We study the effect on cost overruns of auction formats (average bid as opposed to …first price rule) conditional on the entry mechanisms (open as opposed to restricted participation). The dataset is a panel of auctions held in the Italian Veneto region between 2004 and 2006. It includes small...

We study the effect on cost overruns of auction formats (average bid as opposed to first price rule) conditional on the entry mechanisms (open as opposed to restricted participation).The dataset is a panel of auctions held in the Italian Veneto region between 2004 and 2006. It includes small...

The paper studies, in a repeated interaction setting, how the presence of cooperative agents in a heterogeneous community organized in groups, affects group efficiency and stability. The paper extends the literature by assuming that each type can profitably mimic other types. It is shown that...

We study optimal procurement in the presence of default risk. Contractors differ in the penalty they suffer in case of default, which is private information. If the loss to the procurer from non-completion is high relative to the cost of completion, the optimal mechanism is to assign the project...

A large population plays a two-period sequential common agency game. Agents are long lived, while principals are short lived. Preferences and technology are additively separable in time and time independent. At the onset, agents are matched in pairs under private information of individual types....

The paper studies, in a repeated interaction setting, how the presence of cooperative agents in a heterogeneous community organized in groups affects efficiency and group stability. The paper expands on existing literature by assuming that each type can profitably mimic other types. It is shown...

We conduct an empirical investigation to examine how income shocks and aggregate conditions influence income expectations, expectation uncertainty and expectation errors. We use data from a large longitudinal Dutch survey collecting detailed information on household income expectations. Our...

We study numerically the inter- and intra-generational welfare consequences of alternative pension fund policies in response to unexpected demographic, financial and macro-economic shocks. Our analysis is based on an applied many-generation OLG model describing a small-open economy with...

We investigate numerically how indexation of funded pensions for inflation can be differentiated across the various groups of fund participants. The pension arrangement is modelled after the Dutch situation. While the aggregate welfare consequences are small, group-specific consequences are more...

We investigate numerically how indexation of funded pensions for inflation can be differ-entiated across the various groups of fund participants. The pension arrangement is modelledafter the Dutch situation. While the aggregate welfare consequences are small, group-specific consequences are more...