Contemporary migration studies witness an increasing interest in the socio-economic

This study models the choices of Dutch railway users (aggregated at the 4 digit post code area) for access mode and departure railway stations. For each post code area a set of four access modes: car, public transport, bicycle and walking and a set three departure railway stations are...

The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly...

We analyze financial support for the entrepreneurial sector. State support can raise welfare by relaxing financial constraints, but it can also reduce lending standards if entrepreneurs substitute public sources of collateral for their own assets, if it encourages excessive entrepreneurial...

This paper addresses the issue of the choice of the optimal instrument to sell new shares, this choice being price versus quantity discrimination (rationing). Previous results in the literature (Benveniste and Wilhelm, 1990) show that the issuing firm would be better off if allowed to use both...

In a democracy, a political majority can influence both the corporate

The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...

See 'Political Connections And Preferential Access To Finance: The Role Of Campaign Contributions' in <A HREF="http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBX-4P3DY39-4&_user=499884&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1004038141&_rerunOrigin=scholar.google&_acct=C000024499&_version=1&_urlVersion=0&_userid=499884&md5=d48c00bd293b73b16a75eb763ff75630"><I>Journal of Financial Economics</I>, 2008, 88(3), 554-580</A>.

We consider repeated trust game experiments to study the interplay between explicit and relational incentives. After having gained experience with two payoff variations of the trust game, subjects in the final part explicitly choose which of these two variants to play. Theory predicts that...