Principal decision-makers are sometimes obliged to rely on multiple sources of information when drawing conclusions about the desirability of given actions in response to decisions they face. They may hire specialized agents to inform their decisions. Principals have authority both to allow...

Abstract This article contributes to understanding the organization of collusive agreements by studying the inner-workings of the graphite electrode cartel. For this purpose: (i) we construct a database that comprises 49 meetings between 24 cartel members during the life period of the agreement,...

An important puzzle in financial economics is why fund managers invest in short-maturity assets when they could obtain larger profits in assets with longer maturity. This work provides an explanation to this fact based on labor contracts signed between institutional investors and fund managers....

In this paper we investigate the characteristics of the citation distributions of the 500 universities inthe 2013 edition of the CWTS Leiden Ranking. We use a WoS dataset consisting of 3.6 million articles published in 2003-2008 with a five-year citation window, and classified into 5,119...

The usual solution to the aggregation problem of heterogeneous fields in the all-sciences case relies onthe prior normalization of the raw citations received by any publication. In this paper, we propose analternative solution that does not require any prior field-normalization. The citation...

We study the optimal provision of unemployment insurance (UI) in a framework that distinguishes between consumption and expenditure. We derive a "sufficient statistics" formula for optimal UI that is expressed terms of observable variables and can therefore be used in applied work. Recent...

This paper studies the assignment of responsibility to the participants in the case of co-authored scientific publications. In the conceptual part, we establish that the key shortcoming of the full counting method is its incompatibility with the use of additively decomposable citation impact...