This paper discusses the design, implementation and use of standards from the perspective of transaction costs economics. A proper design and implementation of standards may lead to a considerable reduction of transaction costs, which enhances trade and, consequently, economic welfare. A major...

One of the drivers of green consumerism are social network externalities that are associated with buying 'green' because green consumerism is fashionable, or because of reputation effects. We analyze how the strength of this social network effect impacts green consumerism, environmental...

In this era of globalisation the traditional Ricardian theory of trade in products governed by comparative advantages is replaced by a modern theory of trade in tasks. Tasks are outsourced to those places in the world where the lower production costs outweigh the additional transaction costs...

This era of globalisation is characterized by an ongoing international fragmentation of production where the supply chain is split up in more and more parts. The traditional Ricardian theory of trade in products governed by comparative advantages is replaced by a modern theory of trade in tasks....

The organization of Electronic Dance Music (EDM) events has become a major export product in the Netherlands. In order to respond quickly to the new trends and needs, innovative forms of cooperation between producers are to be set up for the organization of exciting new events. A case study on...

This paper examines how a radical technological innovation affects alliance formation of firms and subsequent network structures. We use longitudinal data of interfirm R&D collaborations in the biopharmaceutical industry in which a new technological regime is established. Our findings suggest...

Growth empirics with institutional measures is performed for 25 transition countries overthe period 1990-95. Estimation results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment (FDI), the latter in turnbeing important for the...

We analyze resource extraction in a political economy setting by introducing a political leader who optimizes both his own and the society's welfare function. We find that accounting for the private utility of a political elite, its higher discount rate and a different time horizon generally...

This study uses the methods of experimental economics to investigate possible causes for the failure of the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are high enough, producers may choose to (partially) ignore the dynamic component of their production...

Following formal privatisation of farm land and assets in CentralEurope, the change in agriculturalproduction structures has been both more limited and different thanwas initially expected. In this paper, thetheoretical reasons underlying those expectations are reviewed. Analternative...