Bidding in first-price auctions crucially depends on the beliefs of the bidders. We analyze bidding behavior in a first-price auction in which the knowledge of the bidders about the distribution of the values…
I investigate the decision problem which arises in a game of incomplete information under two different types of uncertainty - uncertainty about other players’ type distributions and about other players’…
With the exception of Greece, Italy is the Eurozone country with the highest debt-to-GDP ratio (132 per cent). In absolute terms, the country accounts for almost one quarter of all government debt in the…
We analyze the causal effect of the credit supply shock to banks induced by interbank market disruptions in the recent financial crisis 2008/2009 on their business customers’ innovation activity. Using a…
This article investigates factors correlated with the suspension of electricity supply in German households because of utility arrears. Utility arrears and power cut-offs occur frequently in households which…
We propose a difference-in-differences (DiD) approach to estimate the impact of incentives on cost reduction. We show theoretically, and estimate empirically, that German electricity distribution system…
