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Career concerns, monetary incentives and job design
(Discussion paper, Working paper, 2003-12)We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the principal might want ... -
Career concerns, multiple tasks, and short-term contracts
(Discussion paper, Working paper, 2000-12)We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the optimal compensation ... -
Cashier fraud : data analysis in a context
(Discussion paper, Working paper, 1999)A true story is told about the role of a statistical expert witness in a cashier fraud case. It illustrates Shewhart’s first principle of understanding data: "Data have no meaning apart from their context". It may be used ... -
Centrality Computation in Weighted Networks Based on Edge-Splitting Procedure
(Discussion paper;40/14, Working paper, 2014-12)The analysis of network’s centralities has a high-level significance for many real-world applications. The variety of game and graph theoretical approaches has a paramount purpose to formalize a relative importance of ... -
Channel Coordination in a Multi-period Newsvendor Model with Dynamic, Price-dependent Stochastic Demand
(Discussion paper;6/16, Working paper, 2016-03-17)In this study, we extend the single-period newsvendor problem with stochastic demand into a multi-period and time-dependent one and find a solution for it. We analyze the multi-period newsvendor problem with stochastic ... -
The choice of seasoned-equity selling mechanism : theory and evidence
(Discussion paper, Working paper, 2004-11)Extending the Myers and Majluf (1984) framework, we present a model for the choice of seasoned-equity selling mechanism. A sequential pooling equilibrium exists which implies a positive market reaction to certain flotation ... -
Citizenship/Residence by Investment and Digital Nomad Visas: The Golden Era of Individual Tax Evasion and Avoidance?
(Discussion paper;12/23, Working paper, 2023-08-31)In recent decades, increased mobility of capital and labor improved individuals’ opportunities to avoid or evade tax. This chapter explores two programs commonly provided by tax havens that facilitate individuals in dodging ... -
Classroom experiments on technology licensing: Royalty stacking, cross-licensing and patent pools
(Discussion paper;3/21, Working paper, 2021-02-11)We present two classroom experiments on technology licensing. The first classroom experiment introduces the concept of royalty stacking. The students learn that non-cooperative pricing of royalties for complementary ... -
Climate Policy and Trade in Polluting Technologies
(Discussion paper;3/24, Working paper, 2024-01-30)This paper studies international trade in equipment used in the combustion of fossil fuels. Informed by a theoretical analysis, we identify a type of technology leakage hitherto unexplored in the literature: a country’s ... -
Closed form spread option valuation
(Discussion paper, Working paper, 2006-10)This paper considers the valuation of a spread call when asset prices are lognormal. The implicit strategy of the Kirk formula is to exercise if the price of the long asset exceeds a given power function of the price of ... -
Closed form valuation of American options
(Discussion paper, Working paper, 2002)This paper presents a simple and intuitive approximation of the American call and put value. The approximation generalizes the Bjerksund-Stensland model by dividing time to maturity into two periods, each with a flat early ... -
CO2 intensity and GDP per capita
(Discussion paper;16/18, Working paper, 2018-12-12)The relationship between CO2 intensity and GDP per capita is studied. Most rich countries show falling CO2 intensity over time and a negative correlation with GDP per capita. Many poor and medium rich countries show the ... -
Coalition Formation with Externalities: The Case of the Northeast Atlantic Mackerel Fishery in a Pre and Post Brexit Context
(Discussion paper;11/17, Working paper, 2017-10-18)In this paper we apply the so-called partition function approach to study coalition formation in the North-east Atlantic mackerel fishery in the presence of externalities. Atlantic mackerel is mainly exploited by the ... -
Combined vehicle routing and scheduling with temporal precedence and synchronization constraints
(Discussion paper, Working paper, 2006)We present a mathematical programming model for the combined vehicle routing and scheduling problem with time windows and additional temporal constraints. The temporal constraints allow for imposing pairwise synchronization ... -
Committee preferences and information acquisition
(Discussion paper;14/23, Working paper, 2023-09-28)We study committees whose task is to make a binary decision where the correct decision depends on the state of the world that is imperfectly known. Committee members can exert effort to learn about the true state of the ... -
Commodity price modeling that matches current observables : a new approach
(Discussion paper, Working paper, 2002)We develop a stochastic model of the spot commodity price and the spot convenience yield such that the model matches the current term structure of forward and futures prices, the current term structure of forward and futures ... -
Common agency with outside options : the case of international taxation of an MNE
(Discussion paper, Working paper, 1999) -
Common mistakes in computing the nucleolus
(Discussion paper;15/14, Working paper, 2014-04)Despite linear programming and duality have correctly been incorporated in algorithms to compute the nucleolus, we have found mistakes in how these have been used in a broad range of applications. Overlooking the fact ... -
Comparative Investment Analysis of Wind and Nuclear Energy: Assessing the Impact of Changes in the Electricity Mix and Required Government Support for Investment Parity
(Discussion paper;8/23, Working paper, 2023-06-28)Nuclear energy is once again in the spotlight in Europe, due to recent technological advancements and geopolitical challenges. Our study presents an investment analysis framework that compares the prospects of onshore and ... -
Competitive nash equilibria and two period fund separation
(Discussion paper, Working paper, 2003-11)We suggest a simple asset market model in which we analyze competitive and strategic behavior simultaneously. If for competitive behavior two-fund separation holds across periods then it also holds for strategic behavior. ...