Bidding in first-price auctions crucially depends on the beliefs of the bidders about their competitors' willingness to pay. We analyze bidding behavior in a first-price auction in which the knowledge of…

I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps.…

We consider the problem of a principal who wishes to contract with a privately informed agent and is not able to commit to not renegotiating any mechanism. That is, we allow the principal, after observing…

Using a lab experiment, we investigate the real-life performance of envy-free and proportional cake-cutting procedures with respect to fairness and preference manipulation. We nd that envy-free…

I study the problem of allocating objects among agents without using money. Agents can receive several objects and have dichotomous preferences, meaning that they either consider objects to be acceptable…

• The Downturn Continues
• Further Nosedive in Bricks-and-Mortar Retail
• Refinancing Conditions Expected to Worsen
• Prices Driven More by the Lack of Alternative Investments than Interest Rates

The aim of this study is to determine effective tax rates for the 28 EU countries as well as Switzerland, Norway, Republic of Macedonia, Turkey, USA, Canada and Japan. The calculation of domestic and…

This paper estimates the incidence of corporate taxes on wages using a 20-year panel of German municipalities exploiting 6,800 tax changes for identification. Using event study designs and…