We develop an analysis of ex ante monitoring of risky projects in banking. If protected from competition, banks are more concerned about not catching good risk projects when the perceived state of the economy improves, while they are more concerned about being induced to finance bad risk...

Patent renewal studies reveal a highly rightward-skewed distribution of patent values. Our approach elicits valuations approximating those of the patented invention. This paper focuses on the full-term patents of the application year 1977 held by West German and U.S. residents. The tail of...

Während in letzter Zeit unter dem Schlagwort "Evaluitis" seitens der Wissenschaft vor allem die negativen Effekte von Evaluationen auf den Wissenschaftsbetrieb im Zentrum eines öffentlichen Diskurses standen, blieb die Frage nach dem spezifischen (Mehr-)Wert solcher Verfahren für die...