A core problem in the area of revenue management is pricing goods in the presence of strategic customers. We study this problem when customers are heterogeneous with respect to their initial valuations for the item and their time sensitivities, i.e., the customers differ in both their initial...

We consider optimal asset allocation for a long-term investor saving for retirement. The investment portfolio consists of a bond index and a stock index. Using multi-period mean variance criteria, we explore two types of strategies: deterministic strategies are based only on the time remaining...

Institutions are an important means for fostering prosocial behaviors, but in many contexts their scope is limited and they govern only a subset of all socially desirable acts. We study experimentally how the presence and nature of an institution that enforces prosocial behavior in one domain...

We study the relation between income distribution and growth mediated by structural changes on the demand and supply side. Using results from a multi-sector growth model we compare two growth regimes which differ in three aspects: labour relations, competition, and consumption patterns. Regime...

This chapter explores the connection between the rule of law and economic performance. First, we analyze the role of interjurisdictional competition, and how the rule of law emerged as a by-product of this competitive process, initially in Western Europe. Second, we discuss the role of...

This paper provides an explanation for the observed decline of the exchange rate pass-through into import prices by modeling the effects of financial market integration on the optimal choice of the pricing currency in the context of rigid nominal goods prices. Contrary to previous literature, we...