We introduce the idea that informational cascades can explain the observed regularity that emigrants from the same locations also tend to choose the same foreign locations. Thus informational cascades generate herd behavior. Herd behavior is compared with the network externalities explanation of...

Interest rates on consumer lending are lower when funds are tied to purchase of a durable good than when they are made available on an unconditional basis. Further, dealers often choose to bear the financial cost of their customers? credit purchases. This paper interprets this phenomenon in...

In this paper we derive an explicit model of negotiations between spouses when utility is (partially) transferable only in case of separation. We show that inefficient separation may occur in equilibrium even under consensual divorce law. This provides theoretical support for the view that...

Based on the ideas developed in the literature on the evaluation of active labor market policy, this paper provides a framework for the evaluation of key elements of immigration policy. To this end, the fundamental ingredients of evaluating policy interventions are explained and the specific...

In 1990 Colombia replaced its traditional system of severance payments with a new system of severance payments savings accounts (SPSAs). Although severance payments often are justified on the grounds that they provide insurance against earnings loss, they also increase costs for employers and...

Economic models of household behavior typically yield the prediction that increases in schooling levels and wage rates of married women lead to increases in their labor supply and reductions in fertility. In Italy, as well as in other Southern European countries, low labor market participation...

We analyze the impact of three different transfer fee systems on payoffs, contract lengths, training and effort incentives in European football. The different regimes, being used until 1995 (?Pre-Bosman? or P), currently in use (?Bosman? or B), and recently approved (?Monti? or M) differ with...

In many kinds of bilateral negotiations the resolution of the issues at stake has an impact which extends beyond the remits of the parties directly involved (e.g. labour negotiations in sectors of public interest, where a strike would impact on the public at large). Once this is recognised,...

Das anhaltend hohe Siedlungsflächenwachstum stellt die Raumplanungsebenen in Deutschland vor die Notwendigkeit, sich stärker am Ziel der Begrenzung des ?Flächenverbrauchs? zu orientieren. In diesem Zusammenhang gibt es nun Überlegungen, das traditionell ordnungsrechtliche Instrumentarium der...