Job training is an important subject for discussion, since the skills on which an economy depends are largely created by the process of training. Various theories, especially the human capital model, have focussed attention on skill aquisition through training as a central determinant of...

This paper examines the extent of state dependence in unemployment and the role played in this by intervening low-wage employment. A range of dynamic random and fixed effects estimators are compared. Low-wage employment is found to have almost as large an adverse effect as unemployment on future...

Although there exists a wealth of data relating to the British labour market, there are a number of important issues for which reliance has previously had to be placed on small surveys or case studies in order to form an option. Thus it has been known for some time that men and women cluster in...

Empirical work on strikes has tended primarily to concern itself with the strike incidence, with the recurring finding that strikes occur procyclically. Less attendion has been paid to strike duration and the cyclical fluctuations it might display, although a variety of theoretical models have...

One of the main differences between the labour market behaviour of men and women lies in the discontinuity of labour force attachment exhibited by most women over their lifetime - largely, but not exclusively, for the purpose of raising a family. These interruptions to their labour market...

This paper investigates the relation between firms’R&D incentives and their compatibility decisions regarding durable, imperfectly substitutable network goods in the presence of forward looking consumers. Non drastic product innovation is sequential and both an initially dominant firm and a...

Catastrophic risk, rare events, and black swans are phenomena that require special attention in normative decision theory. Several papers by Chichilnisky integrate them into a single framework with finitely additive subjective probabilities. Some precursors include: (i) following Jones-Lee...

This paper studies a principal-agent model of the relationship between officeholder and the electorate, where everyone is initially uninformed about the officeholder’s ability. If office-holder effort and ability interact in the determination of performance in office, then an office-holder has...

In general in organizations whose system of governance involves weighted majority voting, power and voting weight differ. Power indices are a value concept for majority voting games which provide a means of analyzing this difference. This paper provides new algorithms for computing the two...

It has long been recognised that one of the most important features of a production technology lies in its implications for managerial control over the production process. Amongst early writers, Charles Babbage observed : "One great advantage which we may derive from machinery is from the check...