On externalities related to the use of exhaustible resources

We are grateful to our colleague Friedel Bolle and two anonymous referees for useful comments on earlier versions of the paper. The usual disclaimer applies.     

Price efficiency and trading behavior in limit order markets with competing insiders

We study price efficiency and trading behavior in laboratory limit order markets with asymmetrically informed traders. Markets differ in the number of insiders present and in the subset of traders who receive information about the number of insiders present. We observe that price efficiency (i) is the higher the higher the number of insiders in the market but (ii) is unaffected by changes in the subset of traders who know about the number of insiders present. (iii) Independent of the number of insiders, price efficiency increases gradually over time. (iv) The insiders’ information is reflected in prices via limit (market) orders if the asset’s value is inside (outside) the bid-ask spread. (v) In situations where limit and market orders yield positive profits, insiders clearly prefer market orders, indicating a strong desire for immediate transactions.     

Is there structure in the selection interview? Evidence from hotels in Switzerland

Many studies have shown that structured interviews have better predictive validity than unstructured interviews. The aim of this study was, then, to examine if recruiters in Swiss hotels use structured interviews to select candidates. Results obtained on 150 recruiters indicate that selection interviews are rather unstructured. They also show that selection interviews are more structured in larger hotels than in smaller hotels and in chain hotels than in independent hotels. Finally, and contrarily to one of the hypotheses, selection interviews are not more structured in four-star and five-star hotels than in three-star hotels.     

Andreas Vogel

Ohne Zusammenfassung

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Andreas Vogel