Significant changes in climate are already visible globally, and are expected to become more pronounced in the future. These will lead to wide ranging impacts on the natural and man-made environment across different sectors and regions, which in turn will lead to economic costs. These economic...

Using a matched firm-worker dataset, we show both theoretically and empirically that positiveassortative matching between firms...

Drawing from advances in Organisation Studies and recent debates within Economic Sociology and the Sociology of Financial Markets, this paper proposes a theoretical framework that characterises the mutual adaptation between formal routines, rules and actual performances as iterative cycles of...

A dynamic labor matching economy is presented, in which the unemployed are either entitledto unemployment insurance (UI) or unemployment assistance (UA), and the employees areeither eligible for UI or UA upon future separations. Eligibility for UI requires a minimumduration of contributions and...

We explore the idea of public policy from the perspective of evolutionary thinking. Thisinvolves paying attention to concepts like diversity, population, selection, innovation,coevolution, group selection, path-dependence and lock-in. We critically discuss the notion ofevolutionary progress. The...

A framework is proposed for organizing phenomena related to the (mis)predictionof utility, in particular neglecting adaptation. A categorization is introduced that accounts forasymmetries in misprediction. In decision-making, goods and activities satisfying extrinsicdesires are more salient than...

This paper investigates the determinants of Swiss non-financial firms’ cash holdings overthe 1995 to 2004 period. The median Swiss firm holds almost twice as much cash andcash equivalents as the median UK or US firm. Our results indicate that there is a negativerelationship between asset...

This paper investigates the determinants of a broad sample of Swiss non-financial firms’cash holdings between 1995 and 2004. The median Swiss firm holds almost twice asmuch cash and cash equivalents as the median U.S. or U.K. firm. Our results indicate thatasset tangibility and firm size are...

Neoclassical economic theory rules out systematic errors in consumptionchoice. According to the basic view, individuals know what they choose. They areable to predict how much utility an activity or a good produces for them now and inthe future and they can maximize their utility. This implies...