Most empirical studies of savings behaviour that explicitly take account of the influence of uncertainty consider for identiï¬cation data that describe the evolution of circumstances observed during an appreciable period of the life-course. Here we report results obtained for a dynamic...

  Whether it is better to adopt voice or exit depends on the  nature of the transaction for both  parties. The strongest voice-sustaining equilibrium is where both parties see voice as preferable to  exit. This is likely where both parties have substantial sunk costs. In other circumstances,...

  This study considers the efficacy of a tax incentivised savings scheme in context of decision making rigidities. Analysis is based on a classical life-cycle model of savings and investment decisions, augmented with a salience cost over participation in Individual Savings Accounts (ISAs)...

  Abstract A surprisingly small number of innovative firms use the patent system. In the UK, the share of firms patenting among those reporting that they have innovated is about 4%. Survey data from the same firms support the idea that they do not consider patents or other forms of registered...

  This paper describes a structural dynamic microsimulation model that generates individualspeciï¬c data over a range of demographic and economic characteristics at annual intervals overthe life-course. The model is speciï¬cally designed to analyse the distributional implications of policy...

  CEO incentive contracts are commonplace in China but their incidence varies significantly across Chinese cities. We show that city and provincial policy experiments help explain this variance. We examine the role of two policy experiments: the use of Special Economic Zones (SEZs) to attract...

  This report analyses whether entry of UK enterprises into patenting in a technology area is affected by patent thickets in the technology area. The aim is to contribute to our understanding of the role of patent thickets as a barrier to entry into patenting for UK enterprises, in particular...

The links between unionisation and job satisfaction remain controversial. In keeping with the existing literature we find strong statistically significant negative correlations between unionisation and overall job satisfaction. However, in contrast to the previous literature we find that once...

In a recent article Gneiting, Balabdaoui and Raftery (JRSSB, 2007) propose the criterion of sharpness for the evaluation of predictive distributions or density forecasts. They motivate their proposal by an example in which standard evaluation procedures based on probability integral transforms...