This study investigates the extent and speed of dynamic adjustment of labour supply to changes in labour demand, government policies and autonomous trends. We estimate error-correction models (ECMs) for male and female participation rates in the Netherlands between 1969 and 2004. The results...

Economic and social interaction takes place between individuals with heterogeneous characteristics. We investigate experimentally the emergence and informal enforcement of different contribution norms to a public good in homogeneous and different heterogeneous groups. When punishment is not...

We identify a strong and significant negative effect of substitutions in (irrelevant) early games in worldcup and olympic football tournaments on performance in later rounds. We argue that this effect is due to the psychological consequences of such a decision and evaluate alternative possible...

This paper studies the dynamic relationship between input and output of innovation inDutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with...

The paper studies the model of multilateral bargaining over the alternatives representedby points in the m–dimensional Euclidean space. Proposers are chosen randomly and the acceptance of a proposal requires the unanimous approval of it by all the players. The focus of the paper is on the...

This paper analyzes the empirical link between asset prices, consumption and the trade balance using a global macroeconometric model developed by Pesaran, Schuermann, and Weiner (2004). The model is estimated for 29 countries with quarterly data over the period 1981Q1 - 2006Q4. Motivated by...

This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting. The focus is on dynamic cooperative games in which the players face a finite sequence of exogenously specified TU-games. Three different core concepts are presented: the...

This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent’s risk aversion. We find that the use of both accounting and market performance measures in executive compensation contracts decreases as the...

Relationship management is becoming more important, also in direct marketing. Measuring the strength of relationships is relevant, since relationship strength can be used as a segmentation variable. However, in measuring relationship strength, mostly one or more behavioral indicators are used...

An allocation rule is called Bayes-Nash incentive compatible, if there exists a payment rule, such that truthful reports of agents’ types form a Bayes-Nash equilibrium in the directrevelation mechanism consisting of the allocation rule and the payment rule. This paperprovides characterizations...