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When to Put All Your Eggs in One Basket.....When Diversification Increases Portfolio Risk!

Los, Cornelis A. - EconWPA - 2004

Portfolio diversification may not always lower the portfolio risk, but may actually increase it. It depends on the long memory and distributional stability characteristics of the underlying rates of return. This disturbing result is based on the theoretical Fama- Samuelson proposition of...

Persistent link: https://www.econbiz.de/10005413142

Optimal portfolios using linear programming models

Papahristodoulou, Christos; Dotzauer, Erik - EconWPA - 2005

The classical Quadratic Programming (QP) formulation of the well-known portfolio selection problem has traditionally been regarded as cumbersome and time consuming. This paper formulates two additional models, (i) maximin, and (ii) minimization of mean absolute deviation. Data from 67 securities...

Persistent link: https://www.econbiz.de/10005134772

Multivariate Partial Distribution: A New Method of Pricing Group Assets and Analyzing the Risk for Hedging

Dai, Feng; Liu, Hui; Wang, Ying - EconWPA - 2005

Based on the Partial Distribution (Feng Dai, 2001), a new model to price an asset (MPA) is given. Going a step further, this paper puts forward the Multivariate Partial Distribution (MPD) for the first time. By use of MPD, we could gain a new kind of model for pricing the group assets (MPGA), in...

Persistent link: https://www.econbiz.de/10005119177

Risk Analysis in Investment Appraisal

Savvides, Savvakis C. - EconWPA - 2004

This paper was prepared for the purpose of presenting the methodology and uses of the Monte Carlo simulation technique as applied in the evaluation of investment projects to analyse and assess risk. The first part of the paper highlights the importance of risk analysis in investment appraisal....

Persistent link: https://www.econbiz.de/10005561672

New Labor Legislation in Montenegro – Labor Law and Proposal of the General Collective Agreement

Krsmanovic, Ana - EconWPA - 2004

A key area of focus in the economic reform process and the design of a favorable business environment is labor market legislation. Montenegro has obviously failed in this area. After nearly 13 years since the beginning of the transition process, or five years since the beginning of Economic...

Persistent link: https://www.econbiz.de/10005076510

The Uneasy Case for the Flat Tax

Buckley, Francis; Rasmusen, Eric - EconWPA - 1999

There is a secret paradox at the heart of social contract theories. Such theories assume that, because personal security and private property are at risk in a state of nature, subjects will agree to grant Leviathan a monopoly of violence. But what is to prevent Leviathan from turning on his...

Persistent link: https://www.econbiz.de/10005076588

Of Regulatory Law

Carloff, Andy - EconWPA - 2005

Some thoughtful questions and linear answers to the economic, social, and political consequencs that comes with restrictive regulating laws. 'Regulatory law is where Socialism meets Liberalism; or what might be called the highest form of Liberalism, the lowest form of Socialism.'

Persistent link: https://www.econbiz.de/10005076636

Policy Reform in Networks Infrastructure: The Case of Mexico

Tovar-Landa, Ramiro - EconWPA - 1997

This paper addresses the recent Mexico experience in the opening to competition in networks infrastructure mainly in the telecommunications sector. In spite of deregulation and privatization policies in the recent past, there are threats from regulatory failures which create obstacles in the...

Persistent link: https://www.econbiz.de/10005076639

Understanding Regulatory Environments and their Impact on Economic Change

James, Harvey; Johnson, Derek - EconWPA - 2002

, conduct, and attribute regulation. The standard we use to evaluate the efficiency and effectiveness of regulations creating …

Persistent link: https://www.econbiz.de/10005076905

Revolutionary Ideas for Radio Regulation

Galbi, Douglas A. - EconWPA - 2003

. To get needed, radical changes in radio regulation, much more attention should be directed toward central issues of … that can revolutionize radio regulation. Bringing this knowledge to life in the field of radio regulation involves asking … three questions. First, what is a good separation and balance of powers in radio regulation? Second, how should radio …

Persistent link: https://www.econbiz.de/10005126024