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Limits of Arbitrage: The State of the Theory

Gromb, Denis; Vayanos, Dimitri - C.E.P.R. Discussion Papers - 2010

We survey theoretical developments in the literature on the limits of arbitrage. This literature investigates how costs … from behavioral or from institutional considerations. We next survey, and nest within a simple model, the following costs …

Persistent link: https://www.econbiz.de/10008530340

Actual Versus Perceived Central Bank Transparency: The case of the European Central Bank

Eijffinger, Sylvester C W; Cruijsen, Carin A B van der - C.E.P.R. Discussion Papers - 2007

household survey on the European Central Bank’s transparency. To benefit from higher transparency perceptions the European …

Persistent link: https://www.econbiz.de/10005136532

The Economic Impact of Central Bank Transparency: A Survey

Eijffinger, Sylvester C W; Cruijsen, Carin A B van der - C.E.P.R. Discussion Papers - 2007

We provide an up-to-date overview of the literature on the desirability of central bank transparency from an economic viewpoint. Since the move towards more transparency, a lot of research on its effects has been carried out. First, we show how the theoretical literature has evolved, by looking...

Persistent link: https://www.econbiz.de/10005666931

Asset Prices with Heterogenous Beliefs

Basak, Suleyman - C.E.P.R. Discussion Papers - 2004

This article studies the dynamic behaviour of security prices in the presence of investors’ heterogeneous beliefs. We provide a tractable continuous-time pure-exchange model and highlight the mechanism through which investors’ differences of opinion enter into security prices. In the...

Persistent link: https://www.econbiz.de/10005661585

A Nationwide Laboratory Examining Trust and Trustworthiness by Integrating Behavioural Experiments into Representative Surveys

Fehr, Ernst; Fischbacher, Urs; Schupp, Jürgen; von … - C.E.P.R. Discussion Papers - 2003

survey data is limited by measurement error and by the questionability of their behavioural relevance. Here we present a … interaction among the participants, with a survey of non-interacting respondents in a smooth and inexpensive way. We illustrate … the power of our approach with the analysis of trust and trustworthiness in Germany by combining representative survey …

Persistent link: https://www.econbiz.de/10005661984