We endogenize firms’ organizational structures in a homogenous goods duopoly where firms invest in cost reducing R&D and compete in quantities, and examine their impact on R&D efforts, market performance and social welfare. Each firm’s owner can either delegate to a manager both market...

This paper provides a description and background information related to the experimental project on “Trust and trustworthiness in association members and in the society”. The main purpose of the project has been to test experimentally one of the main theses of the social capital literature,...

The objective of this paper is to examine the relationship between international trade and Foreign Direct Investment (FDI) empirically. It analyses whether the reduction of trade barriers over time has increased FDI for the particular case of the European Union (EU) during the period from 1995...

This paper aims to analyze whether transport connectivity affects interregional trade flows from a spatial dependence approach. In order to do so, we consider two neighboring criteria into a spatial autoregressive model. First, we use the geographical criteria of first-order contiguity and,...

In this paper, we propose a non-cumulative function for evaluating the spatial concentration of economic activity. This function, which we have called the M marginal function, comes from the tradition of spatial statistics but, at the same time, incorporates some key features from the economic...

Asymmetric information is a common characteristic of economic relationships and often provides incentives to deceive. Being aware of previous findings showing that ex ante transparency about conflicts of interest leads to even more deception, we hypothesize that the timing of disclosing a...

This paper focuses on the importance of accounting harmonisation in foreign activities at country level. The adoption of International Financial Reporting Standards (IFRS) is considered to reduce information costs among countries and, therefore, encourage international trade in goods and...

We study ultimatum bargaining over the wage that should be paid in order to have a subject perform a given real task. Our results are obtained from experiments run in Greece, Spain and the UK. We find significantly higher wage offers and lower acceptance probabilities in the UK than in the other...

In the context of a quantity setting duopoly we experimentally test the ability of managerial compensation schemes to provide a commitment device leading to a more aggressive behavior in the product market. In line with our model, Relative Performance-based rewards are chosen more frequently...

We investigate the impact of alternative certifying institutions on firms’ incentives to engage in costly Corporate Social Responsibility (CSR) activities as well as their relative market and societal implications. We find that the CSR certification standard is the lowest under for-profit...