Building genuine (decision-making) behaviour into economic models

Economists endeavour to emulate the behaviour of actors in economic contexts in order to calculate the consequences. The difficulty is this: Many at times restrictive assumptions concerning the behaviour of actors do not reflect the real world. A new project funded by the Anniversary Fund of the OeNB (Oesterreichische Nationalbank) aims to get a better grasp on reality.

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A numbers person who models behaviour


Stephan Leitner realized at an early stage that he is a numbers person among the business and economics specialists, someone who feels more comfortable with the quantitative subjects than with the “softer” subjects. Today, following his recent habilitation, the newly minted associate professor pursues his research at the Department of Management Control and Strategic Management, where he is working on models that calculate the decision-making behaviour in companies as well as the effects of decisions, taking into account the behavioural sciences.

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Packages delivered by air: Drones as delivery service

What has travelled by road to reach us until now could be delivered by drones in the future. This has many advantages: Poor rural transport infrastructure or persistent congestion in large cities can be bypassed. In 2013, Amazon was among the first to announce the intention to deliver goods using small autonomous drones. But when might this technology truly become part of our daily lives? Drone researcher Pasquale Grippa provides some answers.

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