constant K > 0 with x0 (t) 0(t)x Kx0x for all x 2 IRn and for all t 2 [0;T] P a.s.. In the following we will present the …;::: ;n: The value x0 := ’0(0)B(0) +Pni=1 ’i(0)Si(0) is called initial wealth. ii) Let ’ be a trading strategy with initial … wealth x0 > 0. The process X(t) := ’0(t)B(t) + nX i=1 ’i(t)Si(t) is called wealth process corresponding to ’ with initial …

and act accordingly. Given the unconditional probabilities of short duration, (1-B x ), and long duration, B x …

to monetary transfers P will make. A’s utility is quasilinear in this monetary transfer, i.e., it can be written as T (x … conditional on his type. This decision induces an output profile x(·)and a transfer profile t(·), both as functions of the type of … A. Definition 1 The output - transfer profile {x(·),t(·)} is incentive compatible (through T (·))ifthere 5 exists a …

and act accordingly. Given the unconditional probabilities of short duration, (1-B x ), and long duration, B x …

neue Informationswelt im Cyberspace er ffnet, hat das Ph nomen in den USA allerdings einen neuen Namen: The Digital Divide ….................................................................................................. X Abk rzungsverzeichnis ........................................................................................... XI A … ............ 243 X Tabellenverzeichnis Tabelle 1: Die Vereinsarbeit im Internet …

world price of oil and on the taxation regimes for oil products relative to biofuels. Ignoring the tax dimension and …

inflation one period aheadanda"forcingvariable"x t : π t = βE t π t+1 + γ (1 + β)x t , (1) where x t denotes excess demand or … variable" in NPC models suggests the exogeneity of x t , in all reasonable macro models of the Phillips curve x t is not … (2) with the following simple demand-side equation: x t = M t −P t , (3) where M t denotes the log of money supply. Note …

unemployment insurance, federal taxation, and �scal policies. 1 Behavioral Biases and the Macro-Economy erogeneity in the state … standard errors for heteroskedasticity. In particular, we estimate the following regression: yi y = (xi x) + "i. (4) In this … state-level RS measures. xi is a vector of explanatory variables and x is the cross-sectional average vector corresponding …

inflation one period aheadanda"forcingvariable"x t : π t = βE t π t+1 + γ (1 + β)x t , (1) where x t denotes excess demand or … variable" in NPC models suggests the exogeneity of x t , in all reasonable macro models of the Phillips curve x t is not … (2) with the following simple demand-side equation: x t = M t −P t , (3) where M t denotes the log of money supply. Note …