It has been widely suggested that since the early 1980s many diversified firms narrowed the scopeof their activities by refocusing on their core businesses, primarily through divestment activity.This study examines the extent and determinants of divestment across a large sample of UK firmsover...

Wir analysieren das Gesetz zur Angemessenheit der Vorstandsvergütung. Ferner arbeiten wir einige aufgrund wirtschaftswissenschaftlicher Überlegungen zu erwartende Probleme heraus und prognostizieren mögliche ökonomische Auswirkungen des Gesetzes. Des Weiteren gehen wir im Rahmen einer...

Our paper analyzes the interplay of organizational demography with the propensity to adopt an innovative practice. In particular, we examine how the demographical composition of professional German football teams influenced the adoption of the chain-defense-system (?Viererkette?) as well as the...

This paper examines the intricacies associated with the design of revenue-maximizing mechanisms for a monopolist who expects her buyers to resell. We consider two cases: resale to a third party who does not participate in the primary market and inter-bidder resale, where the winner resells to...

This paper illustrates the intricacies associated with the design of revenue-maximizing mechanisms for a monopolist who expects her buyers to resell in a secondary market. We consider two modes of resale: the first is to a third party who does not participate in the primary market; the second is...

In the Yes/No game, like in the ultimatum game, proposer and respondercan share a monetary reward. In both games the proposer suggests a rewarddistribution which the responder can accept or reject (yielding 0-payoffs). Thegames only differ in that the responder does (not) learn the suggested...

This paper examines simple parimutuel betting games under asymmetric information,with particular attention to differences between markets in which bets are submittedsimultaneously versus sequentially. In the simultaneous parimutuel betting market, all(symmetric and asymmetric) Bayesian-Nash...

A robust nding of repeated public goods experiments is that high initialcontribution rates sharply decline towards the end. This paper reports onan exploratory experiment designed to discover whether such a decline is simply triggered by the usual experimental practice of publicly informing...

This paper examines finite parimutuel betting games with asymmetric information, with particular attention to differences between sequential and simultaneous settings, and betweenfully rational and myopic ("price taking") behavior. In the simultaneous parimutuel market,all (symmetric and...

The common prior assumption asserts that the beliefs of agents in different states of theworld are their posteriors based on a common prior and possibly some private signal. Commonpriors are pervasive in most economic models of incomplete information, oligopoly models withasymmetrically informed...