infonet-economy

Even though betting exchanges are considered to be the superior business model in the betting industry due to less operational risk and lower information costs, bookmakers continue to be successful.We explain the puzzling coexistence of these two market structures with the advantage of guaranteed liquidity in the bookmaker market. Using matched panel data of over 1.8 million...

We analyze the factors that drive an individual’s self-selection decision between (1) working individually and being paid for individual performance and (2) working on a team and being paid for team performance. While the literature has focused on task specific ability as a self-selection criterion, we also investigate the effects of teamwork skills, expectations concerning the task...

Firms generate new knowledge that leads to innovations by recombining existing knowledge sources. A successful recombination depends on the availability of a knowledge stock (human capital pool) and the flow of knowledge within the firm (induced by HRM systems). While human resource theory expects complementarities between human capital pools and HRM systems, it does not explicitly...

We show in this paper that after proper scalings, the characteristic polynomial of a random unitary matrix converges to a random analytic function whose zeros, which are on the real line, form a determinantal point process with sine kernel. Our scaling is performed at the so-called “microscopic” level, that is we consider the characteristic polynomial at points whose distance to $1$...

Value and salience are key variables for associative learning, decision-making, and attention. In this chapter we review definitions of value and salience, and describe human neuroimaging studies that dissociate these variables. Value increases with the magnitude and probability of reward but decreases with the magnitude and probability of punishment, whereas salience increases with...