Otto Toivanen

Aalto University - Department of Economics

PO Box 1210

FI-00101 Helsinki

Finland

KU Leuven - Faculty of Business and Economics (FBE)

Naamsestraat 69

Leuven, B-3000

Belgium

CEPR

London

United Kingdom

Helsinki Center of Economic Research (HECER)

FI-00014 Helsinki

Finland

SCHOLARLY PAPERS

29

DOWNLOADS
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SSRN RANKINGS

Top 17,953

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2,657

SSRN CITATIONS
Rank 5,592

SSRN RANKINGS

Top 5,592

in Total Papers Citations

20

CROSSREF CITATIONS

159

Scholarly Papers (29)

1.

Lazy Entrepreneurs or Dominant Banks? An Empirical Analysis of the Market for SME Loans in the UK

EFA 2002 Berlin Meetings Presented Paper; Warwick Business School SME Centre Working Paper, Cass Business School Research Paper
Number of pages: 38 Posted: 21 Feb 2002
Otto Toivanen and Robert Clive Cressy
Aalto University - Department of Economics and Birmingham Business School
Downloads 529 (51,538)
Citation 1

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optimal loan contracts, adverse selection, moral hazard, symmetric information, monopoly, empirical contract theory

2.
Downloads 344 ( 86,648)
Citation 5

Cartels Uncovered

NHH Dept. of Economics Discussion Paper No. 10/2010
Number of pages: 49 Posted: 25 Mar 2010
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 208 (145,965)
Citation 4

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Antitrust, cartel, competition, detection, Hidden Markov models.

Cartels Uncovered

Number of pages: 56 Posted: 29 Mar 2011
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 82 (303,341)

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antitrust, cartel, competition, detection, Hidden Markov models, illegal, legal, policy, registry

Cartels Uncovered

Number of pages: 56 Posted: 22 Jun 2011
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 50 (394,797)

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antitrust, cartel, competition, detection, Hidden Markov models, illegal, legal, policy, registry

Cartels Uncovered

CEPR Discussion Paper No. DP7761
Number of pages: 50 Posted: 05 Apr 2010
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 4 (650,273)
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antitrust, cartel, competition, detection, Hidden Markov models, illegal, legal, leniency, policy, registry

3.

Evaluating Innovation Policy: A Structural Treatment Effect Model of R&D Subsidies

Bank of Finland Research Discussion Paper No. 7/2008
Number of pages: 62 Posted: 12 Mar 2008
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 242 (126,269)
Citation 31

Abstract:

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applications, effort, investment, R&D, selection, subsidies, treatment programme, treatment effects, welfare

4.

Politics and Procurement: Evidence from Cleaning Contracts

HECER Discussion Paper No. 196
Number of pages: 43 Posted: 14 Jan 2008 Last Revised: 13 Aug 2009
Ari Hyytinen, Sofia Lundberg and Otto Toivanen
University of Jyväskylä, University of Umea - Department of Economics and Aalto University - Department of Economics
Downloads 201 (150,960)
Citation 13

Abstract:

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Efficiency, favoritism, politics, public procurement

5.

Monitoring and Market Power in Loan Markets

Bank of Finland Discussion Paper No. 9/2000
Number of pages: 49 Posted: 09 Jun 2002
Ari Hyytinen and Otto Toivanen
University of Jyväskylä and Aalto University - Department of Economics
Downloads 158 (187,146)

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banks, information acquisition, market power, fixed costs, branch network, default costs

6.

Equilibrium in Financial Markets with Adverse Selection

Bank of Finland Discussion Paper No. 6/2003
Number of pages: 48 Posted: 02 Oct 2003
Tuomas Takalo and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department and Aalto University - Department of Economics
Downloads 152 (193,299)

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7.

Heritability of Lifetime Income

Helsinki Center of Economic Research Discussion Paper No. 364
Number of pages: 39 Posted: 18 Apr 2013
University of Jyväskylä, Aalto University School of Business, ETLA, Research Institute of the Finnish Economy and Aalto University - Department of Economics
Downloads 137 (210,304)
Citation 2

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permanent income, income uncertainty, heritability, twins, genetics

8.

Microcredit and Crime

HECER Discussion Paper No. 315
Number of pages: 51 Posted: 29 Mar 2011
Helsinki Center of Economic Research (HECER), Aalto University - Department of Economics and Aalto University - Department of Economics
Downloads 132 (216,715)
Citation 1

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borrower, crime, cost of crime, developing country, diversion externality, microcredit, non-borrower, regression discontinuity

9.

Demand for and Pricing of Mobile Internet: Evidence from a Real-World Pricing Experiment

Helsinki Center of Economic Research Discussion Paper No. 122
Number of pages: 49 Posted: 17 Jan 2005
Maija Gao, Ari Hyytinen and Otto Toivanen
Nokia Corporation (Finland Head Office), University of Jyväskylä and Aalto University - Department of Economics
Downloads 125 (225,923)
Citation 2

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Wireless Internet, demand, new products, welfare

10.
Downloads 112 (244,886)
Citation 5

Anatomy of Cartel Contracts

NHH Dept. of Economics Discussion Paper No. 25/2012
Number of pages: 62 Posted: 23 Jan 2013
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 71 (330,289)

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Cartels, contracts, antitrust, competition policy, industry heterogeneity

Anatomy of Cartel Contracts

Number of pages: 61 Posted: 22 Jan 2014
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 39 (437,542)
Citation 2

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cartels, contracts, antitrust, competition policy, industry heterogeneity

Anatomy of Cartel Contracts

CEPR Discussion Paper No. DP9362
Number of pages: 57 Posted: 26 Feb 2013
Ari Hyytinen, Frode Steen and Otto Toivanen
University of Jyväskylä, Norwegian School of Economics (NHH) - Department of Economics and Aalto University - Department of Economics
Downloads 2 (670,146)
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antitrust, cartels, competition policy, contracts, industry heterogeneity

11.
Downloads 87 (289,833)
Citation 10

Returns to Inventors

Number of pages: 37 Posted: 07 Nov 2008 Last Revised: 09 Nov 2008
Otto Toivanen and Lotta Väänänen
Aalto University - Department of Economics and University of Mannheim - School of Economics (VWL)
Downloads 85 (296,625)
Citation 1

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effort, incentives, inventors, intellectual property, patents, performance pay, return, earnings

Returns to Inventors

CEPR Discussion Paper No. DP7744
Number of pages: 48 Posted: 17 Mar 2010
Otto Toivanen and Lotta Väänänen
Aalto University - Department of Economics and University of Mannheim - School of Economics (VWL)
Downloads 2 (670,146)
Citation 2
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citations, effort, incentives, intellectual property, inventors, patents, performance pay, return, wages

12.

Does Regression Discontinuity Design Work? Evidence from Random Election Outcomes

Government Institute for Economic Research Working Papers No. 59
Number of pages: 75 Posted: 12 Dec 2014
University of Jyväskylä, Stockholm University, Students, Aalto University - School of Business, Aalto University - Department of Economics and VATT Institute for Economic Research
Downloads 86 (291,968)
Citation 6

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Elections, experiment, incumbency advantage, regression discontinuity design

13.

Market Failures and the Additionality Effects of Public Support to Private R&D: Theory and Empirical Implications

Bank of Finland Research Discussion Paper No. 2/2013
Number of pages: 43 Posted: 18 Feb 2013
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 71 (326,606)
Citation 32

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R&D, entrepreneurial finance, R&D subsidies, innovation policy

14.

Design of Public Procurement Auctions: Evidence from Cleaning Contracts

Number of pages: 59 Posted: 10 Feb 2015
Ari Hyytinen, Sofia Lundberg and Otto Toivanen
University of Jyväskylä, University of Umea - Department of Economics and Aalto University - Department of Economics
Downloads 60 (356,503)
Citation 1

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public procurement, auction design, entry, beauty contests, scoring

15.
Downloads 54 (375,124)
Citation 5

The Return-to-Entrepreneurship Puzzle

Number of pages: 37 Posted: 21 Jun 2011
Ari Hyytinen, Pekka Ilmakunnas and Otto Toivanen
University of Jyväskylä, Aalto University School of Business and Aalto University - Department of Economics
Downloads 36 (450,667)
Citation 5

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Dynamics, entrepreneurship, earnings, twin data, education, monetary returns, non-monetary returns, selection

The Return-to-Entrepreneurship Puzzle

Number of pages: 37 Posted: 08 Apr 2011
Ari Hyytinen, Pekka Ilmakunnas and Otto Toivanen
University of Jyväskylä, Aalto University School of Business and Aalto University - Department of Economics
Downloads 18 (552,834)

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entrepreneurship, earnings, twin data, education, monetary returns, nonmonetary returns, selection

16.

The Effect of Department Size on Quality of Research in Science: Evidence from the UK Research Assessment Exercise

Number of pages: 31 Posted: 27 Mar 2013
Otto Toivanen and Michael Waterson
Aalto University - Department of Economics and University of Warwick - Department of Economics
Downloads 49 (391,553)
Citation 1

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economies of scale, RAE, research quality, department size, sciences

Welfare Effects of R&D Support Policies

Bank of Finland Research Discussion Paper No. 30/2017
Number of pages: 69 Posted: 18 Oct 2017 Last Revised: 03 Dec 2017
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 34 (459,736)

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R&D subsidies, R&D tax credits, extensive and intensive margin, welfare, counterfactual, economic growth

Welfare Effects of R&D Support Policies

CEPR Discussion Paper No. DP12155
Number of pages: 66 Posted: 25 Jul 2017
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
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counterfactual, R&D subsidies, welfare

Problems in Launching the Mobile Internet: Evidence from a Pricing Experiment

KU Leuven Faculty of Business and Economics Working Paper No. OR 1231
Number of pages: 52 Posted: 30 Jan 2013
Maija Gao, Ari Hyytinen and Otto Toivanen
Nokia Corporation (Finland Head Office), University of Jyväskylä and Aalto University - Department of Economics
Downloads 29 (484,951)

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wireless Internet, demand, new goods, pricing, services, surplus, two-part-tariff, welfare

Problems in Launching the Mobile Internet: Evidence from a Pricing Experiment

Journal of Economics & Management Strategy, Vol. 23, Issue 3, pp. 483-506, 2014
Number of pages: 24 Posted: 26 Jul 2014
Maija Gao, Ari Hyytinen and Otto Toivanen
Nokia Corporation (Finland Head Office), University of Jyväskylä and Aalto University - Department of Economics
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19.

Public Employees as Politicians: Evidence from Close Elections

VATT Institute for Economic Research Working Papers No. 78
Number of pages: 73 Posted: 29 Sep 2016
University of Jyväskylä, Stockholm University, Students, Aalto University - School of Business, Aalto University - Department of Economics and VATT Institute for Economic Research
Downloads 20 (521,876)
Citation 1

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close elections, political representation, public employees, public expenditures

20.

Innovation and the Market Value of UK Firms, 1989-1995

Oxford Bulletin of Economics and Statistics, Vol. 64, pp. 39-61, 2002
Number of pages: 23 Posted: 05 Dec 2002
Otto Toivanen, P. Stoneman and Derek L. Bosworth
Aalto University - Department of Economics, University of Warwick Business School and affiliation not provided to SSRN
Downloads 15 (551,276)
Citation 1
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21.
Downloads 12 (569,803)
Citation 1

The Social Origins of Inventors

NBER Working Paper No. w24110
Number of pages: 95 Posted: 16 Dec 2017
College de France and London School of Economics and Political Science, Fellow, University of Chicago - Department of Economics, University of Jyväskylä and Aalto University - Department of Economics
Downloads 12 (593,083)
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The Social Origins of Inventors

CEPR Discussion Paper No. DP12496
Number of pages: 97 Posted: 19 Dec 2017
College de France and London School of Economics and Political Science, Fellow, University of Chicago - Department of Economics, University of Jyväskylä and Aalto University - Department of Economics
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education, Innovation, inventors, IQ, parental background, Social mobility

22.

Monitoring and Market Power in Loan Markets

Bank of Finland Research Discussion Paper No. 9/2000
Number of pages: 49 Posted: 14 Aug 2017 Last Revised: 20 Jun 2018
Ari Hyytinen and Otto Toivanen
University of Jyväskylä and Aalto University - Department of Economics
Downloads 4 (621,928)

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23.

Entrepreneurship, Financiership, and Selection

The Scandinavian Journal of Economics, Vol. 114, Issue 2, pp. 601-628, 2012
Number of pages: 28 Posted: 16 May 2012
Tuomas Takalo and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department and Aalto University - Department of Economics
Downloads 2 (639,655)
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Asymmetric information, credit constraints, entrepreneurial finance, financial market efficiency, start‐up creation

24.

Income Inequality and Technology Diffusion: Evidence from Developing Countries

Scandinavian Journal of Economics, Vol. 113, Issue 2, pp. 364-387, 2011
Number of pages: 24 Posted: 24 May 2011
Ari Hyytinen and Otto Toivanen
University of Jyväskylä and Aalto University - Department of Economics
Downloads 2 (639,655)
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Developing countries, inequality, mobile phones, technology diffusion, instrumental variables

25.

Design of Public Procurement Auctions: Evidence from Cleaning Contracts

CEPR Discussion Paper No. DP11708
Number of pages: 88 Posted: 19 Dec 2016
Sofia Lundberg and Otto Toivanen
University of Umea - Department of Economics and Aalto University - Department of Economics
Downloads 0 (669,706)
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auction design, beauty contests, Entry, public procurement, scoring

26.

Do Financial Constraints Hold Back Innovation and Growth? Evidence on the Role of Public Policy

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 04 Nov 2009
Otto Toivanen and Ari Hyytinen
Aalto University - Department of Economics and University of Jyväskylä

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Research Institute of the Finnish Economy (ETLA), Innovation process, Finance, Financial constraints, Access to capital, Firm growth, Financial markets, Public policy, Federal aid, R&D

27.

Selection or Self-Rejection? Applications into a Treatment Program: The Case of R&D Subsidies

RICAFE Working Paper No. 014
Posted: 16 Feb 2005
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Monetary Policy and Research Department, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics

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Applications, effort, investment, rate of return, R&D, selection, subsidies, treatment program, treatment effects, welfare

28.

Choosing Standards

HECER Discussion Paper No. 28
Posted: 17 Jan 2005
Otto Toivanen
Aalto University - Department of Economics

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Standards, welfare, patents, network effects, telecom, mobile phones

29.

Asymmetric Information and the Market Structure of the Venture Capital Industry

Journal of Financial Services Research, Vol. 23, No. 3, pp. 241-249
Posted: 16 Feb 2004
Ari Hyytinen and Otto Toivanen
University of Jyväskylä and Aalto University - Department of Economics

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Venture capital, asymmetric information, entry, market structure