This discussion paper has resulted in the publication (2007) 'Order without law? Experimental evidence on voluntary cooperation and sanctioning', 2007, KritV - Kritische Vierteljahresschrift fur Gesetzgebung und Rechtswissenschaft, 90, 1-2, 140-155.In this paper we discuss experimental evidence...

Science is a winner-take-all profession in which only few contributions get excessive attention and the large majority of papers_new remains receives scant or no attention. This so-called ‘waste’ together with all the competitive strategies of scientists seeking attention is part and parcel...

In this paper the efficient allocation of natural recreational areasis analysed. Natural recreational areas have the features of publicgoods. We present the efficient allocation of this non-excludablepublic good in a rational general equilibrium model withheterogeneous agents. This allows us to...

The formation of social ties is examined in an experimental study of voluntary public good provision. The experiment consists of three parts. In the first part the value orientation (attitude to a generalized other) is measured. In the second part couples play 25 periods of a public good game....

The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma. Our findings for...

To stimulate companies to take corporate social responsibility collectively, for example for fair trade or the environment, their agreements may be exempted from cartel law. To qualify, the public benefits must compensate consumers for higher prices of the private good. We study the balancing...

This paper analyzes enhanced cooperation agreements in corporate taxation in a three country tax competition model where countries differ in size. We characterize equilibrium tax rates and the optimal tax responses due to the formation of an enhanced cooperation agreement. Conditions for...

This paper applies the Hafner and Herwartz (2006) (hereafter HH) approach to the analysis of multivariate GARCH models using volatility impulse response analysis. The data set features ten years of daily returns series for the New York Stock Exchange Index and the FTSE 100 index from the London...