The method of elicitation has an important effect on valuations. We investigate the effect of perspective on decision makers' elicited values. We conduct experimental sessions in which participants act as sellers or buyers, and replicate the disparity between willingness to accept and...

This paper develops a new approach to change-point modelling that allows the number of change-points in the observed sample to be unknown. The model we develop assumes that regime durations have a Poisson distribution. It approximately nests the two most common approaches: the time-varying...

In recent years we have seen major advances in economic geography theory, but only limited empirical analysis. This paper focuses on a spatial econometric modelling approach, informed by recent theoretical advances, to simulate possible economic geographies of the European Union. In the paper I...

This paper tests two major competing theories explaining the spatial concentration of economic activity, namely new economic geography theory (NEG) which emphasizes varying market potential, and urban economics theory (UE) in which the main emphasis is on producer service linkages. Using wage...

A popular account for the demise of the UK monetary targeting regime in the 1980s blames the weak predictive relationships between broad money and inflation and real output. In this paper, we investigate these relationships using a variety of monetary aggregates which were used as intermediate...

This paper reports the findings of a study, which employed a contingency, export-entrepreneurial approach to investigate the critical influences on export venture creation among a sample of Nigerian small firms. Responding to the repeated calls in the literature for multi-disciplinary research...

There is a general presumption that competition is a good thing. In this paper we show that competition in the insurance markets can be bad when there is adverse selection. Using the dual theory of choice under risk, we are able to fully characterize both the competitive and the monopoly market...

Grounded theory is examined as a means of undertaking economics research that aims at theoretical development and generalization rather than testing established theories. Grounded theory encompasses a set of procedures for undertaking and analysing case studies-qualitative and quantitative-in a...

This paper develops an explanation of how large business organisations may achieve advantages of size by virtue of decision-making procedures. The argument is inspired by Knight's (Risk, Uncertainty and Profit, NewYork: Houghton Mifflin, 1921) model of internal business organisation, together...

There is a general presumption that competition is a good thing. In this paper we show that competition in the insurance markets can be bad and that adverse selection is in general worse under competition than under monopoly. The reason is that monopoly can exploit its market power to relax...