This discussion paper led to a publication in <A href="http://www.sciencedirect.com/science/article/pii/S0167487010000954">'Journal of Economic Psychology'</A>, 31(6), 1008-20.<P>We analyze individual satisfaction with life as a whole and satisfaction with the personal financial situation for Israeli citizens of Jewish and Arab descent. Our data set is the Israeli Social Survey...</p></a>

We use a classic Merton credit risk framework to argue that Islamic Banking Institutions (IBIs) face less incentive to take on risks than Conventional Banking Institutions (CBI). IBIs have less incentive for risk shifting both in and outside of distress situations. We test and confirm this...

We use a classic Merton credit risk framework to argue that Islamic Banking Institutions (IBIs) face less incentive to take on risks than Conventional Banking Institutions (CBI). IBIs have less incentive for risk shifting both in and outside of distress situations. We test and confirm this...

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...

This discussion paper led to a chapter in 'Power, Freedom and Voting' (eds. M. Braham and F. Steffen), Springer, pp 57-81, 2008.<p> Power is a core concept in the analysis and design of organisations. In this paper we consider positional power in hierarchies. One of the problems with the extant...</p>

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,...