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Level-Slope-Curvature - Fact or Artefact?

Lord, Roger; Pelsser, Antoon - Tinbergen Instituut - 2005

The first three factors resulting from a principal components analysis of term structure data are in the literature typically interpreted as driving the level, slope and curvature of the term structure. Using slight generalisations of theorems from total positivity, we present sufficient...

Persistent link: https://www.econbiz.de/10011256999

Estimating Loss Functions of Experts

Franses, Philip Hans; Legerstee, Rianne; Paap, Richard - Tinbergen Instituut - 2011

We propose a new and simple methodology to estimate the loss function associated with experts' forecasts. Under the assumption of conditional normality of the data and the forecast distribution, the asymmetry parameter of the lin-lin and linex loss function can easily be estimated using a linear...

Persistent link: https://www.econbiz.de/10011257050

A Multi-Scenario Forecast of Urban Change: A Study on Urban Growth in the Algarve

Vaz, Eric de Noronha; Nijkamp, Peter; Painho, Marco; … - Tinbergen Instituut - 2011

-Criteria Evaluation. Finally, our analysis to identify the scenario with the best fit, based on the evolution of the actual 2006 land …

Persistent link: https://www.econbiz.de/10011257362

The Degradation of Distorted Performance Measures

Sloof, Randolph; Praag, Mirjam van - Tinbergen Instituut - 2008

Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the noise and distortion of a performance measure can be...

Persistent link: https://www.econbiz.de/10011256322

Pharmaceutical Research Strategies

Phlippen, Sandra; Vermeersch, An - Tinbergen Instituut - 2008

This study analyses 1400 research projects of the top 20 R&D-spending pharmaceuticals to identify the determinants of successful research projects. We provide clear evidence that externally sourced projects and projects involving biotechnologies perform better than internal projects and chemical...

Persistent link: https://www.econbiz.de/10011256608

Testing for Distortions in Performance Measures: An Application to Residual Income Based Measures like Economic Value Added

Sloof, Randolph; Praag, Mirjam van - Tinbergen Instituut - 2014

This discussion paper resulted in a publication in the 'Journal of Economics and Management Strategy', forthcoming.<P> Distorted performance measures in compensation contracts elicit suboptimal behavioral responses that may even prove to be dysfunctional (gaming). This paper applies the empirical...</p>

Persistent link: https://www.econbiz.de/10011257274

Equilibrium Directed Search with Multiple Applications

Albrecht, James; Gautier, Pieter; Vroman, Susan - Tinbergen Instituut - 2003

We analyse a model of equilibrium directed search in a large labour market. Each worker, observing the wages posted at all vacancies, makes a fixed, finite number of applications, a. We allow for the possibility of ex post competition should more than one vacancy want to hire the same worker....

Persistent link: https://www.econbiz.de/10011249546

Matching with Multiple Applications

Albrecht, James W.; Gautier, Pieter A.; Vroman, Susan B. - Tinbergen Instituut - 2001

We analyze the implications of multiple applications by job seekers for the microfoundations of the matching function …

Persistent link: https://www.econbiz.de/10011256754

Transfers and Exchange-Stability in Two-Sided Matching Problems

Lazarova, Emiliya; Borm, Peter; Estévez-Fernández, Arantza - Tinbergen Instituut - 2014

In this paper we consider one-to-many matching problems where the preferences of the agents involved are represented by … matching to a matching of maximum total reward, one can always provide a compensation schedule that will be ex-post stable in … uses the fact that the core of an associated compensation matching game with constraints is nonempty. …

Persistent link: https://www.econbiz.de/10011257556

Commuters' Preferences for Fast and Reliable Travel

Koster, Paul; Koster, Hans - Tinbergen Instituut - 2013

We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed heterogeneity in preferences in a flexible way, meaning that...

Persistent link: https://www.econbiz.de/10011271951