infonet-economy

We present a theoretical basis for testing related endpoints. Typically, it is known hownto construct tests of the individual hypotheses, and the problem is how to combine them into a multiple test procedure that controls the familywise error rate. Using the closure method, we emphasize the role of consonant procedures, from an interpretive as well as a theoretical viewpoint....

"Consider the problem of testing s hypotheses simultaneously. In this paper, we derive methods which control the generalized familywise error rate given by the probability of k or more false rejections, abbreviated k-FWER. We derive both single-step and stepdown procedures that control the k-FWER in finite samples or asymptotically, depending on the situation. Moreover, the...

We analyze task allocation and randomization in Principal Agent models. We identify a new rationale that determines the allocation of tasks and show that it can be optimal to assign tasks that are very different to one agent. Similar to randomization, the reason to assign several tasks to one agent is to mitigate the effect of the participation constraint. We show that the allocation...

The search for economically e?cient policy instruments designed to promote the diffusion of renewable energy technologies in liberalized markets has led to the introduction of quota-based tradable ‘green’ certi?cate (TGC) schemes for renewable electricity. However, there is a debate about the pros and cons of TGC, a quantity control policy, compared to guaranteed feed-in tariffs, a...

This paper provides new empirical evidence for the effect of corporate social responsibility (CSR) on corporate financial performance. In contrast to former studies, we examine two different regions, namely the USA and Europe. Our econometric analysis shows that envi-ronmental and social activities of a firm compared with other firms within the industry are valued by financial...

This paper provides further evidence on the recent increase in international consumption risk sharing. We show that this increase is more pronounced among EU and EMU countries than among non-E(M)U industrialised countries. We also show that the patterns of international but intra-European risk
sharing have started to diverge from what is found at the level of the OECD as a...

Am Swiss Meeting vom 31. Mai 2008 in Genf ist die Schweizer Sprintstaffel der Männer die 4×100 Meter in 39,02 Sekunden gelaufen und verbesserte damit den nahezu 30 Jahre alten Landesrekord vom 5. August 1978 um 0,17 Sekunden. Interessanterweise fand dieser Rekordlauf in den Medien so gut wie keine Beachtung. Eine Woche vor Beginn der Fussball-Europameisterschaft konzentrierte sich...