To reduce household air pollution, improve health outcomes, save nonrenewable biomass, and support local economic development, developing countries are seeking to increase the use of liquefied petroleum gas (LPG) as a clean cooking solution. In the absence of targeted subsidies, LPG will not be...

As smart contract platforms autonomously manage billions of dollars of capital, quantifying the portfolio risk that investors engender in these systems is increasingly important. Recent work illustrates that Proof of Stake (PoS) is vulnerable to financial attacks arising from on-chain lending...

We consider a continuous-time financial market with no arbitrage and no transactions costs. In this setting, we introduce two types of perpetual contracts, one in which the payoff to the long side is a fixed function of the underlyers and the long side pays a funding rate to the short side, the...

Provides a brief assessment of how natural resource scarcity and global climate change may alter the risk of violent conflict in the future. Resource scarcity to meet basic needs such as food and land and water can be worsened by governmental ineffectiveness, and vulnerability of populations,...

For every U.S.-listed security for every year between 2001-2017, I run four different event studies to calculate four separate objective measures of the efficiency of the market for that security for that year, which provide an objective characterization of the market for that security in that...

Consider any situation involving uncertainty, where the random variable of interest (e.g., payoff) is X. Let there exist a random variable, say Y, which represents the uncertainty intrinsic to the situation, and let there exist a function g such that X=g(Y). Our contention is that, once the...

Price wars have been explained as occurring because of breakdown of cartels, or as necessary deterrent measures to sustain collusion, or due to imperfect information about demand conditions and/or moves of other firms; and combinations of the above. The above literature, however, fails to...

This paper examines the implications for equilibrium price of a shift in demand and also provides formal characterizations in a general dynamic model of perfect equilibrium, the relation between dominated and dominant strategies, the relation between reversion and generalized reversion strategy...

I use five separate measures of deviation from Put-Call Parity of options on a stock without splits or dividends as separate negative measures for market efficiency. I rely upon the theory of trading volume as a function of short sales costs, etc., and that of market efficiency as a function of...

An optimization problem with a linear objective function and linear constraints is called a linear programming problem. A vector satisfying the inequality and nonnegative constraints is called a feasible solution. If a linear programming problem and its dual have feasible solutions, then both...