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Les prestations de services professionnels sont par définition intangibles et génèrent en conséquence une perception de risque et d’incertitude chez le client. Pour y remédier, la confiance a été identifiée comme étant la solution idéale. Or, l’idée dominante est que le...
Persistent link: https://www.econbiz.de/10008532379
In this note it is argued that the estimation error in Value-at-Risk predictors gives rise to underestimation of portfolio risk. We propose a simple correction and find in an empirical illustration that it is economically relevant.
Persistent link: https://www.econbiz.de/10005651967
In general, the properties of the conditional distribution of multiple period returns do not follow easily from the one-period data generating process. This renders computation of Value-at-Risk and Expected Shortfall for multiple period returns a non-trivial task. In this paper we consider some...
Persistent link: https://www.econbiz.de/10005198007
In the estimation of risk measures such as Value at Risk and Expected shortfall relatively short estimation windows are typically used rendering the estimation error a possibly non-negligible component. In this paper we build upon previous results for the Value at Risk and discuss how the...
Persistent link: https://www.econbiz.de/10010564003
We report that the price of a 6.5oz Coke was 5¢ from 1886 until 1959. Thus, we are documenting a nominal price rigidity that lasted more than 70 years! The case of Coca-Cola is particularly interesting because during the 70-year period there were substantial changes in the soft drink industry...
Persistent link: https://www.econbiz.de/10005412575
We use store-level data to document the exact process of changing prices and to directly measure menu costs at five multi-store supermarket chains. We show that changing prices in these establishments is a complex process, requiring dozens of steps and a nontrivial amount of resources. The menu...
Persistent link: https://www.econbiz.de/10005412630
We combine two data sets to study price rigidity. The first consists of weekly time series of retail, wholesale, and spot prices for twelve products. These time series contain two exogenous cost shocks. We find that prices exhibit more rigidity in response to the second shock than the first. The...
Persistent link: https://www.econbiz.de/10005412696
We empirically study the price adjustment process at multiproduct retail stores. We use a unique store level data set for five large supermarket and one drugstore chains in the U.S., to document the exact process required to change prices. Our data set allows us to study this process in great...
Persistent link: https://www.econbiz.de/10005412912
An abrupt growth, in terms of the supply of marketing degrees in Portugal, has, recently, been observed, which has contributed for intensifying the concurrence between the institutions of undergraduate education. In this new competitive environment the development of a brand image associated...
Persistent link: https://www.econbiz.de/10005413019
Dans cet article, l’analyse des réseaux sociaux (ARS) est décrite comme une nouvelle méthodologie d’étude des communautés en ligne. Afin d’amener à une meilleure compréhension de l’ARS, une synthèse des recherches antérieures est proposée. Elle détaille les techniques de...
Persistent link: https://www.econbiz.de/10009370241