Using Italian data, we estimate an option value model to quantify the effect of financial incentives on retirement choices. As far as we know, this is the first empirical study to estimate the conditional multiple-years model put forward by Stock and Wise (1990). This implies that we account for...

This paper develops a nonlinear econometric model of the determinants of capital flight for eighteen developing countries over the period 1978 to 1988. During most of the 1980s, capital flight proved difficult to reverse. Besides an uncertain domestic policy environment, costs associated with...

Time to build models of investment expenditures play an important role in many traditional and modern theories of the business cycle, especially for explaining the dynamic propagation of shocks. We estimate the structural parameters of a time-to-build model using firm-level investment data on...

We adopt an inter-generational approach to the public goods game where one generation of subjects leave advice for the succeeding generation via free form messages. Such advice can be private knowledge (advice left by one player in generation t is given only to her immediate successor in...

Using a unique dataset of art auctions on eBay, we conduct an empirical analysis of the value of a seller's online reputation. Several aspects distinguish our work from most existing research. We analyze a heterogeneous panel data consisting of a large number of observations over a large period...

In theory, innovation processes lie behind the evolution of national systems as they create interacting dynamics among organisations. Institutions and policies are considered means for influencing these interactive dynamics, such as shifting innovative focus from traditional to environmentally...

This paper considers a generalized panel data model of polychotomous and/or sequential switching which can also accommodate the dependence between unobserved effects and covariates in the model. We showcase our model using an empirical illustration in which we estimate scope economies for the...

We experimentally study a class of pie-sharing games with alternating roles in which the second (and final) stage of interaction follows the rules of a private impunity game, and occurs with a certain probability only if a first-stage agreement is not reached. A large number of participants play...

Computer and web-based interviewing tools have made response times ubiquitous in marketing research. These data are used as an indicator of data quality by practitioners, and of latent processes related to memory, attributes and decision making by academics. We investigate a Poisson race model...

A bivariate random effect panel data model is estimated for labor supply in the taxable and the nontaxable sectors in Denmark. The results show that wage rates and non-labor income have significant effects on labor supply in both sectors. For men, income taxes seem to twist the labor supply away...