Rules are thought to persist to the extent that the direct benefits of having them (e.g. reducedtransactions costs) exceed the costs of enforcement and of occasional misapplications. We arguethat a second crucial role of rules is as screening mechanisms for identifying cooperative types.Thus we...

We examine so-called product-games. These are n-player stochatic games played on a product state space S(1)U…S(n), in which player i controls the transitions on S(i). For the general n-player case, we establish the existence of 0-equilibria. In addition, for the case of two-player zero-sum...

This paper uses a dynamic stochastic model to solve for the optimal pricing policy of themusic recording companies in the presence of P2P file-sharing networks eroding their CDsales. We employ a policy iteration algorithm on a discretized state space to numericallycompute the optimal price...

This paper analyses the eects of work-related training on worker productivity. To identify thecausal effects from training, we combine a field experiment that randomly assigns workers to treatmentand control groups with panel data on individual worker performance before and after training.We...

We consider non-cooperative multilateral bargaining games with endogenous bargaining protocols.Under an endogenous protocol, the probability with which a player becomes the proposer in a roundof bargaining depends on the identity of the player who previously rejected. An important exampleis the...

Women often receive lower wages than men for comparable work. Many explanations are offered for this fact, ranging from women’s lower negotiation skills to discrimination by employers. In this paper, an experiment, which was originally conceptualized to test efficiency-wage theory, has been...

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 paper is about some aspects of the interre-lationship of the Freiburg School and the Austrian School. The relationships between these schools will be discussed in the field of econo-mic theory and economic policy. No attention will be paid to the similarities and differen-ces in the field...

Outsourcing seems to have become the new trend in organizational strategy. In outsourcing, part of the organization’s production or service process is discontinued and transferred to another party, along with personnel and other resources. Although the potential economic benefits of...

De vraag naar creatieve of innovatieve projecten voor een vernieuwd economisch beleid wordt steeds groter. De voorliggende nota is vernieuwend zowel op theoretisch als op beleidsmatig vlak. Op theoretisch vlak is het vernieuwend omdat het een groep sectoren verbindt die niet binnen het begrip...