The acquisition of ownership rights by a firm in its suppliers is a common feature in various industries. Often, these acquisitions are reduced to a participation in the target's cash flow, and not associated…

We analyze the stability of ambiguity preferences experimentally, by repeatedly eliciting ambiguity attitudes towards multiple 3-color Ellsberg urns over a period of two months. 57% of the choices show stable…

• Economic Outlook for Switzerland: Expectations Improved Solidly, but Remain at Depressed Levels
• Current Economic Situation: Indicator Remains Unchanged
• Inflation Expectations: Stability Expected
• Short-Term Interest…

We examine the role of political fractionalization in understanding the "resource curse". Using panel data for 30 oil-rich countries, we find that the income effect of resource rents is moderated by the…

• Economic Outlook for Switzerland: Expectations Improved Further and Are Now Balanced
• Current Economic Situation: Slightly Better Indicator
• Inflation Expectations: Risks on the Upside
• Short-Term Interest Rates:…

In this paper, transaction costs of German firms, regulated under the EU emissions trading scheme (EU ETS) are examined empirically. Introduced in 2005, the EU ETS currently regulates carbon dioxide emissions…

The career prospects of young academics in Germany are the subject of an intensive public debate. During the early 2000s, the academic career path was characterized by the availability of only few tenured…