# Tilburg University, Center for Economic Research

# Discussion Paper

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(Richard Broekman)** **Series handle:** repec:dgr:kubcen
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### 2003

**2003-95 Market Timing: A Decomposition of Mutual Fund Returns***by*Swinkels, L.A.P. & Sluis, P.J. van der & Verbeek, M.J.C.M.**2003-94 Combinatorial Designs with Two Singular Values II. Partial Geometric Designs***by*Dam, E.R. van & Spence, E.**2003-93 Nonparametric Estimation of a Dependent Competing Risks Model for Unemployment Durations***by*Ours, J.C. van & Lomwel, A.G.C. van & Berg, G. van den**2003-92 Production Planning and Inventory Control in the Pre-deco Industry***by*Ashayeri, J. & Heuts, R.M.J. & Strijbosch, L.W.G. & Lansdaal, H.G.L.**2003-91 Approximate Distributions of Clusters of Extremes***by*Segers, J.J.J.**2003-90 Tax Policy and Labor Market Performance***by*Bovenberg, A.L.**2003-89 On the Axiomatic Characterization of "Who is a J?"***by*Dimitrov, D.A. & Sung, S.C.**2003-88 A Geometric Characterisation of the Compromise Value***by*Borm, P.E.M. & Hendrickx, R.L.P. & Quant, M. & Gonzalez-Diaz, J.**2003-87 Fixed Tree Games with Repeated Players***by*Miquel, S. & Velzen, S. van & Hamers, H.J.M. & Norde, H.W.**2003-86 Efficiency Costs of Meeting Industry-Distributional Constraints under Environmental Permits and Taxes***by*Bovenberg, A.L. & Goulder, L.H. & Gurney, D.J.**2003-85 An Analysis of Ratings of Russian Banks***by*Soest, A.H.O. van & Peresetsky, A. & Karminsky, A.M.**2003-84 A note on exponential dispersion models which are invariant under length-biased sampling***by*Bar-Lev, S.K. & Duyn Schouten, F.A. van der**2003-83 Applications of Likelihood-Based Methods for the Reliability Parameter of the Location and Scale Exponential Distribution***by*Duyn Schouten, F.A. van der & Bar-Lev, S.K.**2003-82 Multinomial Group Testing Models with Incomplete Identification***by*Duyn Schouten, F.A. van der & Bar-Lev, S.K. & Stadje, W.**2003-81 The Trade-Off Between Risk and Control in Corporate Ownership***by*Manjon, M.C.**2003-80 Problem Reduction in Set Partitioning Problems***by*Krieken, M.G.C. van & Fleuren, H.A. & Peeters, M.J.P.**2003-79 Existence of Equilibrium and Price Adjustments in a Finance Economy with Incomplete Markets***by*Talman, A.J.J. & Thijssen, J.J.J.**2003-78 Do Corporate Control and Product Market Competition Lead to Stronger Productivity Growth? Evidence from Market-Oriented and Blockholder-Based Governance Regimes***by*Koke, J. & Renneboog, L.D.R.**2003-77 A Duopoly Experiment on Cooperative and Noncooperative R&D***by*Suetens, S.**2003-76 Modified Normal Demand Distributions in (R,S)-Inventory Models***by*Strijbosch, L.W.G. & Moors, J.J.A.**2003-75 Country and Consumer Segmentation: Multi-Level Latent Class Analysis of Financial Product Ownership***by*Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K.**2003-74 Learning, Inflation Reduction and Optimal Monetary Policy***by*Schaling, E.**2003-73 On the Connectedness of Coincidences and Zero Points of Mappings***by*Talman, A.J.J. & Yang, Z.F.**2003-72 The Liberalized Dutch Green Electricity Market: Lessons from a Policy Experiment***by*Damme, E.E.C. van & Zwart, G.**2003-71 Sustainability and Substitution of Exhaustible Natural Resources: How Resource Prices Affect Long-Term R&D Investments***by*Bretschger, L. & Smulders, J.A.**2003-70 Random Matching Models and Money: The Global Structure and Approximation of Stationary Equilibria***by*Kamiya, K. & Talman, A.J.J.**2003-69 Joint Labour Supply Dynamics of Older Couples***by*Michaud, P.C.**2003-68 Regulate or Deregulate: Influencing Network Interconnenction Charges***by*Wielle, B. van de**2003-67 Combinatorial Designs with Two Singular Values I. Uniform Multiplicative Designs***by*Dam, E.R. van & Spence, E.**2003-66 Conditions for Singular Incidence Matrices***by*Haemers, W.H.**2003-65 Economic Assimilation and Outmigration of Immigrants in West-Germany***by*Bellemare, C.**2003-64 Analytic American Option Pricing and Applications***by*Sbuelz, A.**2003-63 The Value Relevance of Dirty Surplus Accounting Flows in the Netherlands***by*Wang, Y. & Buijink, W.F.J. & Eken Ra, R.C.W.**2003-62 Co-movement, Capital and Contracts: 'Normal' Cycles Through Creative Destruction***by*Francois, P. & Lloyd-Ellis, H.**2003-61 Environmental Policy, the Porter Hypothesis and the Composition of Capital: Effects of Learning and Technological Progress***by*Feichtinger, G. & Hartl, R.F. & Kort, P.M. & Veliov, V.**2003-60 Does it take Three to Make Two Happy? An Experimental Study on Bargaining with Mediation***by*Schroeter, K. & Vyrastekova, J.**2003-59 A Composite Run-to-the-Bank Rule for Multi-Issue Allocation Situations***by*Gonzalez-Alcon, C. & Borm, P.E.M. & Hendrickx, R.L.P.**2003-58 Elicited Bid Functions in a (a)Symmetric First-Price Auctions***by*Pezanis-Christou, P. & Sadrieh, A.**2003-57 An Intergenerational Common Pool Resource Experiment***by*Fischer, M.E. & Irlenbusch, B. & Sadrieh, A.**2003-56 Lindahl Equilibrium and Schweitzer's Open Club Model Semi-Public Goods***by*Raa, T. ten & Gilles, R.P.**2003-55 The core cover in relation to the nucleolus and the Weber set***by*Quant, M. & Borm, P.E.M. & Reijnierse, J.H. & Velzen, B. van**2003-54 Overconfidence and Delegated Portfolio Management***by*Palomino, F.A. & Sadrieh, A.**2003-53 The Role of Trust in Costly Network Formation***by*Gilles, R.P. & Sarangi, S.**2003-52 International Fisheries Agreements: The Feasibility and Impacts of Partial Cooperation***by*Pham Do, K.H. & Folmer, H.**2003-51 The Bank's Choice of Financing and the Correlation Structure of Loan Returns***by*Ioannidou, V. & Pierides, Y.**2003-50 An Algorithm for the Nucleolus of Airport Profit Problems***by*Brânzei, R. & Inarra, E. & Tijs, S.H. & Zarzuelo, J.**2003-49 Good and Bad Objects: Cardinality-Based Rules***by*Dimitrov, D.A. & Borm, P.E.M. & Hendrickx, R.L.P.**2003-48 Functionals of Clusters of Extremes***by*Segers, J.J.J.**2003-47 On Representative Trust***by*Bellemare, C. & Kroger, S.**2003-046 The Term Structure of Credit Spreads on Euro Corporate Bonds***by*Landschoot, A. van**2003-45 5-Chromatic Strongly Regular Graphs***by*Fiala, N.C. & Haemers, W.H.**2003-44 Conjectural Variations and Evolutionary Stability: A New Rationale for Consistency***by*Müller, W. & Normann, H.T.**2003-43 Workaholics and Drop Outs in Optimal Organizations***by*Müller, W. & Schotter, A.**2003-42 Allowing for Two Production Periods in the Cournot Duopoly: Experimental Evidence***by*Müller, W.**2003-41 From Ultimatum to Nash Bargaining: Theory and Experimental Evidence***by*Fischer, S. & Güth, W. & Stiehler, A. & Müller, W.**2003-40 Socially Structured Games and their Applications***by*Herings, P.J.J. & Laan, G. van der & Talman, A.J.J.**2003-039 Dominating Set Games***by*Velzen, S. van**2003-38 Leading by Example? Investment Decisions in a Mixed Sequential-Simultaneous Public Bad Experiment***by*Heijden, E.C.M. van der & Moxnes, E.**2003-37 Structural RFV: Recovery Form and Defaultable Debt Analysis***by*Guha, R. & Sbuelz, A.**2003-36 Compromise Solutions for Bankruptcy Situations with References***by*Pulido, M. & Borm, P.E.M. & Hendrickx, R.L.P. & Llorca, N. & Sánchez-Soriano, J.**2003-35 Equity versus Warm Glow in Intergenerational Giving***by*Sadrieh, A.**2003-34 Type Monotonic Allocation Schemes for Multi-Glove Games***by*Brânzei, R. & Solymosi, T. & Tijs, S.H.**2003-33 Application-driven Sequential Designs for Simulation Experiments: Kriging Metamodeling***by*Kleijnen, J.P.C. & Beers, W.C.M. van**2003-32 Has the Dutch Miracle Come to an End?***by*Ours, J.C. van**2003-31 An Experimental Comparison of Four Methods for Assessing Judgemental Distributions***by*Moors, J.J.A. & Strijbosch, L.W.G. & Groenendaal, W.J.H. van & Schuld, M.H. & Mathijssen, A.C.A.**2003-30 Derivation of Monotone Decision Models from Non-Monotone Data***by*Daniëls, H.A.M. & Velikova, M.V.**2003-29 On a Compromise Social Choice Correspondence***by*Quant, M. & Borm, P.E.M. & Reijnierse, J.H. & Voorneveld, M.**2003-28 Why Individual Investors want Dividends***by*Dong, M. & Robinson, C. & Veld, C.H.**2003-27 GARCH and Irregularly Spaced Data***by*Meddahi, N. & Renault, E. & Werker, B.J.M.**2003-26 Consumers and Experts: An Econometric Analysis of the Demand for Water Heaters***by*Bartels, R. & Fiebig, D.G. & Soest, A.H.O. van**2003-25 How to Organize Sequential Auctions: Results of a Natural Experiment by Christie's***by*Ginsburgh, V. & Ours, J.C. van**2003-24 Testing Expected Shortfall Models for Derivative Positions***by*Kerkhof, F.L.J. & Melenberg, B. & Schumacher, J.M.**2003-23 Serial and Nonserial Sign-and-Rank Statistics: Asymptotic Representation and Asymptotic Normality***by*Hallin, M. & Vermandele, C. & Werker, B.J.M.**2003-22 A Derivative Based Estimator for Semiparametric Index Models***by*Donkers, A.C.D. & Schafgans, M.**2003-21 What do Information Frictions Do?***by*Bhattacharya, J. & Chankraborty, S.**2003-20 Strategic and Tactical Allocation to Commodities for Retirement Savings Schemes***by*Nijman, T.E. & Swinkels, L.A.P.**2003-19 Strongly Essential Coalitions and the Nucleolus of Peer Group Games***by*Brânzei, R. & Solymosi, T. & Tijs, S.H.**2003-18 On Theil's Errors***by*Magnus, J.R. & Sinha, A.K.**2003-17 Axiomatizations of the Value of Matrix Games***by*Norde, H.W. & Voorneveld, M.**2003-16 Can Racially Unbiased Police Perpetuate Long-Run Discrimination?***by*Bunzel, H. & Marcoul, P.**2003-15 Chaotic Planning Solutions in the Textbook Model of Labor Market Search and Matching***by*Bhattacharya, J. & Bunzel, H.**2003-14 Informationally Robust Equlibria***by*Reijnierse, J.H. & Borm, P.E.M. & Voorneveld, M.**2003-13 Cost Allocation in a Bank ATM Network***by*Bjorndal, E. & Hamers, H.J.M. & Koster, M.A.L.**2003-12 Gradient Estimation Schemes for Noisy Functions***by*Brekelmans, R.C.M. & Driessen, L. & Hamers, H.J.M. & Hertog, D. den**2003-11 Characterizing Convexity of Games using Marginal Vectors***by*Velzen, S. van & Hamers, H.J.M. & Norde, H.W.**2003-10 Procedural Group Identification***by*Dimitrov, D.A. & Sung, S.C. & Xu, Y.**2003-9 Measuring Skill in Games: Several Approaches Discussed***by*Dreef, M.R.M. & Borm, P.E.M. & Genugten, B.B. van der**2003-8 Edgeworth Expansions for the Distribution Function of the Hill Estimator***by*Cuntz, A. & Haeusler, E. & Segers, J.J.J.**2003-7 Multivariate Nonnegative Quadratic Mappings***by*Luo, Z-Q & Sturm, J.F. & Zhang, S.**2003-6 Strategic Investment Under Uncertainty: Merging Real Options with Game Theory***by*Huisman, K.J.M. & Kort, P.M. & Pawlina, G. & Thijssen, J.J.J.**2003-5 Is 3/4 of the Sales Promotion Bump Due to Brand Switching? No it is 1/3***by*Heerde, H.J. van & Gupta, S. & Wittink, D.R.**2003-4 On the Employment Effects of Part-Time Labor***by*Lomwel, A.G.C. van & Ours, J.C. van**2003-3 Optimal Competition: A Benchmark for Competition Policy***by*Boone, J.**2003-2 Coordination of Coupled Black Box Simulations in the Construction of Metamodels***by*Husslage, B.G.M. & Dam, E.R. van & Hertog, D. den & Stehouwer, H.P. & Stinstra, E.**2003-1 A User's Guide to the Brave New World of Designing Simulation Experiments***by*Kleijnen, J.P.C. & Sanchez, S.M. & Lucas, T.W. & Cioppa, T.M.

### 2002

**2002-119 The Role of Trust in Interorganizational Learning in Joint Ventures***by*Janowicz, M.K. & Noorderhaven, N.G.**2002-118 Equilibrium Price Dispersion in a Matching Model with Divisible Money***by*Kamiya, K. & Sato, T.**2002-117 Compromising in Partition Function Form Games and Cooperation in Perfect Extensive Form***by*Fukuda, E. & Tijs, S.H. & Brânzei, R. & Muto, S.**2002-116 On Cores and Stable Sets for Fuzzy Games***by*Tijs, S.H. & Brânzei, R. & Ishihara, S. & Muto, S.**2002-115 Fuzzy Clan Games and Bi-monotonic Allocation Rules***by*Tijs, S.H. & Brânzei, R. & Muto, S. & Ishihara, S. & Fukuda, E.**2002-114 Robust One Period Option Modelling***by*Lutgens, F. & Sturm, J.F.**2002-113 Characterizations of Solutions in Digraph Competitions***by*Quant, M. & Borm, P.E.M. & Reijnierse, J.H. & Voorneveld, M.**2002-112 On the Convexity of Precedence Sequencing Games***by*Hamers, H.J.M. & Klijn, F. & Velzen, S. van**2002-111 Survival, Look-Ahead Bias and the Persistence in Hedge Fund Performance***by*Baquero, G. & Horst, J.R. ter & Verbeek, M.J.C.M.**2002-110 Backtesting for Risk-Based Regulatory Capital***by*Kerkhof, F.L.J. & Melenberg, B.**2002-109 Multiple Fund Investment Situations and Related Games***by*Wintein, S. & Borm, P.E.M. & Hendrickx, R.L.P. & Quant, M.**2002-108 Perfection and Stability of Stationary Points with Applications in Noncooperative Games***by*Laan, G. van der & Talman, A.J.J. & Yang, Z.F.**2002-107 A General Existence Thorem of Zero Points***by*Herings, P.J.J. & Koshevoy, G.A. & Talman, A.J.J. & Yang, Z.F.**2002-106 Collective vs Individual Sale of TV Rights in League Sports***by*Falconieri, S. & Palomino, F.A. & Sakovics, J.**2002-105 From parent to Child: Early Labor Market Experiences of Second-Generation Immigrants in the Netherlands***by*Ours, J.C. van & Veenman, J.M.C.**2002-104 The Impact of Ownership Structure on Firm Performance: Evidence From a Large Emerging Market***by*Douma, S.W. & George, R. & Kabir, M.R.**2002-103 Toward a Unified Europe? Explaining Cultural Differences by Economic Development, Cultural Heritage and Historical Shocks***by*Beugelsdijk, S. & Schaik, A.B.T.M. van**2002-102 Equilibrium Asset Pricing with Time-Varying Pessimism***by*Sbuelz, A. & Trojani, F.**2002-101 The Rise and Fall of the European New Markets: On the Short and Long-Run Performance of High-Tech Initial Public Offerings***by*Goergen, M. & Khurshed, A. & McCahery, J.A. & Renneboog, L.D.R.**2002-100 The European UMTS-auction***by*Damme, E.E.C. van**2002-99 An Irregular Grid Approach for Pricing High Dimensional American Options***by*Berridge, S.J. & Schumacher, J.M.**2002-98 Cyclical Fluctuations in Workplace Accidents***by*Boone, J. & Ours, J.C. van**2002-97 Egalitarianism in Convex Fuzzy Games***by*Brânzei, R. & Dimitrov, D.A. & Tijs, S.H.**2002-96 How to Cope with Division Problems under Interval Uncertainty of Claims?***by*Brânzei, R. & Dimitrov, D.A. & Pickl, S. & Tijs, S.H.**2002-95 Behavioral Preferences for Individual Securities: The Case for Call Warrants and Call Options***by*Horst, J.R. ter & Veld, C.H.**2002-94 Simulating an (R,s,S) Inventory System***by*Strijbosch, L.W.G. & Moors, J.J.A.**2002-93 The Choice between Rights-Preserving Issue Methods: Regulatory and Financial Aspects of Issuing Seasoned Equity in the UK***by*Korteweg, A.G. & Renneboog, L.D.R.**2002-92 Empirical Likelihood based on Hypothesis Testing***by*Einmahl, J.H.J. & McKeague, I.W.**2002-91 Organizational Culture and Network Embeddedness***by*Noorderhaven, N.G. & Koen, C.I. & Beugelsdijk, S.**2002-90 Enumeration of Cospectral Graphs***by*Haemers, W.H. & Spence, E.**2002-89 Does Good Corporate Governance Lead to Stronger Productivity Growth?***by*Koeke, J. & Renneboog, L.D.R.**2002-88 Inheritance of Properties in NTU Communication Situations***by*Hendrickx, R.L.P.**2002-87 Semi-parametric Models for Satisfaction with Income***by*Bellemare, C. & Melenberg, B. & Soest, A.H.O. van**2002-86 Softening Competition by Enhancing entry: An Example from the Banking Industry***by*Bouckaert, J.M.C. & Degryse, H.A.**2002-85 Organizing Education by Drawing on Organizational Studies***by*Romme, A.G.L.**2002-84 Inequality, trust and growth: An experimental study***by*Sadrieh, A. & Verbon, H.A.A.**2002-83 The Constrained Equal Award Rule for Bankruptcy Problems with a Priori Unions***by*Casas-Mendez, B. & Borm, P.E.M. & Carpente, L. & Hendrickx, R.L.P.**2002-82 Adaptive Multidimensional Scaling: The Spatial Representation of Brand Consideration and Dissimilarity Judgments***by*Bijmolt, T.H.A. & Wedel, M. & DeSarbo, W.S.**2002-81 Symmetric Equilibrium Strategies in Game Theoretical Real Option Models***by*Thijssen, J.J.J. & Huisman, K.J.M. & Kort, P.M.**2002-80 Aggressive Orders and the Resiliency of a Limit Order Market***by*Degryse, H.A. & Jong, F.C.J.M. de & Ravenswaaij, M. van & Wuyts, G.**2002-79 On the Nash Bargaining Solution with Noise***by*Güth, W. & Ritzberger, K. & Damme, E.E.C. van**2002-78 Two-Step Sequential Sampling for Gamma Distributions***by*Moors, J.J.A. & Strijbosch, L.W.G.**2002-77 Estimation of the Mean of a Univariate Normal Distribution When the Variance is not Known***by*Danilov, D.L. & Magnus, J.R.**2002-76 Forecast Accuracy after Pretesting with an Application to the Stock Market***by*Danilov, D.L. & Magnus, J.R.**2002-75 Group Testing Models with Processing Times and Incomplete Identification***by*Bar-Lev, S.K. & Stadje, W. & Duyn Schouten, F.A. van der**2002-74 Hypergeometric Group Testing with Incomplete Information***by*Bar-Lev, S.K. & Stadje, W. & Duyn Schouten, F.A. van der**2002-73 Implementation of Interior Point Methods for Mixed Semidefinite and Second Order Cone Optimization Problems***by*Sturm, J.F.**2002-72 The Dutch UMTS-auction***by*Damme, E.E.C. van**2002-71 Competitive Equilibria in Economies with Multiple Divisible and Multiple Divisible Commodities***by*Koshevoy, G.A. & Talman, A.J.J.**2002-70 Spillovers and Strategic Cooperative Behaviour***by*Thijssen, J.J.J. & Hendrickx, R.L.P. & Borm, P.E.M.**2002-69 Modeling Comovements in Trading Intensities to Distinguish Sector and Stock Specific News***by*Spierdijk, L. & Nijman, T.E. & Soest, A.H.O. van**2002-68 The Managerial Labor Market and the Governance Role of Shareholder Control Structures in the UK***by*Renneboog, L.D.R. & Trojanowski, G.**2002-67 Estimating Mean and Variance Through Quantiles: An Experimental Comparison of Different Methods***by*Moors, J.J.A. & Strijbosch, L.W.G. & Groenendaal, W.J.H. van**2002-66 Which Graphs are Determined by their Spectrum?***by*Dam, E.R. van & Haemers, W.H.**2002-65 Do Loyalty Programs Enhance Behavioral Loyalty: An Empirical Analysis Accounting for Program Design and Competitive Effects***by*Leenheer, J. & Bijmolt, T.H.A. & Heerde, H.J. van & Smidts, A.**2002-64 Response Surface Methodology's Steepest Ascent and Step Size Revisited***by*Kleijnen, J.P.C. & Hertog, D. den & Angun, M.E.**2002-63 Multivariate Regression with Monotone Missing Observation of the Dependent Variables***by*Raats, V.M. & Genugten, B.B. van der & Moors, J.J.A.**2002-62 Saving and Habit Formation: Evidence from Dutch Panel Data***by*Alessie, R.J.M. & Teppa, F.**2002-61 Dynamic Adjustment of Supply Constrained Disequilibria to Walrasian Equilibrium***by*Laan, G. van der & Talman, A.J.J.**2002-60 The Locking-In Effect of Subsidized Jobs***by*Ours, J.C. van**2002-59 On Strategy and Relative Skill in Poker***by*Dreef, M.R.M. & Borm, P.E.M. & Genugten, B.B. van der**2002-58 Statistical Analysis of Random Simulations: Bootstrap Tutorial***by*Deflandre, D. & Kleijnen, J.P.C.**2002-57 The Optimal Taxation of UnskilIed Labor with Job Search and Social Assistance***by*Boone, J. & Bovenberg, A.L.**2002-056 When do German Firms Change their Dividends?***by*Correia da Silva, L. & Goergen, M. & Renneboog, L.D.R.**2002-55 Auctions with Options to Re-auction***by*Grant, S. & Kajii, A. & Menezes, F. & Ryan, M.**2002-54 Does Monetary Policy Affect the Central Bank's Role in Bank Supervision?***by*Ioannidou, V.**2002-53 Convexity and Marginal Vectors***by*Velzen, S. van & Hamers, H.J.M. & Norde, H.W.**2002-52 The Hartwick Rule: Myths and Facts***by*Asheim, G.B. & Buchholz, W. & Withagen, C.A.A.M.**2002-51 Drop Out Monotonic Rules for Sequencing Situations***by*Fernández, C. & Borm, P.E.M. & Hendrickx, R.L.P. & Tijs, S.H.**2002-50 Shareholder Wealth Effects of European Domestic and Cross-Border Takeover Bids***by*Goergen, M. & Renneboog, L.D.R.**2002-49 On the Balancedness of Relaxed Sequencing Games***by*Velzen, S. van & Hamers, H.J.M.**2002-48 Welfare Effects of Employment Protection***by*Belot, M.V.K. & Boone, J. & Ours, J.C. van**2002-47 Divestment, Entrepreneurial Incentives and the Decision to go Public***by*Wagner, W.B.**2002-46 Lock-In Agreements in Venture Capital Backed UK IPOs***by*Espenlaub, S. & Goergen, M. & Khurshed, A. & Renneboog, L.D.R.**2002-45 Post Earnings Announcement Drift: More Risk than Investors can Bear***by*Suijs, J.P.M.**2002-44 The Effectiveness of Caps on Political Lobbying***by*Matejka, M. & Onderstal, A.M. & De Waegenaere, A.M.B.**2002-43 Allocation of Railway Rolling Stock for Passenger Trains***by*Abbink, E. & Berg, B. van den & Kroon, L.G. & Salomon, M.**2002-42 Market Efficiency and Price Formation When Dealers are Asymmetrically Informed***by*Calcagno, R. & Lovo, S.M.**2002-41 Knowledge Externalities, Agglomeration Economies, and Employment Growth in Dutch Cities***by*Soest, D.P. van & Gerking, S.D. & Oort, F.G. van**2002-40 On Smiles, Winks, and Handshakes as Coordination Devices***by*Manzini, P. & Sadrieh, A. & Vriend, N.J.**2002-39 How to Play 3x3 Games: A Strategy Method Experiment***by*Selten, R. & Abbink, K. & Buchta, J. & Sadrieh, A.**2002-38 Fairness, Public Good, and Emotional Aspects of Punishment Behavior***by*Abbink, K. & Sadrieh, A. & Zamir, S.**2002-37 An Experimental Analysis of Optimal Renewable Resource Management: The Fishery***by*Hey, J.D. & Neugebauer, T. & Sadrieh, A.**2002-36 Insurance and Information: Firms as a Commitment Device***by*Bovenberg, A.L. & Teulings, C.N.**2002-35 The Chopstick Auction***by*Onderstal, A.M.**2002-34 Socially Optimal Mechanisms***by*Onderstal, A.M.**2002-33 Auctions for Extra Capacity in an Oligopolistic Market with Network Effects***by*Onderstal, A.M.**2002-32 One Money, But Many Fiscal Policies in Europe: What are the Consequences?***by*Uhlig, H.F.H.V.S.**2002-31 What are the Effects of Fiscal Policy Shocks?***by*Mountford, A.W. & Uhlig, H.F.H.V.S.**2002-30 An Empirical Analysis of the Role of the Trading Intensity in Information Dissemination on the NYSE***by*Spierdijk, L.**2002-29 The Price Impact of Trades in Illiquid Stocks in Periods of High and Low Market Activity***by*Spierdijk, L. & Nijman, T.E. & Soest, A.H.O. van**2002-28 Observational Equivalence of Discrete String Models and Market Models***by*Kerkhof, F.L.J. & Pelsser, A.**2002-27 Model Risk and Regulatory Capital***by*Kerkhof, F.L.J. & Melenberg, B. & Schumacher, J.M.**2002-26 Two-Stage Bargaining with Reversible Coalitions: The Case of Apex Games***by*Montero, M.P.**2002-25 Social Security Reform and Population Ageing in a Two-Sector Growth Model***by*Groezen, B.J.A.M. van & Meijdam, A.C. & Verbon, H.A.A.**2002-24 General-Equilibrium Effects of Privatisation: The Missing Piece in Social Security Reform***by*Groezen, B.J.A.M. van & Meijdam, A.C. & Verbon, H.A.A.**2002-23 'Be Nice Unless it Pays to Fight': A New Theory of Price Determination with Implications for Competition Policy***by*Boone, J.**2002-22 Auctions with Financial Externalities***by*Maasland, E. & Onderstal, A.M.**2002-21 Optimal Auctions with Financial Externalities***by*Maasland, E. & Onderstal, A.M.**2002-20 A Pint a Day Raises a Man's Pay; But Smoking Blows that Gain Away***by*Ours, J.C. van**2002-19 The Effect of Benefit Sanctions on the Duration of Unemployment***by*Lalive, R. & Ours, J.C. van & Zweimüller, J.**2002-18 Discretization of Information Collecting Situations and Continuity of Compensation Rules***by*Brânzei, R. & Scotti, F. & Tijs, S.H. & Torre, A.**2002-17 Approximate Fixed Point Theorems in Banach Spaces with Applications in Game Theory***by*Brânzei, R. & Morgan, J. & Scalzo, V. & Tijs, S.H.**2002-16 Distance, Lending Relationships and Competition***by*Degryse, H.A. & Ongena, S.**2002-15 Cooperation by Asymmetric Agents in a Joint Project***by*Brânzei, R. & Inarra, E. & Tijs, S.H. & Zarzuelo, J.

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