HB Economic Theory

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This thesis composes of four empirical studies with an attempt to assess the role of institutions as key determinant of cross-country development. We have unbundled the different facets of institutions, including the security of property rights, democracy, regulation and stabili…

This thesis presents an experimental investigation of free riding behaviour and, more particularly, individual responses to it using, as a workhorse, the so called public goods game. This game starkly isolates the conflict between private and collective interest, providing us wi…

The aim of this thesis is the development of a political economy of large accounting and auditing firms. The importance of this lies in the rapid growth of these firms and the lack of appropriate theories. Economists have applied the theory of the firm to accounting and have app…

Regret is a negative emotion experienced upon the realisation that, had an alternative course of action been chosen, your current situation could have been improved. Psychologists and behavioural economists have long been interested in the extent to which both the anticipation a…

This thesis consists of three chapters, in which I examine recent developments in the area of international finance. In Chapter 2, I introduce a new class of hybrid exchange rate models that combine macroeconomic variables with information from a foreign exchange interdealer tra…