We consider the allocation of a finite number of indivisible objects to the same number of agents according to an exogenously given queue.We assume that the agents collaborate in order to achieve an efficient outcome for society.We allow for side-payments and provide a method for obtaining...

We measure the contribution of fiscal decentralization to trust in government. Using repeated cross-country survey data of individuals on several measures of trust in govern- ment over the 1994-2007 period, we estimate an ordered response model of the government trust and fiscal decentralization...

We consider cooperative games with transferable utility (TU-games), in which we allow for a social structure on the set of players, for instance a hierarchical ordering or a dominance relation.The social structure is utilized to refine the core of the game, being the set of payoffs to the...

This paper studies the formation of consumers’ infl‡ation expectations using<br/>micro-level data from the Michigan Survey. It shows that beyond the well-established socio-economic determinants of infl‡ation expectations like gender, income or education also other characteristics like the...

In Hens (1997), a new adjustment process is proposed for a setting with reopening spot and asset markets. He argues by means of an intemporal variant of Scarf's example that this process is more stable than the other processes, although in general it might be more stable or less stable. This...

The “gambler’s fallacy” is the false belief that a random event is less likely to occur if the event has occurred recently. Such beliefs are false if the onset of events is in fact independent of previous events. We study gender differences in the gambler’s fallacy using data from the...

Abstract: This paper examines the nexus between news coverage on inflation and households' inflation expectations. In doing so, we test the epidemiological foundations of the sticky information model (Carroll, 2003, 2006). We use both aggregate and household-level data from the Survey Research...

Why is labour mobility in the European Union so low? To shed light on this issue we focus and examine international labour migration intentions of the Dutch potential labour force. A key characteristic of intended labour migration of the Dutch is that its low level and the fact that it is...