The effects of the three-point rule in first league German soccer are tested empirically and compared to games from the German cup-competition. The inclusion of cup games ensures that changes in league games can be attributed to the three-point rule. As a result of their relative devaluation,...

We analyse changes in the National Football League (NFL) due to ghost games in 2020. The home bias disappears as expected. However, referee decisions do not seem to be relevant for this. There are also no significant results for semi-ghost games with a reduced number of spectators

The euro area has several problems. Nevertheless, there is not only strong political support for it, but also most companies back the euro or at least do not complain. It is worthwhile to analyse which companies do profit from the euro and why most others do not oppose it. Exporting companies in...

In traditional game theory, strategies are equivalent with actions and mixed strategies are the only extension. As a new extension, strategies are interpreted as plans. Although most plans are not very interesting (like doing a certain action), some conditional plans are. For example, they...

The debate on employee representation on corporate boards has received considerable attention from scholars and politicians around the world. We provide new insights to this ongoing discussion by applying power indices from game theory to examine the actual voting power of employees on boards...

If one of two rational players is absent-minded for at least three rounds, cooperation in a prisoners' dilemma with a finite number of repetitions is possible. If both players are absent-minded, even two rounds of absent-mindedness can be enough for cooperation in these rounds and all rounds...

If one of two rational players is absent-minded for at least three rounds, cooperation in a prisoners' dilemma with a finite number of repetitions is possible. If both players are absent-minded, even two rounds of absent-mindedness can be enough for cooperation in these rounds and all rounds...

Co-determination is not only a political, social and legal issue, it is also an issue of great economic importance. However, there is no consensus what the economic effects of co-determination are. There are vehement proponents for and equally dedicated opponents against co-determination in the...

Ericson argued in this journal that the Bosman ruling, the abolition of transfer fees after the expiration of contracts, is inefficient. But, Ericson's model is implausible because transfers in only one direction are assumed and the so-called transfer fees are indirect salary payments. His model...

Performance pay, at least as usually understood, is no good idea for non-executive directors. They have to supervise and control or in some situations even to fire and replace the executive managers. This means that their performance as supervisors is totally different from the performance of...