This paper addresses a complex of globalization issues: the effect of globalization on the skill premium; the effect of globalization on unemployment; the relative importance of globalization and exogenous technical change; the effect of globalization on the ability of national governments to...

This is an experimental study of a three-player power-to-take game where a take authority is matched with two responders. The game consists of two stages. In the first stage, the take authority decides how much of the endowment of each responder that is left after the second stage will be...

We formulate a simple model of optimal defensive disclosure by a monopolist facinguncertain antitrust enforcement and test its implications using unique data on defensivedisclosures and patents by IBM during 1955-1989. Our results indicate that strongerantitrust enforcement leads to more...

Disentangling age, period, and cohort effects in explaining health trends is crucial to assess future prevalences of health disorders. The identification problem -- age, period, and cohort effects are perfectly linearly related -- is tackled by modeling cohort and period effects using lifetime...

In many organizations, reward decisions depend on subjective performance evaluations. However, evaluating an employee's performance is often difficult. In this paper, we develop a model in which the employee is uncertain about his own performance and about the manager's ability to assess him....

We investigate whether risk seeking or non-concave utility functions can help to explain the cross-sectional pattern0 of stock returns. For this purpose, we analyze the stochastic dominance efficiency classification of the value-weighted market portfolio relative to benchmark portfolios based on...

This discussion paper resulted in a publication in <A HREF="http://people.few.eur.nl/vanderzwan/articles/Regional%20Studies%20Ladder%20Europe%20US.pdf">'Regional Studies'</A>, 2013, Volume 47, issue 5, pages 803-825.<P> We investigate which countries have the highest potential to achieve entrepreneurial progress. This progress is defined using an entrepreneurial ladder with five successive steps:...</p></a>

This paper investigates the relation between human capital andretirement when the age of retirement is endogenous. This relation isexamined in a life-cycle earnings model. An employee works full timeuntil retirement. The worker accumulates human capital by training-on-the-job and by...

In this paper we demonstrate that intra-industry trade (or FDI)between identical countries could produce theobserved deterioration in the relative wages of unskilled workers.This involves a model of North-Northintegration through either increased trade flows or increased MNE-based production....

This paper applies the dichotomous theory of choice by Zou (2000a) tothe analysis of investmentstrategies and security markets. Issues concerning individualoptimality, (approximate) arbitrage,capital market equilibrium, and Pareto efficiency are studied undervarious market conditions. Among the...