We compare two commonly used mechanisms in public procurement: auctions and negotiations. The execution of the procurement mechanism is delegated to an agent of the buyer. The agent has private…

While binding reverse auctions have attracted a good deal of interest in the academic literature, in practice dynamic non-binding auctions, sometimes referred to as bidding contests, are the norm in…

In recent years considerable interest has developed in going 'beyond GDP' to develop measures of economic progress which are more explicitly based on human wellbeing. This work has been inspired, in part, by…

China recently surpassed the USA as the greatest global source of patent applications. However, without internationally comparable measures of patent quality it remains questionable whether China's patent…

• Dynamism in German M&A Market Continues
• Mergers and Acquisitions Between Russia and OECD Members Collapse
• M&A Activity in Europe’s Water Industry Follows No General Trends
• US Megadeals Play Vital Role in World Oil…

We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of…

• International Financial Market Data — Assessments and Expectations
• Equity Markets Expected to Recover
• Analysts Expect the Franc to Weaken
• Inflation Expectations Unchanged
• Interest Rate Expectations Unchanged
• Long-Te…

In the presence of heteroscedasticity, conventional standard errors (which assume homoscedasticity) can be biased up or down. The most common form of heteroscedasticity leads to conventional standard errors that…