Een produktieproces in ontwikkeling

Waarin de lezer wordt rondgeleid in een fabriek die met behulp van econometrische methoden kwantitativee economische beleidsadviezen produceert; en waarin enige voordelen worden geschilderd van het vervangen van machines van het merk Neyman-Pearson door machines van het merk Bayes. Rede uitgesproken bij de aanvaarding van ambt van gewoon hoogleraar in de econometrie aan de Nederlandse Economische Hogeschool, te Rotterdam op 8 februari 1968. 1) Zie Tinbergen (1936); voor een Engelse vertaling: Tinbergen (1959).     

Project Termination Decisions,Underinvestment and Overinvestment*

In this article, I use the principal‐agent framework to examine the incentives of risk‐and work‐averse agents to work on projects that are long‐term, multistage, and subject to abandonment. Periodic applications of effort by the agent are required. The agent also obtains private information as the project evolves, and he decides whether the project should be abandoned or continued. The principal not only seeks to provide incentives to induce the agent to take up such risky investments and work hard at them, but also seeks to provide incentives for the agent to abandon the project if the profit prospect is low. We show that the agent's decision to continue is not always aligned with the principal's desire. The result provides an economic rationale for the sunk cost phenomenon. There also exist conditions under which the agent chooses to prematurely abandon the project.     

What Factors Keep Cash Alive in the European Union?

This paper aims to analyze the determinants of cash usage in a selection of European Union (EU) countries over the 2003–2016 period, based on a set of technological, socioeconomic, and socio-cultural indicators and cost components. Our results reveal the existence of both common and region-specific determinants for the EU advanced and Central and Eastern European (CEE) countries. In both groups cash usage is determined by payment system characteristics. Additionally, in the EU advanced countries cash usage can also be explained by the level of economic development and income inequalities and proliferation of Internet. In contrast, cash usage in CEE countries is negatively associated with consumer confidence and is inversely related to the technological progress, expressed in terms of mobile users.

     

Towards developing financial management strategies for land reform beneficiaries in the Bloem‐fontein/Thaba Nchu area of the Free State province of South Africa

This article is based on research that was carried out to design financial management strategies for emerging farmers, and examines the financing problems anticipated for the beneficiaries of land reform in the Free State province. Discussions focus on criteria for detecting impending financial problems, in particular liquidity problems, and are based on the analysis of data gathered from emerging farmers by means of interviews and a questionnaire.