In many industries, the number of firms evolves non-monotonically over time. A phase of rapid entry is followed by an industry shakeout: a large number of firms exit within a short period. We present a simple timing game of entry and exit with an exogenous technological process governing firm...

Die Entwicklung neuer Ansätze zur Förderung lebenslangen Lernens stellt eine der zentralen Herausforderungen an die empirische Erziehungswissenschaft dar. Es besteht ein Bedarf an Methoden, die sowohl individuelles als auch Gruppenlernen unterstützen, die der wachsenden Internationalisierung...

There are too many different perspectives in strategic decision-making process within the literature. The rational normative model suggests that organizations, first, based on internal and external analysis determine some objective criteria to achieve value-maximization, and then based on those...

This paper employs a life-cycle model of consumption and saving to study risk premia in CEO compensation, and compares them to variation in observed pay levels. The model incorporates the main types of risk to income and savings that executives of public corporations typically face: option- and...