Letter markets are still highly regulated in most countries. Some countries, such as those of the European Union, plan to liberalize letter markets within this decade. Competition will provide many new challenges and opportunities for established and new players. In this paper we analyze...

In standard bank theoretic models agents are assumed to be fully rational expected utility maximizers. This fact ignores the huge amount of evidence for anomalies in human behavior found by psychologists. In this paper we argue that the implementation of behavioral concepts into banking theory...

A novel flow field for algae raceways has been proposed, which is fundamentally different from traditional paddlewheel-driven raceways. To reduce freezing and heat loss in the raceway during cold time, the water is drained to a deep storage canal. The ground bed of the new raceway has a low...

We develop an industry specific model of price competition with product differentiation to analyze the effect of entry regulation on process innovation in the Swiss mail industry. We consider the four most prominent scenarios: regulated monopoly, end-to-end competition, worksharing without...

This paper presents a two-period model of talent investments in which two clubs compete for a contest prize. We show that multiple equilibria are possible, using a closed-loop approach with strictly convex costs: The large-market club invests in both periods more than the small-market club or...

This article presents a model of talent investments where two clubs compete for prizes. Our model is based on a general class of cost functions with a constant elasticity of marginal costs with respect to investments. The analysis finds that reduced revenue sharing improves competitive balance....

The peculiar German football governance structure may be well suited to prevent integrity problems resulting from multiple club ownership or from ownership by "undesired'' persons or entities. However, this effect comes at a price. In the vacuum of power generated within large member...

Several countries have implemented bonus taxes for corporate executives in response to the financial crisis of 2007-2010. Using a principal-agent model, this paper investigates the incentive effects of bonus taxes by analyzing the agent's and principal's behavior. Specifically, we show how bonus...

Replicating a successful template or best practice across time (temporal replication) or across a number of different economic settings (spatial replication) is an important strategy for organizational growth and performance improvement. In this paper, we use an NK landscape model to examine how...