We identify a strong and significant negative effect of substitutions in (irrelevant) early games in worldcup and olympic football tournaments on performance in later rounds. We argue that this effect is due to the psychological consequences of such a decision and evaluate alternative possible...

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...

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 propose a new class of voting rules, called Size Approval Voting. According to this rule, the effective weight of a vote from a given individual depends on how many other alternatives the very same individual votes for. In particular, weights are assumed to be non-negative and weakly...

ANWB, the Dutch automobile association, provides assistance, car repair andreplacement services to its nearly 4 million members. ANWB services around 1.3 millionrequests per year in The Netherlands. Historically, the operational planning process ofassigning requests to service men was regionally...

We present sucient conditions for the implementation of the (pessimistic) recursive core (Kóczy, 2007) in discrete partition function form games using a modified version of the sequential coalition formation game by Bloch (1996) extending the results of Kóczy (2008) and - in a slightly...

Recent empirical work shows that ongoing international financial integration facilitatescross-country consumption risk sharing. While these studies employ absolute measures toaccount for a country''s integration in international capital markets, we devise a relativemeasure that captures the...

The Least-Squares Monte Carlo model (LSM model) has emerged as the derivative valuation technique with the greatest impact in current practice. As with other options valuation models, the LSM algorithm was initially posited in the field of financial derivatives and its extension to the realm of...

The article is essentially a book-review of Professor Vijay Joshi's recent work, '"India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a 'typical'book review. For example, the length of this article goes well-beyond the...

This extended abstract shows the importance of human intuition in the context of creating new knowledge. In particular, inspirational intuition plays an important role. In contrast to Daniel Kahneman's fast, intuitive and routine decision-making in terms of a System 1 (Kahneman 2011, pp. 19...