ZEW Discussion Papers

As a group, market forecasters are egregiously overconfident. In conformity to the dynamic model of overconfidence of Gervais and Odean (2001), successful forecasters become more overconfident. What’s more, more…

The choice of the appropriate sales mode belongs to the firm’s most important strategic decisions after entering into a foreign market. Thus, it is important that the selected foreign sales mode best suits a…

This paper investigates whether firms innovate persistently or discontinuously over time using an innovation panel data set on German manufacturing and service firms for the period 1994–2002. We find that…

The majority of industrial organizations literature on network externalities looks at firm behavior under given market characteristics. The present paper instead asks the question whether the presence of network…

In this paper, we study the effect of skill-biased technological change on unemployment when benefits are linked to the evolution of average income and when this is not the case. In the former case, an increase…

This paper uses Granger non{causality tests to analyze if channel competition exists between the companion websites of 93 German newspapers observed between I/1998 and II/2005. It provides econometric evidence…

Based on unique administrative data, which has only recently become available, this paper estimates the employment effects of the most important type of public sector sponsored training in Germany, namely the…

Zahlreiche Studien weisen auf hohe Misserfolgsquoten von Unternehmenszusammenschlüssen hin, messen dies jedoch vor allem anhand finanzieller Indikatoren, während eine mitarbeiterbezogene Betrachtung unterbleibt.…

This research investigates the hypothesis that publicly funded scientific research complements private R&D investment in the pharmaceutical industry. New microlevel data on public research investment by the…