The Dutch mandatory pension system consists of two parts; a collective pay-as-you-go part which provides a minimum income to all Dutch inhabitants over age 64, and an occupation specific capital funded part which provides supplementary retirement income. Although the discretionary household...

The paper puts forward the proposition that large corporations should be treated as financial institutions in their own right, as they use available earning from some activities to finance others, including new developments. With this view, it is suggested that the role of the financial system...

Sick pay is a common provision in most labor contracts. This paper employs an experimental gift-exchange environment to explore two related questions using both managers and undergraduates as subjects. First, do workers reciprocate sick pay in the same way as they reciprocate wage payments?...

This paper describes the German public old age social security program ("Gesetzliche Rentenversicherung") and its incentive effects on retirement decisions. The paper presents the key features of the system and expresses retirement incentives in form of accrual rates of social security wealth...

This paper deals with the problem of inter-organizational learning and the integration of specialized knowledge in cooperations. It is based on an empirical investigation of cooperative software development projects. The central research question analyzed here asks what kind of “learning...

We provide a set of simple and intuitive axioms that allow for a direct and constructive proof of the Choquet Expected Utility representation for decision making under uncertainty.

Several theoretical approaches assume that the motive for status maintenance, that is the desire to avoid intergenerational status downward mobility, explains educational decisions and effects of the families’ social status hereon. Not much is known about whether this assumption is empirically...

The relationship between our general equilibrium model with multi- member households and club models with multiple private goods is investigated. The main distinction in the definitions consists of the equilibrium concepts. As a rule, competitive equilibria among households where no group of...

In psychological and economic experiments, systematic deviations from rationality - so-called biases - have been observed. Such biases were also researched extensively in the auditing research in the US. The goal of this paper is to give an overview of this research and to show possible research...