals and students), differing in (i) the direction of the shock (down, up, or a neutral case) and (ii) the presentation format of the time series (prices or returns). Professionals investments are negatively associated with the price change and performance of the stock and their perceived risk increases to a similar extent following shocks of all directions. Students risk perception, in contrast, is more closely related to the frequency of negative returns rather than an increase in volatility