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Natural Gas Vehicles: An Option for Europe

In Europe natural gas vehicles play a minor role. A decisive reason for this is the dependence of most European countries from gas imports. Except for Italy, there is no tradition to use natural gas as fuel. In addition, there is a lack of infrastructure (e.g. fuelling stations). In contrast to Europe, in Latin American and Asian countries natural gas vehicles are widespread. Some countries foster ...

Credit for What? Informal Credit as a Coping Strategy of Market Women in Northern Ghana

This paper explores the use of informal credit as a strategy for managing risks by market women in northern Ghana. A broad concept of the costs of risk management strategies is introduced and encompasses both a time and monetary dimension. Based on qualitative data, the analysis reveals that market women invest a considerable amount of time in maintaining complex networks of informal credit providers ...

The Spill-over Effects of Conflict on Economic Growth in Neighbouring Countries in Africa

In this article, the influence of conflict on the economies of neighbouring countries is discussed. The results from previous papers show a strong negative effect for an entire area around a country suffering from conflict, but this paper reaches a different conclusion, by using more recent data and adjusting the methodology previously employed. Additionally, a new type of contiguity matrix is constructed ...

The Set Point Theory of Well-Being Has Serious Flaws: On the Eve of a Scientific Revolution?

Set-point theory is the main research paradigm in the field of subjective well-being (SWB). It has been extended and refined for 30 years to take in new results. The central plank of the theory is that adult set-points do not change, except temporarily in the face of major life events. There was always some "discordant data", including evidence that some events are so tragic (e.g. the death of one's ...

An Economic Analysis of Dismissal Legislation: Determinants of Severance Pay in West Germany

Severance pay is a vital part of employment protection legislation (EPL). We investigate the incidence and level of severance pay for dismissed employees. Our theoretical model predicts that not only the law and its interpretation by labour courts but also the costs of a suit have an impact. Using West German panel data for 1991-2006, we find that theemployees' costs resulting from a suit and the legal ...

Les descendants de migrants maghrébins en France et turcs en Allemagne: deux types de mise à distance sociale

Telling the Truth May Not Pay Off: An Empirical Study of Centralized University Admissions in Germany

Matching university places to students is not as clear cut or as straightforward as it ought to be. By investigating the matching algorithm used by the German central clearinghouse for university admissions in medicine and related subjects, we show that a procedure designed to give an advantage to students with excellent school grades actually harms them. The reason is that the three-step process employed ...

The Impact of Risk Attitudes on Entrepreneurial Survival

Risk attitudes influence the complete life cycle of entrepreneurs. Whereas recent research underpins the theoretical proposition of a positive correlation between risk attitudes and the decision to become self-employed, the effects on survival are not as straightforward. Psychological research posits an inverse U-shaped relationship between risk attitudes and entrepreneurial survival. On the basis ...

Accidents, Liability Obligations and Monopolized Markets for Spare Parts

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the markets for their spare parts. We show that monopolized markets for spare parts lead to inefficiently high prices for spare parts. Furthermore, monopolization induces the manufacturers to choose inefficiently high qualities. The key for these results is the observation that high prices ...

On the Investment Sensitivity of Debt under Uncertainty

We investigate the impact of debt on a panel of U.S. manufacturing firms' capital investment behavior as the underlying firm-specific and market-level uncertainty changes. Our estimates show that the influence of leverage on capital investment may be stimulating or mitigating depending on the effects of uncertainty.