Global accountability is commonly understood as a contractual mechanism between principals and agents where standards of behavior are objective and respond to functional needs, agents are autonomous, motivations are self-interested and practices are procedural. This paper theorizes an...

Financial contagion is modeled as an equilibrium phenomenon in a dynamic setting with incomplete information and multiple banks. The equilibrium probability of bank failure is uniquely determined. We explore how the cross holding of deposits motivated by imperfectly correlated regional liquidity...

Assessing the value of new medical technologies may require new approaches that take into account a more comprehensive set of parameters than the incremental cost/QALY. It is argued that MCDA can fulfil this role and has the potential to be methodologically superior to the currently used...

CEP's global survey of over 4,000 firms reveals huge variations in the quality of management practices

Using data from the European Labour Force Survey, the characteristics of individuals who receive vocational training is compared in six European countries; Germany, France, the Netherlands, Portugal, Sweden and the UK. As well as the incidence of training, the intensity is also considered. In...

In both schools and homes, information and communication technologies (ICT) are widely seen as enhancing learning, this hope fuelling their rapid diffusion and adoption throughout developed societies. But they are not yet so embedded in the social practices of everyday life as to be taken for...

In a model of career concerns for experts, when is a principal hurt from observing more information about her agent? This paper introduces a distinction between information on the consequence of the agent's action and information directly on the agent's action. When the latter kind of...

In this paper I analyze the effect of the transparency of the decision making process in committees on the decisions that are eventually taken. I focus on committees whose members are motivated by career concerns, so that each member tries to enhance his own reputation. When the decision making...

In this paper I give an impressionistic account of the situation in Russia in September 1994 and its implications for Western aid priorities. Considering the starting point, the progress of the reform has been remarkable. In the paper I discuss it under the three traditional headings:...

We study the impact of import protection on relationship-specific investments, organizational choice and welfare. We show that a tariff on intermediate inputs can improve social welfare through mitigating hold-up problems. It does so if it discriminates in favor of the investing party, thereby...