Empirical studies reject uncovered interest parity. Experimental and survey data studies reject rational expectations and find evidence of adaptive, regressive, bandwagon and distributed lag expectations. In this paper we investigate how these two findings are related. We show that uncovered...

We consider machine scheduling problems where jobs have to be processed on unrelated parallel machines in order to minimize the schedule makespan. The processing time of any job is dependent on the usage of a scarce resource that can be distributed over the jobs in process. The more of that...

This note argues that large VAR models with common cyclical feature restrictions provide an attractive framework for parsimonious implied univariate final equations, justifying on the one hand the estimation of homogenous panels with dynamic heterogeneity and a common factor structure, and on...

In this paper we present a new auction, the bisection auction, that can be used for the sale of a single indivisible object. We discuss the issue concerning the information revelation requirement of this auction and the associated amount of data that needs to be transmitted. We show that in the...

We show that for any roommate market the set of stochastically stable matchings coincideswith the set of absorbing matchings. This implies that whenever the core is non-empty (e.g.,for marriage markets), a matching is in the core if and only if it is stochastically stable, i.e., stochastic...

We experimentally investigate if theoretically superior non-monotonic repayment contracts yield superior results in the laboratory. We find replacing standard debt contracts with repayment-equivalent non-monotonic contracts increases entrepreneurial income by 170% and total surplus by 30%.

In this paper, I derive three general performance measure characteristics from the literature that are theoretically related to the use of performance measures, i.e., (1) the impact that a manager has on performance (sensitivity), (2) the impact that uncontrollable factors have on performance...

Problem-based learning is rather labor intensive for teaching staff. In addition, the problem-based structure does not work always optimally in practice. Brainstorming during pre-discussion of tasks becomes very superficial, preparation of the students is far from optimal, and post-discussion is...

The Colleges (Dutch: Hogescholen) have gained an important position in the knowledge infrastructure. In 1999, the number of enrolled College students increased to nearly 300,000 and the number of College graduates to more than 50,000. Since the nineties, the higher education policy is...

We develop a model that allows for a comparison of corporate leniency programs for cartel behavior as enacted e.g. in the USA and the EU. Although all programs are based on the idea that the ex ante expected fine can be increased by granting fine reductions for self-reporting firms, these...