Risk may induce precautionary saving but it can also reduce saving. The theoretical literature recognizes both possibilities, but favors a positive effect (both for developed and developing countries); the empirical literature is divided, reporting (small) positive effects for developed...

Urban heritage is often concentrated in conservation areas with a protected status. Previous research argues that urban heritage attracts especially higher educated households who are likely to have higher incomes. The presence of these households may have a further impact on the attractiveness...

This study analyses the impact of cultural composition on regional attractiveness from the perspective of migrant sorting behaviour. We use an attitudinal survey to quantify cultural distances between natives and immigrants in the area concerned, and estimate the migrants’ varying preferences...

We explore how public opinion polls affect candidates' campaign spending in political competition. Generally, polls lead to (more) asymmetric behavior. Under a majority rule there always exists an equilibrium in which the initially more popular candidate invests more in the campaign and thereby...

We augment the standard cartel formation game from non-cooperative coalition theory, often applied in the context of international environmental agreements on climate change, with the possibility that singletons support coalition formation without becoming coalition members themselves. Rather,...

This discussion paper led to a chapter in .Voting Power and Procedures: Essays in Honour of Dan Felsenthal and Moshé Machover', (eds. R. Fara, D. Leech, and M. Salles), pp 41-64, 2014. The main purpose of the present paper is to disentangle the mix-up of the notions of success and satisfaction...

This discussion paper resulted in a publication in 'Public Choice', 151, 757-787. <P> Power is a core concept in the analysis and design of organizations. One of the problems with the extant literature on positional power in hierarchies is that it is mainly restricted to the analysis of power in...</p>

We study two aspects of globalization. It allows a decision-maker to go beyond his own local experience and to learn from other decision-makers in addressing common problems. This improves the identification and diffusion of best practices. It also provides extra information to `markets' that...