A wide variety of market institutions exist in the field and on the Internet. Examples are English auctions and two-sided marketplaces like the double auction where both buyers and sellers initiate prices. This paper investigates how the emergence of (different) market institutions is shaped by...

We analyse voter turnout as a function of referendum types. An advisory referendum produces advice that a legislature may or may not take into account when choosing between two alternatives, whereas a binding referendum generates a decisive decision. In theory, voter turnout should be higher...

The Duhem-Quine thesis asserts that any empirical evaluation of a theory is in fact a composite test of several interconnected hypotheses. Recalcitrant evidence signals falsity within the conjunction of hypotheses, but logic alone cannot pinpoint the individual element(s) inside the theoretical...