The paper develops a dynamic general equilibrium model of financial markets<br/>and macroeconomy. In the model, long-term debt is extended to firms in a<br/>primary market and then traded in a secondary market among financiers. Two<br/>financial frictions that are ex-ante and ex-post with respect to the...

All over the world intelligence services are collecting data concerning possible terrorist threats. This information is usually transformed into network structures in which the nodes represent the individuals in the data set and the links possible connections between these individuals....

Kriging is a popular method for estimating the global optimum of a simulated system. Kriging approximates the input/output function of the simulation model. Kriging also estimates the variances of the predictions of outputs for input combinations not yet simulated. These predictions and their...

We provide a modeling framework to think about selective contracting in the health care sector. Two health care providers differ in quality and costs. When buying health insurance, consumers observe neither provider quality nor costs. We derive an equilibrium where health insurers signal...

Areeda and Turner (1975) were the first to argue that a price below marginal costs should be considered a sign of predation. Recognizing that marginal cost data were typically unavailable, the authors concluded that a price below average variable cost should be presumed unlawful. This socalled...

This paper introduces a method for computing the maximum volume inscribed ellipsoid and k-ball of a projected polytope. It is known that deriving an explicit description of a projected polytope is NP-hard. By using adjustable robust optimization techniques, we construct a computationally...

The Great Recession is characterized by a GDP-decline that was unprecedented in the past decades. This paper discusses the implications of the Great Recession analyzing labor market data from 20 OECD countries. Comparing the Great Recession with the 1980s recession it is concluded that there is...

We study financial contagion in an experimental market. There are two assets and an exogenous shock reduces the value of one of the two assets. Whether and how the other asset is affected depends on the correlation between the underlying values of the two assets. In some trials, the...

In this paper we study distributionally robust constraints on risk measures (such<br/>as standard deviation less the mean, Conditional Value-at-Risk, Entropic Value-at-Risk) of decision-dependent random variables. The uncertainty sets for the discrete probability distributions are defined using...

This paper studies the causes and consequences of in-season changes of the headcoach of association football teams. We exploit data from the highest level of<br/>Dutch professional football during 14 successive seasons. An in-season change of<br/>the head-coach depends on recent match results and the...