Recent developments in the oil and gas industry suggest that investment behaviour is not necessarilychangeless over time. We propose a micro-econometric procedure to investigate the stability ofinvestment behaviour. Applying system GMM methods on a panel data set for 253 oil and gas...

Work-related health problems represent a latent threat to job motivation and organisational performance,with high potential costs both for private and public enterprises. Based on powerful survey data from aninternational oil company in Norway, we explore how work-related health problems are...

In many tournaments it is the contestants themselves who deter-mine reward allocation. Labor-union members bargain over wage dis-tribution, and many …firms allow self-managed teams to freely determineinternal resource allocation, incentive structure, and division of labour.We analyze, and test...

Why does individual performance pay seem to prevail in humancapital intensive industries? We present a model that may explainthis. In a repeated game model of relational contracting, we ana-lyze the conditions for implementing peer dependent incentive regimeswhen agents possess indispensable...

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Extensive field evidence shows individuals’ decisions in settings involving choice under uncertainty (e.g. savings and investment choices) depend on the decisions of their peers. One hypothesized cause of peer group effects is social interaction effects: an individual’s utility from an...

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We show evidence of a contemporaneous relation between stock market liquidity and the business cycle. Stock market liquidity worsen when the economy is slowing down, and vice versa. This effect is most pronounced for small firms. Using data for both the US and Norway, we find strong evidence...