In this paper we consider the hypothesis that particular short-run co-movements indicationg that shocks have similar responses might only exist for a particular regime and not for the whole sample. A two-step procedure is set up to test and estimate the multi-regime common cyclical feature. This...

In this paper we study and compare the properties of several bootstrap unit root tests recently proposed in the literature. The tests are Dickey-Fuller or Augmented DF-tests, either based on residuals from an autoregression and the use of the block bootstrap (Paparoditis & Politis, 2003) or on...

This article builds on the call of various authors (e.g. George & Jones, 2000; Mitchell & James,2001; Rousseau & Fried, 2001) for a better representation of time in theory-building andresearch in organizational behavior (OB). It proposes a radical temporalist approach to the study of OB which combines a...

Harmonization of the law, in Europe and elsewhere, can be a theory driven process in which law and economics research (J.E.L. code K) can play an important role. With the example of a recent German case, the Waterpenny case, and an established piece of legislation, the Civil Code, it is shown...

This paper studies risk attitudes using a large representative survey and a complementary experiment conducted with a representative subject pool in subjects'' homes. Using a question asking people about their willingness to take risks "in general", we find that gender, age, height, and parental...

Although explicitly installed as a transitory body, the Dutch telecommunication controller OPTA displays the typical signs of government institutions that seek to become indispensable. A conflict in OPTA''s two main policy objectives – guarding consumer prices through controlling the network...

The editors of Kyklos have asked the question: Is there a European economics? This short essay tries to give an answer by first trying to provide a framework for a sensible answer in economics, and then following suit by illustrating how in the context of this frame-work, the answer can be...

No abstract available

We present a laboratory experiment in which we investigate bidding behavior with independent private values in the recently proposed bisection auction, and compare it with two classical auction formats - the Vickrey auction and the English auction. We test whether subjects behave strategically...

In this paper we present a new iterative auction, the bisection auction, that can be used for the sale of a single indivisable object. We will show that the bisection auction is computationally more efficient than the classical English auction while it still preserves all characteristics the...