This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent’s risk aversion. We find that the use of both accounting and market performance measures in executive compensation contracts decreases as the...

This note represents results about the extent of teaching the history of economic thought at German language based universities. At the time when cuts need to be made, many universi ties are thought of cutting non-essential courses first, of which the history of economic thought might be...

Bargaining problems are considered where the preferences of the bargainers deviate from expected utility but can be modelled according to rank dependent utility theory. Under rank dependent utility two factors influence the risk attitude of a decision maker: the utility function and the...

A method to allocate the benefits to the players of a cooperative game is the Shapley value. Its computation demands the knowledge of all coaltion worths with certainty. This paper introduces the expected Shapley value, an extension of the Shapley to games were not all the worths are known with...

Regional policy makers need regional economical data in order to define and backup their economical policy decisions. Regional input-output (IO) tables have proved to be useful in the policy making process, since the economic effects of policy decisions can be analysed in these models for the...

This paper develops and tests a model explaining diversity within top executive management teams from the perspective of selective turnover. We draw on two theoretical perspectives to describe the pull toward team homogenization (low diversity) and the push toward team heterogenization (high...

The Netherlands is well known for its high employment growth and corresponding low unemployment rate. At various occasions the so-called Dutch miracle has been applauded, together with the underlying ‘Polder model’. A feature that initially was less recognised in the international debate,...

The Internet revolution has led to significant changes in the way travel agencies interact with customers. Travel websites are used to different degrees, and for a variety of combinations of pre-transaction, transaction and post-transaction services. A better understanding of how customers...

A convenient way to find out how things are going is by taking a look at your neighbours. In this paper we develop a method for the evaluation of regional economic performance based on an input-output (IO) framework. Once we defined economic criteria for measuring this performance, such as real...

This study provides new evidence on the emergence of a single Eurozone retail banking market. Applying cointegration methodology, the empirical results indicate only limited evidence for integration before January 1, 1999. The introduction of the Euro manifests itself in structural breaks after...