Health expenditure data almost always include extreme values, implying that the underlying distribution has heavy tails. This may result in infinite variances as well as higher-order moments and bias the…
In this paper, we study the extent to which ministers engage in regional favoritism. We are the first to provide a comprehensive analysis of a larger set of the governing elite, not just focusing on the primary…
This paper shows that the American Inventor’s Protection Act, which introduced the disclosure of patent applications after 18 months, i.e. before a grant decision is taken and, hence, before it is known whether…
In markets where sellers’ marginal costs of production have a common component, they have informational advantage over buyers regarding those costs. This information asymmetry between sellers and buyers is…
