For the Euro 2000 Soccer Championships an experimental asset market was conducted, with traders buying and selling contracts on the winners of individual matches. Market-generated probabilites are compared to professional bet quotas, and factors that are responsible for the quality of the market...

This paper discusses a two-sector neoclassical overlapping generationseconomy with intermediate and final goods in the spirit of Romer(1990). The risk averse agents engage in one of two alternative occupations:either firm-ownership in the intermediate goods sector, characterizedby monopolistic...

This paper investigates the effects of monopolistic competition onentrepreneurial riskRtaking in a general equilibrium model. In thiscontext, occupational choice of risk averse agents is biased towardsfirm ownership. In this case, the inefficiencies due to the presence ofnondiversifiable risk...

Substantial efforts have contributed to overcome the scarcity of research on hidden champions. Nevertheless, literature has yet missed to compile a comprehensive review. Drawing on the insights of 112 publications, four strands of literature could be distinguished to unravel the essence of...

When faced with budget-constrained bidders, all-pay auctions revenue-dominate standard auctions (Örst and second-price), which, in a competitive market, gives an edge to the all-pay format. An equilibrium in which sellers compete with standard auctions fails to exist if the all-pay format is...

We separately observe variable input expenditure and expenditure on fixed inputs in novel firm-level data covering the Belgian manufacturing sector over the last decades. This permits a deeper investigation of two potential drivers of the globally observed widening gap between firms' revenue and...

The economic tradition of ordoliberalism , understood as the theoretical and policy ideas of the Freiburg School, emerged in 1930s and 1940s Germany. In the years thereafter, it was quickly superseded by Keynesianism and other theories imported from the English-speaking world. The crisis in...

This article explores the risks and impacts of cryptocurrency scams on investors, the market, and the global financial system. It emphasizes the need for government regulation, enforcement activities, and consumer education to address these scams. The article also discusses the relationship...

Using the information on 629 companies listed at Karachi stock exchange over a period of 40 years (1975-2014), this study finds out the effect of monetary policy and industrial dynamics over the hazard rate of both the financial and non-financial companies. The study concludes that monetary...

Casual empiricism suggests higher quality is associated with greater variety. However, recent theoretical and empirical research has either not considered this link, or has been unable to establish unambiguous predictions about the relationship between quality and variety. In this paper we...