The empirical literature is inconclusive about whether a country's democratization has a long-lasting impact on former supporters or opponents of the bygone regime. With newly available individual-level data of…

Recent empirical evidence has shown that firm’s innovation behavior exhibits high persistency but not much is known about potential contingencies affecting the degree of persistence. This paper focuses on the…

We simulate the short- and long-term distributional consequences of COVID-19 in the four largest Latin American economies: Argentina, Brazil, Colombia and Mexico. We show that the short-term impact on income…

In the classical cake-cutting problem, strategy-proofness is a very costly requirement in terms of fairness: for n=2 it implies a dictatorial allocation, whereas for n ≥ 3 it implies that one agent receives no…

Using two lab experiments, we investigate the real-life performance of envy-free and proportional cake-cutting procedures with respect to fairness and preference manipulation. Although the observed subjects'…

Many business-owning families aspire to someday transfer their firm to the next family generation. Controversy surrounds the question of how these transgenerational intentions affect risky growth strategies such…