We study a model of multilateral bargaining over social outcomes represented by points in the unit interval. An acceptance or rejection of a proposal is determined by a voting rule as represented by a collection of decisive coalitions. The focus of the paper is on the asymptotic behavior of...

In drawing on modern finance theory, this note demonstrates the importance of financial instruments for large public sector projects. An explicit link to the theory of Henry George is made, and a public sector financing approach is being demonstrated by using the example of the Oder floodings in...

The Colleges (Dutch: Hogescholen) have gained an important position in the knowledge infrastructure. In 1999, the number of enrolled College students increased to nearly 300,000 and the number of College graduates to more than 50,000. Since the nineties, the higher education policy is...

A common phenomenon in entrepreneurship is that employees turn away from employmentto found their own businesses. Prior literature discusses the former employers’characteristics that influence the creation of entrepreneurial ventures. An investigation ofwhether these characteristics also...

This paper examines the effect of tracking in secondary school on student performance and educational opportunities, taking into account whether prior performance is considered when students are selected in the different tracks. The sample consists of data from the Programme for International...

In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to understand how to play games of incomplete information under private values. The conclusions depend on whether players interact within a fixed set (fixed matching) or they are...

We combine the issues of dealing with variables sampled at mixed frequencies and the use ofreal-time data. In particular, the repeated observations forecasting (ROF) analysis of Stark andCroushore (2002) is extended to an autoregressive distributed lag setting in which the regressorsmay be...

We investigate the determinants of European banking market integration with a focus on the potentially limiting role of cultural and political factors. Employing a unique data set of European cross-border loans and deposits, the study uses various gravity models that are augmented by societal...

This paper argues that although current public pension schemes may shift the major financial burden to future generations, private and public transfers of wealth across generations offset this development. As a result the financing of existing social security and pension arrangements seems to...

This case focuses on the application of management accounting techniques such as linear programming and regression analysis in the framework of activity-based costing and the theory of constraints. Students are invited to transform technical production data (process map) into data that is...