The first paper is co-authored with Sylvain Delalay. We examine the impact of competition between ETFs on measures of market quality of the funds. The surge in new ETF creation has for consequence that groups of competing ETFs are increasingly crowded, and investors can choose from a multitude...

Zusammenfassung der Ergebnisse der Sitzung des Arbeitskreises Mittelstand der Friedrich-Ebert-Stiftung vom 16. Juni 2004

We find little support for the Schumpeterian hypothesis of a positiverelationship between market power and innovation in 1950’s Britain eventhough many economists and policymakers accepted it at the time. Pricefixingagreements were very widespread prior to the 1956 RestrictivePractices Act and...

Research has shown that idea competitions are apromising approach for integrating customers intoopen innovation activities. Furthermore research onopen innovation shows that most innovations are theresult of intensive collaboration processes in whichmany individuals contribute according to...

Im internationalen Vergleich liegt die Innovationstätigkeitvon deutschen Softwareunternehmen nicht auf Spitzenniveau. Arbeitsforschungkann hier als wichtiger Innovationstreiber fungieren. Im folgendenBeitrag wird als Beispiel hierfür das Forschungsprojekt...

Epistemic arguments play a significant role in Hayek’s defense of market liberalism. Hisclaim that market competition is a discovery procedure that serves the common good is acase in point. The hypothesis of the markets’ efficient use of existing knowledge issupplemented by the idea that...