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As a result of the growth of the football players' transfer market and the increased availability of data, scholars from different fields have been investigating the topic of the empirical determination of the football players’ valuation, that is, transfer fees or monetary valuation proposed by media, for 30 years. We propose a systematic review of the topic to provide the research community with an overview of the determinants of football players' valuation. Peer‐reviewed papers written in English on men's football presenting fully available and interpretable econometrical results were selected. Based on the careful analysis of the 29 selected papers and their empirical models, this study has two main implications. First, it classifies all the independent variables used in the literature to explain or predict football players’ valuation, and proposes a set of core explanatory variables, with associated expected signs, that constitutes the common ground on which to build further research. Second, by presenting the state of the art in the current empirical literature, it highlights the existing gaps and suggests precise future research objectives. From a more general perspective, the review provides empirical insights for researchers interested in the valuation of human resources, signaling theory, market design, or bargaining theory.

Worldwide, politicians, scientists, and entrepreneurs are operating under high uncertainty and incomplete information regarding the adequacy of measures to deal with the COVID-19 pandemic. It seems indisputable that only widespread and global immunity can bring normalization to social life. In this respect, the development of a vaccine was a milestone in pandemic control. However, within the EU, especially in Germany, the vaccination plan is increasingly faltering, and criticism is growing louder. This paper considers the EU’s political decision in general and the decisions of the German government to procure vaccine doses against the background of modern economics as a decision under uncertainty and critically analyzes the process.

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In the division of labor, economizing valuations require an appraisement of the structure of market prices of goods beforehand. Yet, investment decisions concerning the purchase of an entire business enterprise, for example, necessitate considerations beyond appraisement. An economizing valuation of businesses must be based upon both appraisement and a genuine investment appraisal which provides the valuing person with the marginal price he can barely accept. However, even though the computation of this marginal price is a necessary step towards an economizing investment decision, it is still not sufficient. In case of a company purchase, the price to be paid is unknown beforehand. Therefore, an economizing valuation of firms not only requires both appraisement and investment appraisal but also a negotiation of the final price to be paid. Because the corresponding negotiation process must be characterized as a terra incognita in Austrian economics, this paper investigates in depth the negotiation between the involved parties as the final step towards their economizing valuations and discusses purposive negotiation tactics.

The phenomenon of home advantage (home bias) is well-analyzed in the scientific literature. But only the COVID-19 pandemic enabled studies on this phenomenon—for the first time in history—on a global scale. Thus, several studies to date examined the effects of empty stadiums by comparing regular matches (with supporters) before the COVID-19 restrictions with so-called ghost games (games without supporters) during the pandemic. To synthesize the existing knowledge and offer an overview regarding the effects of ghost games on home advantage we provide a systematic literature review on this topic. Our findings—based on 26 primary studies—indicate that ghost games have a considerable impact on the phenomenon of home advantage. Deeper analysis further indicates that this effect is based on a reduced “referee bias” and a lack of “emotional support from the ranks”. From a psychological perspective, we argue that our conclusions are highly relevant by emphasizing decision making under pressure and crowd-induced motivation in sports. From a socio-economic perspective, we argue that our findings legitimize a discussion regarding compensation of fans after sporting success as plausible and worth considering. Thus, our results are significant for scientists, sports and team managers, media executives, fan representatives and other persons responsible in the football industry.

The devastating nuclear disaster in Fukushima, Japan, in 2011, which was triggered by a tsunami in the wake of an earthquake, resulted in the decision to quickly phase out nuclear power and with it implicitly accelerated the German Energiewende (energy transition). To the outside observer, the decision appeared to be spontaneous and possibly due to a distorted perception of the associated risks of nuclear power. From the decision results not only the limiting uses of private property by conventional energy providers, but the exit from nuclear energy has also implications for the energy market. As with every human, political actors decide under uncertainty and incomplete information. Based on these parameters, we emphasize that the decision of a political actor is comparable to management decision-making. The paper takes this as an opportunity to examine the political decision to phase-out nuclear energy by discussing relevant parameters from the perspective of decision theory. We plead for a mandatory consideration of economic findings, especially from decision theory and risk management in political decision-making processes, especially in matters that affect future generations.

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