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

34

DOWNLOADS
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4,104

SSRN CITATIONS
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SSRN RANKINGS

Top 6,601

in Total Papers Citations

133

CROSSREF CITATIONS

128

Scholarly Papers (34)

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 582 (86,938)
Citation 2

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

2.
Downloads 423 (128,031)
Citation 6

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 241 (231,836)
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 109 (457,581)
Citation 1

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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 69 (613,415)
Citation 1

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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 (1,134,878)
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antitrust, cartel, competition, detection, Hidden Markov models, illegal, legal, leniency, policy, registry

3.

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 321 (173,861)
Citation 3

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permanent income, income uncertainty, heritability, twins, genetics

4.

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, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 299 (187,284)
Citation 32

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

5.

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 275 (204,196)
Citation 14

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Efficiency, favoritism, politics, public procurement

6.
Downloads 196 (282,414)
Citation 12

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 106 (467,042)

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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 86 (538,069)
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 4 (1,135,369)
Citation 7
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antitrust, cartels, competition policy, contracts, industry heterogeneity

7.

International Student Exchange and Academic Performance

ZEW - Centre for European Economic Research Discussion Paper No. 21-011
Number of pages: 50 Posted: 25 Feb 2021
Dirk Czarnitzki, Wytse Joosten and Otto Toivanen
KU Leuven - Department of Managerial Economics, Strategy, and Innovation, KU Leuven and Aalto University - Department of Economics
Downloads 194 (285,076)

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Exchange programs; student mobility; academic performance

8.

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 184 (298,861)

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

9.

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 and Aalto University - Department of Economics
Downloads 181 (303,313)

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10.

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 178 (307,889)
Citation 3

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

11.

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 151 (354,304)
Citation 7

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Wireless Internet, demand, new products, welfare

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, ITAM, Centro de Investigación Económica, Aalto University - School of Business, Aalto University - Department of Economics and University of Turku - Turku School of Business - Department of EconomicsVATT Institute for Economic Research
Downloads 139 (378,466)
Citation 16

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Elections, experiment, incumbency advantage, regression discontinuity design

13.
Downloads 124 (413,450)
Citation 25

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 Compass Lexecon
Downloads 122 (420,204)
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 Compass Lexecon
Downloads 2 (1,152,176)
Citation 5
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citations, effort, incentives, intellectual property, inventors, patents, performance pay, return, wages

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 120 (423,580)
Citation 3

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

15.
Downloads 111 (448,955)
Citation 8

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 68 (618,525)
Citation 8

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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 43 (770,272)

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

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: 21 Jan 2022
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 104 (473,638)

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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, 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

17.

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, Government of the Republic of Finland - National Audit Office of Finland and Aalto University - Department of Economics
Downloads 104 (470,631)
Citation 37

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

18.

Welfare Effects of R&D Support Policies

Bank of Finland Research Discussion Paper No. 2/2022
Number of pages: 70 Posted: 19 Jan 2022 Last Revised: 04 Mar 2024
Tuomas Takalo, Tanja Tanayama and Otto Toivanen
Bank of Finland, European Union - European Investment Bank and Aalto University - Department of Economics
Downloads 74 (581,454)

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

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, ITAM, Centro de Investigación Económica, Aalto University - School of Business, Aalto University - Department of Economics and University of Turku - Turku School of Business - Department of EconomicsVATT Institute for Economic Research
Downloads 72 (590,258)
Citation 6

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close elections, political representation, public employees, public expenditures

20.

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 72 (590,258)
Citation 1

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

21.
Downloads 52 (693,668)
Citation 3

The Social Origins of Inventors

NBER Working Paper No. w24110
Number of pages: 95 Posted: 16 Dec 2017 Last Revised: 19 May 2023
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 52 (708,635)

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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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Citation 1
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education, Innovation, inventors, IQ, parental background, Social mobility

22.

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 52 (693,668)

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

23.

Parental Education and Invention: The Finnish Enigma

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-26
Number of pages: 49 Posted: 21 Feb 2023
Université Paris VI Pierre et Marie Curie - College de France, University of Chicago - Department of Economics, University of Jyväskylä and Aalto University - Department of Economics
Downloads 43 (751,436)

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24.

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: 18 Nov 2021
Ari Hyytinen and Otto Toivanen
University of Jyväskylä and Aalto University - Department of Economics
Downloads 26 (885,513)

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25.

Death and Turmoil in R&D Teams

CEPR Discussion Paper No. 18578
Number of pages: 45 Posted: 30 Nov 2023
HEC Paris - Economics and Decision Sciences, CIRCLELund University - Department of Economic History and Aalto University - Department of Economics
Downloads 16 (982,239)

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innovation, knowledge spillovers, managerial response, organizational economics, peer effects, R&D teams

26.

A Year Older, a Year Wiser (and Farther from Frontier): Invention Rents and Human Capital Depreciation

NBER Working Paper No. w29863
Number of pages: 49 Posted: 28 Mar 2022 Last Revised: 14 Apr 2023
London School of Economics & Political Science (LSE) - London School of Economics, University of Chicago - Department of Economics, University of Jyväskylä and Aalto University - Department of Economics
Downloads 7 (1,067,950)
Citation 2
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27.

Parental Education and Invention: The Finnish Enigma

NBER Working Paper No. w30964
Number of pages: 48 Posted: 20 Feb 2023 Last Revised: 12 Apr 2023
London School of Economics & Political Science (LSE) - London School of Economics, University of Chicago - Department of Economics, University of Jyväskylä and Aalto University - Department of Economics
Downloads 4 (1,091,439)
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28.

From Conference Submission to Publication and Citations: Evidence from the Earie Conference

CEPR Discussion Paper No. DP16990
Number of pages: 55 Posted: 04 Feb 2022
Yossi Spiegel and Otto Toivanen
Tel Aviv University, Coller School of Management and Aalto University - Department of Economics
Downloads 0 (1,122,226)
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Citations, conference, presentation, publication, ranking, submission

29.

Inequality and Creative Destruction

CEPR Discussion Paper No. DP16867
Number of pages: 48 Posted: 04 Feb 2022
Richard W. Blundell, Xavier Jaravel and Otto Toivanen
UCL, London School of Economics & Political Science (LSE) - Department of Economics and Aalto University - Department of Economics
Downloads 0 (1,122,226)
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30.

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 (1,122,226)
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auction design, beauty contests, Entry, public procurement, scoring

31.

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

32.

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, 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

33.

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

34.

Asymmetric Information and the Market Structure of the Venture Capital Industry

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