Closed-End Fund (CEF) discounts have intrigued researchers for decades. Of the many explanations offered, the behavioural framework of Lee <italic>et al</italic>. (1991), which posits noise traders subject to sentiment, is the most discussed. In this article, we contribute some novel evidence to the evaluation...

This paper measures the responsiveness of a public agency to changes in public opinion. In particular, it shows that the number of compulsory directives issued by the Federal Aviation Administration to the airline industry (a) rises following an increase in public concern over aviation safety,...

At the beginning of 1992, the European Commission inaugurated its second DRIVE R&D programme to examine the benefits of implementing various Advanced Transport Telematic applications. METAFORA, one of the projects funded within this programme, was initiated by a consortium of 14 organizations....

Every experimentalist will sooner or later come across a situation in which results from initial baseline treatments conform nicely to the Nash equilibrium, but subsequent changes in parameters push the data in ways not predicted by Nash. This may happen when one begins by giving theory its best...