We propose an easily computable measure called the Major Complexity Index (MCI) that captures the latent skills taught in different majors. By applying the Method of Reflections to the major-to-occupation network, we construct a scalar measure of the relative complexity of majors. Our measure...

We develop a model of college major selection in an environment where firms and students have incomplete information about the student's aptitude. Students must choose from a continuum of majors which differ in their human capital production function and can act as a signal to the market....

In the last decades, technologies became more complex which increased the degree of uncertainty in R&D. To overcome the uncertainty, firms frequently engage in R&D collaborations, e.g., Research Joint Ventures (RJVs), and licensing agreements. While RJVs are well explored in the literature, very...

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger evaluations. Up to now, very little is known empirically about how mergers affect entry and exit, and the resulting number of firms in the markets. We empirically test this aspect of...

The aim of the study is to explain if the foreclosure effect on prices is explained by a lower quality of foreclosed houses, which is a crucial aspect in the intelligibility of foreclosures. Based on a novel and comprehensive dataset, we estimate the impact of foreclosure on home prices in...