A convenient way to find out how things are going is by taking a look at your neighbours. In this paper we develop a method for the evaluation of regional economic performance based on an input-output (IO) framework. Once we defined economic criteria for measuring this performance, such as real...

In this paper apriorism has been examined, the main-stream philosophy of economic science. An essential element in apriorism is the idea that the economist should always start his analysis from a hard, solid core of assumptions, in which he can have great confidence. Since most aprioristic...

In this paper, the relationship between technological change and employment is analysed using private consumption as a means to do so. Technological change will create new and more consumption opportunities by means of product and process innovation. This results in changes in consumption...

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro-economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting. The focus is on dynamic cooperative games in which the players face a finite sequence of exogenously specified TU-games. Three different core concepts are presented: the...

This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent’s risk aversion. We find that the use of both accounting and market performance measures in executive compensation contracts decreases as the...

Relationship management is becoming more important, also in direct marketing. Measuring the strength of relationships is relevant, since relationship strength can be used as a segmentation variable. However, in measuring relationship strength, mostly one or more behavioral indicators are used...

An allocation rule is called Bayes-Nash incentive compatible, if there exists a payment rule, such that truthful reports of agents’ types form a Bayes-Nash equilibrium in the directrevelation mechanism consisting of the allocation rule and the payment rule. This paperprovides characterizations...

In a single framework, I address the question of the informational basis for evaluating social states. I particularly focus on information about individual welfare, individual preferences and individual (moral) judgments, but the model is also open to any other informational input deemed...