Many service companies active in high tech sectors have implemented largely decentralized decision architectures in their innovation processes. This is done to improve responsiveness under extremely dynamic and uncertain business conditions. As a consequence of the empowerment of decision-makers...

The scope for optimal international coordination of indirect taxes is examined in a macroeconomic game-theoretic framework which encompasses two regionally integrated economies, which have a single goods market. In each country there are tax-financed non-tradeable public goods, while labor is...

In this paper we propose a bootstrap version of the Wald test for cointegration in a single-equation conditional error correction model. The multivariate sieve bootstrap is used to deal with dependence in the series. We show that the introduced bootstrap test is asymptotically valid.We also...

We study the role of monotonicity in the characterization of incentive compatible allocation rules when types are multi-dimensional, the mechanism designer may use monetary transfers, and agents have quasi-linear preferences over outcomes and transfers. It is well-known that monotonicity of the...

Based on the Expectancy Disconfirmation Model as the underlying construct, methods to measure customer satisfaction with products and the steps to be undertaken in the research process are investigated. The measurement of Derived Satisfaction using (dis)confirmation was identified to be the...

Domains of individual preferences for which the well-known impossibility theorems of Gibbard-Satterthwaite and Muller-Satterthwaite do not hold are studied. To comprehend the limitations these results imply for social choice rules, we search for the largest domains that are possible. Here, we...

In practice we often face the problem of assigning indivisible objects (e.g., schools, housing, jobs, offices) to agents (e.g., students, homeless, workers, professors) when monetary compensations are not possible. We show that a rule that satisfies consistency, strategy-proofness, and...

In 2002 regular online assessment was introduced as one of the pillars of an improved course in economics for business students. These online tests were introduced in the context of the problem-based teaching format used at Universiteit Maastricht, where students work in small groups guided by...

Coordination failures constitute an alternative explanation for underemployment that complements the Keynesian and neo-classical views. The paper proposes to distinguish three classes of models with coordination failures. The classes are formed by strategic models with or without a coordinating...

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...