Cooperatively-owned Raiffeisen banks first emerged in the Netherlands in the late 1890s and spread rapidly across the country. Using a new dataset, we investigate the determinants of their market entry and early performance. We find that the cooperative organisational form, when allied to a...

When decision-makers overemphasize salient features under limited attention, biased decisions can result in settings in which decisions should be unbiased. We exploit a sudden shock in the salience of individuals of Moroccan descent in the Netherlands to test the vulnerability of decisions of...