This article is the first attempt to study the empirical link between income aspirations and cooperation in a one shot public good game. By combining experimental with survey data, we find evidence that the more frustrated people are with their income, the lower is their propensity to cooperate...

This paper considers a representative firm taking investment decisions in a high-tech environment where different generations of products are invented over time. First, we develop a real options investment model in which, according to standard practice, the sales price and the unit production...

Abstract: We examine the dynamic feedback effects of fiscal policies on the government budget and economy activity in a calibrated general equilibrium framework featuring endogenous growth through creative destruction. For several European countries, we find that making tax incentives with...

This paper explores the optimal risk sharing arrangement between generations in an overlapping generations model with endogenous growth.We allow for nonseparable preferences, paying particular attention to the risk aversion of the old as well as overall "life-cycle" risk aversion.We provide a...

It is nowadays widely believed that public schooling may contribute favourably to long-term economic growth. The income tax rates that are needed to finance government spending typically show an erratic time pattern. Such tax randomness could increase the intensity of the business cycle. Thus,...

This paper investigates whether there are country-specific characteristics in goalscoring in the final stage of important international football matches. We examine goal-scoring from 1960 onwards in full `A' international matches of six national teams: Belgium, Brazil, England, Germany, Italy...

This paper studies the causes and consequences of in-season changes of the headcoach of association football teams. We exploit data from the highest level of<br/>Dutch professional football during 14 successive seasons. An in-season change of<br/>the head-coach depends on recent match results and the...