The Electoral College has a measurable effect on the propensity of the rational voter to vote for the candidate he most prefers. The ‘slippage’ between the individual's articulated preference ordering and his actual vote is analyzed (using 1968 data) with respect to the strategic position of...

Burgess (1993) finds that job finding rates for the unemployed do not move proportionately to changes in the overall hiring rate. Burgess hints at employed job seekers that start looking in tight conditions and crowd out the unemployed. But he leaves the search behaviour of firms unaddressed....

Talent allocation models assume that entrepreneurial talent is selfish and thus allocates into unproductive or even destructive activities if these offer the highest private returns. This paper experimentally analyzes other-regarding preferences of entrepreneurial talent. We find that making a...

This paper presents a model of the life cycle that drives and is driven by R&D. In the model, firms have the option to improve their quality or to invest R&D resources in efficiency gains. Faced with this tradeoff, young firms opt for quality instead of efficiency improvements, whereas more...

This paper argues that recent trends in the global economy have led to a shift in developed countries’ comparative advantage from mature industrial to early stage entrepreneurial production. We develop a three stage product life cycle model in which we distinguish between life cycle...

Research on voting, particularly on legislative behavior, tends to focus on the choices of those casting ballots. Yet, intuitively, abstentions and vote choice should be jointly determined. As such, the relevance of participation depends upon both the extent to which it can be explained by the...

In this article we assume two levels of skills and two classes of goods, one produced with a technology requiring high skills, the other produced with a technology that can be operated by both low and high skilled workers. Our model generates two distinct labour market regimes. In one regime we...

Entrepreneurship is generally regarded as a productive force of change, innovation, and development in modern economies. Particularly for institutionally less developed environments, however, it has been argued that the same energy and talent can also be allocated to unproductive ends. In this...