Before a group can take a decision, its members must agree on a mechanism to aggregate individual preferences. In this paper we present the results of an experiment on the influence of private payoff information and the role of the available alternatives on individuals’ mechanism choices in...

We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments the participants often choose lotteries between allocations, which contradicts most theories of choice such as...

According to estimates using the seasonal method, the volume of euro coins held for transaction purposes in Germany in 2011 stood at €2.3 billion; this corresponds to around 36% of the total volume of German (ie issued by the Deutsche Bundesbank) euro coins in circulation. 76% of the total...

We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments our participants often choose a stochastically dominated lottery between outcomes, contradicting most theories of...

This paper presents a theoretical and empirical investigation of the two basic effects of patenting: the positive effect of temporarily mitigating competition, and the negative effect of mandatory disclosure of a patent application. Providing empirical evidence for the presented theoretical...

This paper presents an empirical analysis of the relationship between fiscal illusion and the shadow economy for 104 countries over the period 1989-2009. We argue that both unobservable phenomena are closely linked to each other, as the creation of a fiscal illusion may be helpful if governments...

Re-coinage implies that old coins are declared invalid and exchanged for new ones at fixed exchange rates and dates. Empirical evidence shows that re-coinage could occur as often as twice a year within a currency area in the Middle Ages. The exchange fee at re-coinage worked as a monetary tax...

This series of volumes Documents and Studies on 19th c. Monetary History aims to republish the main documents related to the question of bimetallism at the end of the 19th century. The series will include several sub-series devoted to the International Monetary Conferences held in various...

The scope of the paper is to discuss the role of good governance in improving responsiveness of local government to the needs of the selected target markets (investors, tourists, students). The criteria of good governance and governance indicators are analysed with regard of their applicability...

"This volume consists of over twenty new essays written by friends, colleagues and pupils of Dr Mark Blackburn, Keeper of Coins and Medals at the Fitzwilliam Museum and Reader in Anglo-Saxon, Norse and Celtic at the University of Cambridge, who died on 1 September 2011. As well as a fitting...