This article describes the benefits and pitfalls of starting a firm with an entrepreneurial team, drawing on a longitudinal empirical analysis of the life course of 90 team start-ups and 1196 solo start-ups in the Netherlands. In the first three years of their existence, team start-ups perform...

In this paper we study the robustness of the deadline effect in bargaininggames using constant and slowly decreasing pies, different time horizons,and both constant and alternating role modes. With decreasing pies efficiency requires early agreements while constant pies allow for efficient late...

In the recent theoretical literature on lending risk, the coordination problem in multi-creditor relationships have been analyzed extensively. We address this topic empirically, relying on a unique panel data set that includes detailed credit-file information on distressed lending relationships...

The trends and consequences of terrorist activities are often captured bycounting the number of incidents and casualties. More recently, the effects of terroristacts on various aspects of the economy have been analyzed. These costs aresurveyed and put in perspective. As economic consequences are...

We consider a two-person Cournot game of voluntary contributions to a public good with identicalindividual preferences, and examine equilibrium aggregate welfare under a separable, symmetric andconcave social welfare function. Assuming the public good is pure, Itaya, de Meza and Myles...

This paper argues that corruption patterns are endogenous to political structures. Thus, corruption can be systemic and planned rather than decentralized and coincidental. In an economic system without law or property rights, a kleptocratic state may arise as a predatory hierarchy from a state...