It's puzzling that most projects fail to complete within the predetermined timeframe given that timing considerations rank among the major goals in project management. We argue that when managers can extract private benefits from working on a project, project delay becomes optimal. We introduce...

I analyze the long-term labor market returns after completing a higher education entrance (HEE) qualification as a qualified worker older than age 20 (Zweiter Bildungsweg), using data of the German National Educational Panel Study (NEPS). I use a Mincer-type equation, where the school-leaving...

This paper discusses the central macroeconomic claims that are made in Thomas Piketty's book 'Capital in the Twenty-first Century'. The paper aims to show that Piketty's contentions are not only logically flawed but also contradicted by his own data.