Comparing air service growth in Amsterdam and Brussels, this paper aims to understand how the strategies of airlines and public authorities allow certain medium-sized cities to succeed in exceeding their local market by connecting passengers, while others do not. In contrast to Brussels,...

We consider the testable implications of the Cournot model of market competition. Our approach is nonparametric in the sense that we abstain from imposing any functional specification on market demand and firm cost functions. We derive necessary and sufficient conditions for (reduced form)...

This paper reviews the pattern of bank failures during the financial crisis and asks whether there was a link with corporate governance. It revisits the theory of bank governance and suggests a multi-constituency approach that emphasizes the role of weak creditors. The empirical evidence...

This paper focuses on cultural goods such as entertainment goods, especially theme parks. We have built a dataset regrouping the largest parks in Europe and looked at the relation between the costs and the quality of a theme park, thereby trying to estimate if a theme park deserves its...