The focus in this contribution is on innovative technological races with uncertainty as to who will win a fixed market prize. One firm is the first mover and commits to innovative efforts such as investments in research and development before the followers choose their efforts to win. Perhaps...

We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment show that both types of firms are equally subject to...

Law and economics has become the dominant style of legal scholarship in the United States. This Article considers and illustrates the ways in which law and economics has affected and will affect legal scholarship, education, and practice. After first defining law and economics as a method by...

Aligning IT to the business and consequently creating business value from IT receive a lot of attention and are high on the agenda in many organisations. Taking care of good alignment is a two-way responsibility that actually starts within the business. Each organisation should own a clear...

Prior research in marketing documents the prevalence of so-called psychological (or odd) pricing. Unlike earlier studies that focused on prices of professional vendors, we also consider prices of private vendors in our analyses. Relying on a sample of prices for second-hand cars and employing...

The article argues that Jonathan Swift’s classic satirical narrative Gulliver’s Travels, which was first published in 1726, was part of a first generation of Orientalist works in Western Europe. It also argues that Swift used his orientalist approach to confer an economic message. Using the...

We illustrate how the aggregate level of total factor productivity, as obtained from aggregate input and output statistics, can be replicated by summing appropriately weighted firm-level measures. This exact aggregation has a number of advantages over existing practices. First, the contribution...

In this paper, the concordance between the major tenets of the export promotion policies of the public export promotion organisations in Belgium, i.e. Export Vlaanderen (the predecessor of Flanders Investment & Trade), AWEX and Brussels Export, in the period 1999- 2003 on the one hand, and the...

This interdisciplinary analysis focuses on a simple law & economics model of environmental law enforcement. We investigate why certain firms violate environmental regulations in two problem settings (binary and continuous) and which factors determine their compliance decision. The basic model...

Over the last decades, good governance has become increasingly important. Good public governance has been said to be the key to economic growth, low taxes and a high level of trust in public institutions. Academics and practitioners increasingly attempt to measure the quality of public...