Pianists who achieve high scores in the Queen Elizabeth musical competition are rewarded by subsequent success.It is not clear whether this is caused by the score itself or because those who have high scores are better pianists anyway. Since the timing and the order of appearance are good...

We argue that the language spoken by corporate decision makers influences their firms’ social responsibility and sustainability practices. Linguists suggest that obligatory future-time-reference (FTR) in a language reduces the psychological importance of the future. Prior research has shown...

In this paper we review, and draw some lessons from, the UMTS-auctions that have taken place in Europe during 2000 and 2001.We address several design issues and, in particular, focus attention on asymmetries between the bidders and on possibilities for collusion.An outlook is provided to several...

We examine the interrelation between interconnection and competition in the internet backbone market.Networks asymmetric in size choose among different interconnection regimes and compete for end-users.We show that a direct interconnection regime, Peering, softens competition compared to...

In February 1998 the Dutch government auctioned licences to operate mobile telecommunications networks according to the DCS-1800 technology. Two “national” licences and sixteen “regional” ones were auctioned by using a variant of the simultaneous, multiple round auction that was proposed...

We investigate the fundamental determinants and value implications of corporate social responsibility (CSR) around the world. We contrast three broad views on CSR: (1) it is a response to government failure; (2) it reflects individual and societal preferences; (3) it is an equilibrium result of a...

Abstract: We investigate the roles of legal origins and political institutions – believed to be the fundamental determinants of economic outcomes – in corporate social responsibility (CSR). We argue that CSR is an essential path to economic sustainability, and document strong correlations...

Abstract: This paper estimates the relationship between various sub-indicators of economic freedom and life satisfaction for 122 countries. The estimation results show that life satisfaction is positively related to the quality of the legal system and protection of property rights. For poor...

The increase in carbondioxide emissions by some countries in reaction to an emission reduction by countries with climate policy (carbon leakage) is seen as a serious threat to unilateral climate policy.Using a two-country model where only one of the countries enforces an exogenous cap on...