We investigate the link between the propensity to become an entrepreneur and exogenous release from nancial constraints in Germany. This is de ned in terms of the movement from employment to self employment on receipt of a nancial windfall. A theoretical framework developing Evans and Jovanovic...

This paper explores the relationship between self-declared risk aversion of private investors and their willingness to hold diversified portfolios of financial assets. The analysis is based on household survey data from the German Socioeconomic Panel (SOEP) that provides a reliable measure of...

This article examines a dispute that attracted the attention of the Swedish media, concerning a group of freelance journalists who launched a magazine named Public Service, devoted to journalism and society reportage. However, after publication of the first issue, they discovered that not...

This paper treats the problem of estimating the inverse covariance matrix in an increasing dimension context. Specifically, three ridge-type estimators are considered, of which two new are proposed by the authors and one has been considered previously. Risk functions for deciding an appropriate...

We are well familiar with the economic analysis of a patent system in terms of a temporary monopoly on products, benefitting from marginal process inventions, formulated under conditions of certain future demands. This article develops an experimental and dynamic microeconomic model useful for...

This paper employs Porter’s diamond model to examine the relationships between a firm’s locational environment, its innovation capabilities, and competitive advantage assessed in terms of various performance indicators. This study implements a structural equation model that is estimated with...

The patent system makes organized markets in patents with transparent prices possible. Such prices are here investigated as “signals” for inventors and innovators alike of valuable “technology areas”, in an experimental study. They inform decisions of specialized “firms” on...

This study investigates the role of gender in individuals’ financial risk taking. We find that although females exhibit, on average, lower risk propensity than males, the effect of gender on the actual risk taking varies across countries and across types of financial decisions. Specifically,...

The question of how prices on patents rights should be determined in impersonal exchanges is examined in a laboratory environment. Dynamic gains from such organized trade with public prices are recorded. The experiment introduces a competitive market with impersonal exchange mechanisms and...

This article treats the problem of linking the relation between excess return and risk of financial assets when the returns follow a factor structure. The authors propose three different estimators and their consistencies are established in cases when the number of assets in the cross-section...