In this paper we present a generalization of the Shapley-Ichiishi result for convex games to the class of all exact games. Then we discuss two applications to the class of convex games. First we show that it can indeed be used to give an alternative proof of the Shapley-Ichiishi result. Secondly...

A state, for instance a health state, is characterized by a number of attributes to each of which a level is assigned. A specific collection of numerical values, for instance utilities, for all possible states is called a situation. The main purpose of the paper is to develop a class of methods...

Bargaining problems are considered where the preferences of the bargainers deviate from expected utility but can be modelled according to rank dependent utility theory. Under rank dependent utility two factors influence the risk attitude of a decision maker: the utility function and 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...

This note represents results about the extent of teaching the history of economic thought at German language based universities. At the time when cuts need to be made, many universi ties are thought of cutting non-essential courses first, of which the history of economic thought might be...

Bargaining problems are considered where the preferences of the bargainers deviate from expected utility but can be modelled according to rank dependent utility theory. Under rank dependent utility two factors influence the risk attitude of a decision maker: the utility function and the...

A method to allocate the benefits to the players of a cooperative game is the Shapley value. Its computation demands the knowledge of all coaltion worths with certainty. This paper introduces the expected Shapley value, an extension of the Shapley to games were not all the worths are known with...

Regional policy makers need regional economical data in order to define and backup their economical policy decisions. Regional input-output (IO) tables have proved to be useful in the policy making process, since the economic effects of policy decisions can be analysed in these models for the...

This paper develops and tests a model explaining diversity within top executive management teams from the perspective of selective turnover. We draw on two theoretical perspectives to describe the pull toward team homogenization (low diversity) and the push toward team heterogenization (high...

The Netherlands is well known for its high employment growth and corresponding low unemployment rate. At various occasions the so-called Dutch miracle has been applauded, together with the underlying ‘Polder model’. A feature that initially was less recognised in the international debate,...