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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
household survey on the European Central Bank’s transparency. To benefit from higher transparency perceptions the European …
Persistent link: https://www.econbiz.de/10005136532
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
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
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
waves of the World Values Survey (1980 to 2005). We thus relate eleven indicators of individual openness to innovation … individual level, examining the relationship between religiosity and a broad set of pro- or anti-innovation attitudes in all five … innovation. …
Persistent link: https://www.econbiz.de/10011213308
This paper studies the effect of top tax rates on inventors' mobility since 1977. We put special emphasis on "superstar" inventors, those with the most and most valuable patents. We use panel data on inventors from the United States and European Patent Offices to track inventors' locations over...
Persistent link: https://www.econbiz.de/10011272707
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...
Persistent link: https://www.econbiz.de/10011262883
Analysing 474 cases of firms going public in the German capital between 1892 and 1913, we show that innovative firms could rely on the Berlin stock market as a source of financing. The data also reveal that initial public offerings (IPO) of innovative firms were characterized by particularly low...
Persistent link: https://www.econbiz.de/10011266534
This paper examines the sources of firm product and process innovation in Norway. It uses a purpose-built survey of ….’s (2007) contention that firm innovation is both the result of ‘science, technology and innovation’ (STI) and ‘doing, using … innovation and that both STI and DUI-modes of interaction matter. However, it also shows that DUI modes of interaction outside …
Persistent link: https://www.econbiz.de/10009225958