Helmut Max Dietl, Post: Wie die Grundversorgung den Wettbewerb verzerrt und regulatorische Eingriffe erfordert, In: Mehr Markt für den Service public - Warum die Schweizer Infrastrukturversorgung weniger Wettbewerb braucht, Neue Zürcher Zeitung, Zürich, p. 177 - 193, 2012. (Book Chapter)
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Helmut Max Dietl, Egon Franck, Martin Grossmann, Markus Lang, Contest theory and its applications in sports, In: The Oxford Handbook of Sports Economics, Oxford University Press, New York, USA, p. 400 - 421, 2012. (Book Chapter)
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Egon Franck, Stephan Nüesch, Talent and/or Popularity: What Does It Take to Be a Superstar?, Economic Inquiry, Vol. 50 (1), 2012. (Journal Article)
We show that both talent and popularity significantly contribute to stars' market values in German soccer. The talent-versus-popularity controversy on the sources of stardom goes back to Rosen (1981) and Adler (1985). All attempts to resolve the controversy empirically face the difficulty of accurately identifying talent. In professional sports, rank-order tournaments help in ascertaining talent. Analyzing a team setting, we use 20 different performance indicators to estimate a player's talent according to his ability to increase the team's winning probability. |
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Stephan Nüesch, Dual-class shares and firm value: Evidence from a natural experiment, In: Strategic Management Society Annual International Conference. 2011-11-06. (Conference Presentation)
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Stephan Nüesch, Dual-class shares and firm value: Evidence from a natural experiment, In: Zurich Workshop of Economics. 2011-09-08. (Conference Presentation)
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Raphael Flepp, Stephan Nüesch, Egon Franck, Market Structures and Informational Efficiency: Explaining Inter-Market Price Deviations in the Betting Industry, In: WEAI Conference 2011. 2011-06-29. (Conference Presentation)
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Egon Franck, Ist es an der Zeit, die Aktionärsrechte zu stärken?, In: Dies Academicus 2011. 2011-04-30. (Conference Presentation)
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Stephan Nüesch, Shared ownership versus third-party ownership, In: Wissenschaftliche Kommission Organisation (WK ORG). 2011-02-23. (Conference Presentation)
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Stephan Nüesch, Are multinational teams more successful?, In: Seminar "Personnel Economics" with Ed Lazear. 2011-02-06. (Conference Presentation)
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Urs Meister, Stromversorgung - Neue AKW und private Investoren, In: Handelszeitung, 5, p. 7, 3 February 2011. (Newspaper Article)
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Egon Franck, Stephan Nüesch, The effect of wage dispersion on team outcome and the way team outcome is produced, Applied Economics, Vol. 43 (23), 2011. (Journal Article)
The impact of intra-team pay dispersion on team productivity is a highly discussed issue. On the one hand, wage differentials provide incentives for higher employee effort. On the other hand, pay inequality may reduce team cohesiveness and increase feelings of relative deprivation leading to lower performance. Analysing nonlinear effects of wage dispersion in professional soccer, we find empirical evidence that team performance is strongest when there is either very high or very low wage inequality. Medium levels produce the weakest team performance. In addition, we show that the pay structure affects the team's playing style even after controlling for team and coach heterogeneity. We discuss the theoretical and managerial implications as well as the limits of generalization. |
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Egon Franck, Stephan Nüesch, Jan Pieper, Specific human capital as a source of superior team performance, Schmalenbach Business Review (sbr), Vol. 63, 2011. (Journal Article)
We empirically investigate the performance effect of team-specific human capital in highly interactive teams. Based on the tenets of the resource-based view of the firm
and on the ideas of typical learning functions, we hypothesize that team members’ shared experience in working together have a positive effect on team performance, but at diminishing rates. When we hold constant a team’s stock of general human capital and other potential drivers, we find support for this prediction. We also discuss the implications concerning investment decisions into human capital as well as the transferability of our findings to other contexts. |
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Egon Franck, Erwin Verbeek, Stephan Nüesch, Sentimental preferences and the organizational regime of betting markets, Southern Economic Journal, Vol. 78 (2), 2011. (Journal Article)
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Stefan Boes, Stephan Nüesch, Quasi-experimental evidence on the effect of aircraft noise on apartment rents, Journal of Urban Economics, Vol. 69 (2), 2011. (Journal Article)
Inferring the implicit price of an environmental good hinges on ceteris paribus conditions that are often hard to justify. This paper uses an unexpected change in flight regulations as source of exogenous variation and identifies aircraft noise effects from price adjustments in the market for rental apartments. Controlling for spatial and apartment heterogeneity, we find that aircraft noise reduces apartment rents by about 0.5% per decibel. Our results indicate (i) that noise discounts are overestimated in cross-sectional studies because aircraft noise tends to be negatively correlated with omitted neighborhood and housing amenities and (ii) that noise effects are unlikely to be constant over the entire noise range. |
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Egon Franck, Ist es an der Zeit, die Aktionärsrechte zu stärken?, Die Unternehmung, Vol. 65 (3), 2011. (Journal Article)
Forderungen nach mehr Aktionärsdemokratie finden zunehmende gesellschaftliche und auch akademische Akzeptanz. Der Beitrag er- läutert, weswegen sie dennoch falsch sind, und empfiehlt eine Rück- besinnung auf die Kernelemente der Board Primacy im Falle anste- hender Aktienrechtsrevisionen. |
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Sybille Sachs, Edwin Rühli, Stakeholders Matter : A New Paradigm for Strategy in Society, Cambridge University Press, Cambridge, 2011. (Book/Research Monograph)
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Egon Franck, Erwin Verbeek, Stephan Nüesch, Sentimental Preferences and the Organizational Regime of Betting Markets, Southern Economic Journal, Vol. 78 (2), 2011. (Journal Article)
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Reto Foellmi, Urs Meister, Enhancing the Efficiency of Water Supply - Product Market Competition Versus Trade, Journal of Industry, Competition and Trade, Vol. 12 (3), 2011. (Journal Article)
In most developed countries, the provision of water is organized at a local level. The costs and tariffs vary significantly, even between adjacent water utilities. Such heterogeneity is an obvious indication of the sector’s overall inefficiency and stresses a need for institutional adjustments. We show that cooperation by water trade and the introduction of competition by common carriage between adjacent utilities are valuable alternatives to improve the industry’s efficiency, even when mergers are not feasible. Because both approaches require the physical connection of neighboring networks, they may have similar effects. This paper analyzes and compares the relevant welfare gains and shows that production efficiency and retail prices may differ depending on the initial cost differential, the application of regulations and the distribution of bargaining power. Using a theoretical model, we show that at higher initial production cost differentials, welfare is higher under competitive conditions, even in a lower-bound benchmark case without any regulation. |
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Stefan Boes, Stephan Nüesch, Quasi-Experimental Evidence on the Effect of Aircraft Noise on Apartment Rents, Journal of Urban Economics, Vol. 69, 2011. (Journal Article)
Inferring the implicit price of an environmental good hinges on ceteris paribus conditions that are often hard to justify. This paper uses an unexpected change in flight regulations as source of exogenous variation and identifies aircraft noise effects from price adjustments in the market for rental apartments. Controlling for spatial and apartment heterogeneity, we find that aircraft noise reduces apartment rents by about 0.5% per decibel. Our results indicate (i) that noise discounts are overestimated in cross-sectional studies because aircraft noise tends to be negatively correlated with omitted neighborhood and housing amenities, and (ii) that noise effects are unlikely to be constant over the entire noise range. |
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Urs Meister, Energiesicherheit ohne Autarkie – Die Schweiz im globalen Kontext, Verlag Neue Zürcher Zeitung, Zürich, 2010-12. (Book/Research Monograph)
Verlagstext (http://www.nzz-libro.ch): Begrenzte Reserven und der wachsende Energiehunger aufstrebender Volkswirtschaften schaffen Unsicherheiten über die künftige Energieversorgung. Energie ist nicht mehr nur im Fokus der Wirtschafts- und Klimapolitik, sondern auch der Sicherheits- und Aussenpolitik. Dennoch oder gerade deshalb fehlt es in der Schweiz an einer kohärenten Energiestrategie. Viele Ansätze vernachlässigen den internationalen Kontext, die Zusammenhänge zwischen den Energieträgern und die Funktionsweise der Märkte.
Urs Meister stellt hier die globalen, europäischen und nationalen Märkte und Versorgungsstrukturen für Öl, Gas und Strom dar und zeigt auf, welchen Risiken die Schweiz ausgesetzt ist. Das Buch schliesst eine Lücke, indem es die Energieversorgung der Schweiz im internationalen Kontext untersucht, auf entstehende Probleme hinweist und Lösungsvorschläge präsentiert. |
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