An mehreren Orten in den USA entstanden in den vergangenen Jahrzehnten Zentren privater Forschungs- und Gründungsaktivitäten, von denen das Silicon Valley südlich von San Francisco wohl das bekannteste ist. Nahe der privat finanzierten Stanford University entstand ein Forschungs- und...

Professionalizing the system of control in a still public system implies that the university administration becomes an agent of the academic board of the university rather than serving the interests of the state as the principal. This induced organizational change alters the bargaining positions...

The analysis compares two institutional settings in which individuals with complementary task abilities match to found new firms: corporate spin-offs of initially randomly matched production teams and the rational matching of such teams in an incubator organization. The alternative always...

The paper develops a formal model of the optimal age-tenure structure in layoff decisions. Based on a linear Bayesian learning process a severance pay rule, which is derived from voluntary participation and separation conditions for individual workers, determines the dismissal costs. An optimal...

We analyze a standard employee selection model given two institutional constraints: First, professional experience perfectly substitutes insufficient formal education for insiders while this substitution is imperfect for outsiders. Second, in the latter case the respective substitution rate...