In vielen Anwendungen ist es notwendig, die stochastische Schwankungen der maximalen Abweichungen der nichtparametrischen Schätzer von Quantil zu wissen, zB um die verschiedene parametrische Modelle zu überprüfen. Einheitliche Konfidenzbänder sind daher für nichtparametrische Quantil...

We present a theoretical framework and empirical strategy to measure the causal effect ofinterim feedback on individuals’ performance. Our identification strategy exploits a naturalexperiment in a leading UK university where different departments have historically differentrules on the...

In this paper we study the equilibrium in a heterogeneous economy with twogroups of investors. Over-confident experts incorrectly assume that their signalfor the drift of the dividend process is correlated with the true drift, butinterpret the signal otherwise perfectly. Rational laymen avoid...

We use a sample of 18 countries to study what variables have a significant impact on an individual’s decision to start a new business and classification and regression trees for an accurate interpretation of the data. Our results support existing literature suggesting the existence of strong...