Showing 1 - 10 of 197
We identify a strong and significant negative effect of substitutions in (irrelevant) early games in worldcup and olympic football tournaments on performance in later rounds. We argue that this effect is due to the psychological consequences of such a decision and evaluate alternative possible...
Persistent link: https://www.econbiz.de/10005036256
This paper studies the dynamic relationship between input and output of innovation inDutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with...
Persistent link: https://www.econbiz.de/10005036257
We show that the invariant method (Pinski and Narin, 1976), recently axiomatised by Palacios-Huerta and Volij (2004), and used to quality-rank academic journals is subject to manipulation: a journal can boost its performance by making additional citations to other journals.
Persistent link: https://www.econbiz.de/10005795841
In this paper we develop a model to describe a firm’s demand for two production factors which is subject to the presence of nonconvex adjustment costs. In our model simultaneous adjustment of these two production factors may either increase or decrease the total costs incurred by the firm. The...
Persistent link: https://www.econbiz.de/10005795858
We introduce and study a unified reasoning process which allows to represent the beliefs of both a fully rational agent and of an unaware one. This reasoning process provides natural properties to introspection and unawareness. The corresponding model for the rational or boundedly rational...
Persistent link: https://www.econbiz.de/10008540704
The present paper extends the standard model of pairwise communication among Bayesianagents to cases where the structure of the communication protocol is not commonly known.We show that, even under strict conditions on the structure of the protocols and the nature of the transmitted signals, a...
Persistent link: https://www.econbiz.de/10008540708
We introduce a new class of bankruptcy problems in which the value of the estate is endogenous and depends on agents'' investment decisions. There are two investment alternatives: investing in a company and becoming a shareholder (risky asset) and depositing money into a savings account...
Persistent link: https://www.econbiz.de/10008494045
Bloch (1996) presents a novel method to solve cooperative games with externalities. When trying to relate this to classical approaches he could only present negative results. We elaborate on these problems, define a modification of Bloch''s model and show that its order-independent equilibria...
Persistent link: https://www.econbiz.de/10005209861
By distinguishing between discretionary and non-discretionary fiscal policy, this paper analyses the stability of fiscal rules for EMU countries before and after the Maastricht Treaty. Using both Instrumental Variables and GMM techniques, it turns out that discretionary fiscal policy has...
Persistent link: https://www.econbiz.de/10005209866
This paper investigates the state, development and drivers of banking market integration in the member countries of the Southern African Development Community (SADC) by employing interest rate data. We first conduct a principal component analysis and find evidence for both increasing monetary...
Persistent link: https://www.econbiz.de/10005209870