This paper takes a close look at the 'behavioural finance' explanations of the equity premium puzzle, namely myopic loss aversion (Benartzi and Thaler, 1995) and disappointment aversion (Ang, Bekaert and Liu, 2000). The paper proposes a simple specification of loss and disappointment aversion...

The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact on the economies of member countries in the past decade. In particular, several studies indicate that the proceeding economic integration among euro area countries has important...

This paper presents an overview of administrative culture and practices for EPI in Europe, and investigates some of the main management styles used. It reviews institutional structures and practices in the EU-25, the candidate and applicant countries, the countries of the European Free Trade...

This paper presents an overview of administrative culture and practices for EPI in Europe, and investigates some of the main management styles used. It reviews institutional structures and practices in the EU-25, the candidate and applicant countries, the countries of the European Free Trade...

This report presents an assessment of the main and most recent developments in the use of market-based instruments in European environmental policy. The report covers a range of instruments which are used as tools to achieve environmental objectives. These instruments include: environmental...

This report presents an assessment of the main and most recent developments in the use of market-based instruments in European environmental policy. The report covers a range of instruments which are used as tools to achieve environmental objectives. These instruments include: environmental...

Summary report of the conference held on 27-29 September 2007, Ljubljana, Slovenia. This report was prepared by the organisers of the conference 'Time for action — towards sustainable consumption and production in Europe'. Three sets of three top-priority recommendations towards sustainable...