The Internet revolution has led to significant changes in the way travel agencies interact with customers. Travel websites are used to different degrees, and for a variety of combinations of pre-transaction, transaction and post-transaction services. A better understanding of how customers...

This paper explores how decentralized, national fiscal policies interact with a common monetary policy in a monetary union. We show that fiscal policy plays a more important role in stabilizing country-specific shocks than with national monetary policies. Whereas monetary unification with an...

In the infinite horizon alternating price setting duopoly of Maskin and Tirole (1988), a focal price equilibrium and an equilibrium consisting of Edgeworth cycles coexist. In this study we investigate which of these two equilibria is more likely to emerge by means of a laboratory experiment. In...

We consider parallel, identical machine scheduling problems where the jobs are subject to precedence constraints, release dates, and the processing times of jobs are governed by independent probability distributions. The objective is to minimize the expected value of the total weighted...

“Steer the economy” is an interactive game that shows the relationship between company decisions and macroeconomic dynamics. In this real time computer network simulation game the interaction between the players determines the macroeconomic results and players see within a short period the...

Economic models describe individuals in terms of underlying characteristics, such as taste for some good, sympathy level for another player, time discount rate, risk attitude, and so on. In real life, such characteristics change through experiences: taste for Mozart changes through listening to...

We propose a new concept, the pairwise farsightedly stable set, in order to predict which networks may be formed among farsighted players. A set of networks G is pairwise farsightedly stable (i) if all possible pairwise deviations from any network g ∈ G to a network outside G are deterred by...

We document the importance of negatively reciprocal inclinations in labor relationships by showingthat a retrenchment of pension rights, which is perceived as unfair, causes a larger reduction injob motivation the stronger workers’ negatively reciprocal inclinations are. We exploit...

A number of recent empirical studies of firm-level productivity (growth) have been concerned with establishing potential complementarity between multiple organizational design practices. These papers have drawn conclusions on basis of the effect of the interaction term between each possible pair...

Bureaucratie en bureaucratisering zijn verschijnselen waardoor zowel moderne overheidsorganisaties als moderne ondernemingen worden geplaagd. Aan de bureaucratische organisatievorm kleven zowel voordelen als nadelen. De nadelen ervan worden in de moderne samenleving echter steeds groter. In dit...