Showing 1 - 10 of 27
The FDA sets a uniform hypothesis test's approval standard at the end of Phase III clinical trials for new drugs. We study the impact of flexible approval standards on experimentation and social welfare when pharmaceutical companies (firms) are strategic, especially in terms of the level of...
Persistent link: https://www.econbiz.de/10014356551
This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal...
Persistent link: https://www.econbiz.de/10015238910
This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal...
Persistent link: https://www.econbiz.de/10015239977
This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal...
Persistent link: https://www.econbiz.de/10015243233
This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal...
Persistent link: https://www.econbiz.de/10011258270
Notwithstanding almost forty years of efforts, the market for paintings still lacks a widely accepted price index. In this paper, we introduce a simple and intuitive metric to construct such index. Our metric is based on the price of a painting divided by its area. This formulation rests on a...
Persistent link: https://www.econbiz.de/10010765035
This paper introduces a new financial metric for the art market. The metric is based on the price per unit of area and is applicable to two-dimensional art objects such as paintings.
Persistent link: https://www.econbiz.de/10010721073
We analyze the Solvency II standard formula (SF) for capital risk aggregation in relation to the treatment of operational risk (OR) capital. We show that the SF implicitly assumes that the correlation between OR and the other risks is very high, a situation which seems to be at odds with both,...
Persistent link: https://www.econbiz.de/10012998607
Banking systems are at the center of the financial infrastructure of any country. It has become apparent after the subprime crisis that such systems cannot be studied by looking at their components individually (that is, in isolation). Thus, an integrated approach is needed.In this paper we...
Persistent link: https://www.econbiz.de/10013005537
The subprime crisis was an important wake up call for the financial discipline and the academic community. Several fundamental tenets of the field were called into question as the empirical evidence showed that they were less solid than previously believed. Currently, the list of issues under...
Persistent link: https://www.econbiz.de/10012982239