Outputs (662)

The Attraction and Compromise Effects in Bargaining: Experimental Evidence (2021)
Journal Article
Galeotti, F., Montero, M., & Poulsen, A. (2022). The Attraction and Compromise Effects in Bargaining: Experimental Evidence. Management Science, 68(4), 2377-3174. https://doi.org/10.1287/mnsc.2021.4025

We experimentally investigate, in an unstructured bargaining environment with commonly known money payoffs, the attraction effect and compromise effect (AE and CE) in bargaining, namely, a tendency for bargainers to agree to an intermediate option (C... Read More about The Attraction and Compromise Effects in Bargaining: Experimental Evidence.

Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics (2021)
Journal Article
Isler, O., Gächter, S., Maule, A. J., & Starmer, C. (2021). Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics. Scientific Reports, 11(1), Article 13868. https://doi.org/10.1038/s41598-021-93412-4

Humans frequently cooperate for collective benefit, even in one-shot social dilemmas. This provides a challenge for theories of cooperation. Two views focus on intuitions but offer conflicting explanations. The Social Heuristics Hypothesis argues tha... Read More about Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics.

Acquirers and financial constraints: Theory and evidence from emerging markets (2021)
Journal Article
Mukherjee, R., & Proebsting, C. (2021). Acquirers and financial constraints: Theory and evidence from emerging markets. Journal of International Money and Finance, 117, Article 102440. https://doi.org/10.1016/j.jimonfin.2021.102440

Financial crises in emerging market economies induce diverging patterns of ownership stakes and subsequent divestiture rates among domestic and foreign acquirers. We rationalize these empirical findings in a tractable model where domestic acquirers a... Read More about Acquirers and financial constraints: Theory and evidence from emerging markets.

A Theory of Outside Equity: Financing Multiple Projects (2021)
Journal Article
Bougheas, S., & Wang, T. (2021). A Theory of Outside Equity: Financing Multiple Projects. Journal of Corporate Finance, 69, Article 102025. https://doi.org/10.1016/j.jcorpfin.2021.102025

In the financial economics literature debt contracts provide optimal solutions for addressing managerial moral hazard problems. We analyze a model with multiple projects where the manager obtains private information about their quality after the cont... Read More about A Theory of Outside Equity: Financing Multiple Projects.

Disclosure of information under competition: An experimental study (2021)
Journal Article
Sheth, J. D. (2021). Disclosure of information under competition: An experimental study. Games and Economic Behavior, 129, 158-180. https://doi.org/10.1016/j.geb.2021.05.009

The theory of voluntary disclosure of information posits that market forces lead firms (senders) to disclose information through a process of unravelling. This prediction requires that consumers (receivers) hold correct beliefs and, in equilibrium, m... Read More about Disclosure of information under competition: An experimental study.

A test for strict stationarity in a random coefficient autoregressive model of order 1 (2021)
Journal Article
Trapani, L. (2021). A test for strict stationarity in a random coefficient autoregressive model of order 1. Statistics and Probability Letters, 177, Article 109164. https://doi.org/10.1016/j.spl.2021.109164

We propose a test for the null of strict stationarity in a Random Coefficient AutoRe-gression (RCAR) of order 1. The test can also be used in the case of a standard AR(1) model, and it can be applied under minimal requirements on the existence of mom... Read More about A test for strict stationarity in a random coefficient autoregressive model of order 1.

Foreign influence and domestic policy (2021)
Journal Article
Aidt, T. S., Albornoz, F., & Hauk, E. (2021). Foreign influence and domestic policy. Journal of Economic Literature, 59(2), 426-487. https://doi.org/10.1257/jel.20201481

In an interconnected world, economic and political interests inevitably reach beyond national borders. Since policy choices generate external economic and political costs, foreign state and non-state actors have an interest in influencing policy acti... Read More about Foreign influence and domestic policy.

Financial System Architecture and the Patterns of International Trade (2021)
Journal Article
Falvey, R., Defever, F., Bougheas, S., & Amissah, E. (2021). Financial System Architecture and the Patterns of International Trade. European Economic Review, 136, Article 103751. https://doi.org/10.1016/j.euroecorev.2021.103751

Countries differ in the extent to which their financial systems rely on banks or on financial markets. We offer a model featuring a complex relationship between countries’ financial system architecture and their comparative advantage. Countries with... Read More about Financial System Architecture and the Patterns of International Trade.

Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm (2021)
Journal Article
Checchi, D., Ciolfi, A., De Fraja, G., Mazzotta, I., & Verzillo, S. (2021). Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm. Economica, 88(352), 1107-1129. https://doi.org/10.1111/ecca.12373

This paper determines the assessment of the publications submitted to the UK research evaluation carried out in 2014, the REF, which would have resulted if they had been assessed with the bibliometric algorithm used by the Italian evaluation agency,... Read More about Have you Read This? An Empirical Comparison of the British REF Peer Review and the Italian VQR Bibliometric Algorithm.

CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility (2021)
Journal Article
Astill, S., Harvey, D. I., Leybourne, S. J., Taylor, A. R., & Zu, Y. (2023). CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility. Journal of Financial Econometrics, 21(1), 187-227. https://doi.org/10.1093/jjfinec/nbab009

We generalise the Homm and Breitung (2012) CUSUM-based procedure for the real-time detection of explosive autoregressive episodes in financial price data to allow for time-varying volatility. Such behaviour can heavily inflate the false positive rate... Read More about CUSUM-Based Monitoring for Explosive Episodes in Financial Data in the Presence of Time-Varying Volatility.