Dye (1985) showed that the optimal disclosure policy, when a manager is randomly endowed with perfect private information, is upper tailed, i.e. the manager only discloses firm value above an appropriate cutoff level. We interpret this strategically as an optimal exercise by management of the...

Firms compete by choosing both a price and a design from a family of designs that can be represented as demand rotations. Consumers engage in costly sequential search among firms. Each time a consumer pays a search cost he observes a new offering. An offering consists of a price quote and a new...

This paper examines whether and to what extent three recently implemented family policies in Sweden change incentives regarding employment and choice of childcare for parents of young children, and whether these incentives differ by income level. These policy innovations warrant close...

This paper points to the centrality of the infrastructure industry in the study of regulation, in general, and the regulatory state, in particular. It progress in three steps. First, it considers the particular attributes that make infrastructure industries a unique site for the exploration of...

The employment effect of climate policy has emerged as an important concern of policy makers, not least in the USA. Yet the impact of climate policy on jobs is complex. In the short term, jobs will shift from high-carbon activities to low-carbon activities. The net effect could be job creation,...

A number of studies have tested whether, globally, per capita incomes are converging over time. To date, the majority of studies find no evidence of absolute convergence, but many find evidence of conditional convergence, i.e. convergence having controlled for differences in technological and...

The diffusion of modern, efficient technology has far-reaching consequences for the geography of economic activity, inequality and environmental quality. This article examines two popular yet highly controversial claims about the conditions most favorable to the rapid spread of new technology....

This article examines what explains the relative attractiveness of Western European countries as a destination for asylum seekers. Individuals coming to Western Europe in order to lodge an asylum application are modelled as utility maximisers who choose the destination country that offers the...

This paper analyses the use and circulation of nternational auditing standards within a large post-Soviet Russian audit firm, as it faces up to the challenges of international harmonisation. It describes this process as one of ‘connecting worlds’ and translation. In a detailed field study...

We consider the robust hedging problem in which an investor wants to super-hedge an option in the framework of uncertainty in a model of a stock price process. More specifically, the investor knows that the stock price process is H-self-similar with H∈(1/2,1), and that the log-returns are...