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Barter Economies and Centralized Merchants

Jose Noguera S. - EconWPA - 2001

The main goal of this essay is to analyze the emergence of a barter economy, and the rise of centralized merchants and a barter redistribution system out of a primitive barter system. The environment is a spatial general equilibrium model where exchange is costly. Since exchange becomes more...

Persistent link: https://www.econbiz.de/10005076840

Corporate Risk Management as a Lever for Shareholder Value Creation

Bartram, Sohnke M. - EconWPA - 2001

Firm value is influenced in many direct and indirect ways by financial risks, which consist of unexpected changes of foreign exchange rates, interest rates and commodity prices. The fact that a significant number of corporations are committing resources to risk management activi-ties is,...

Persistent link: https://www.econbiz.de/10005134866

Long–term Business Relationships between Consignor and Trucking Carrier in Japan

KASUGA, Norihiro; Torii, Akio - EconWPA - 2005

In this paper, we have empirically analyzed the factors that lead to longer business relationships in the logistics industry. The main conclusions of this paper are summarized as follows. First, the terms of relationships observed between the consignors and the trucking carriers that receive...

Persistent link: https://www.econbiz.de/10005412960

Trading Turnover and Expected Stock Returns: The Trading Frequency Hypothesis and Evidence from the Tokyo Stock Exchange

Hu, Shing-yang - EconWPA - 1997

This paper tries to find a widely accessible measure of liquidity and studies its impact on asset pricing. Using trading turnover as a measure of liquidity and the 1976-1993 Tokyo Stock Exchange data, I find that, cross-sectionally, stocks with higher turnover tend to have a lower expected...

Persistent link: https://www.econbiz.de/10005413235

The Appearance of Carriers and the Origins of Money

Jose Noguera S. - EconWPA - 2001

The main goal of this essay is to provide microfoundations in a spatial general equilibrium framework for the fact that individuals use money to make transactions, and hence microfoundations for the cash in advance constraint. We analyze the emergence of a monetary economy out of a...

Persistent link: https://www.econbiz.de/10005561199

THE HIDDEN COSTS AND RETURNS OF INCENTIVES — TRUST AND TRUSTWORTHINESS AMONG CEOs

Fehr, Ernst; List, John A. - EconWPA - 2004

situations requiring trust and trustworthiness. As a control we compare the behavior of CEOs with the behavior of students. We …. However, the availability of penalizing incentives also creates hidden returns: if a principal expresses trust by voluntarily … threat is not available. Thus trust seems to reinforce trustworthy behavior. Overall, trustworthiness is highest if the …

Persistent link: https://www.econbiz.de/10005076520

Sustaining Cooperation in trust Games

McCabe, Kevin; Rigdon, Mary; Smith, Vernon - EconWPA - 2004

-person trust game. Players are typed based on their recent track record as whether or not they are trusting (Players 1) and whether …

Persistent link: https://www.econbiz.de/10005125594

TRUST OF MODERNITY, MODERNITY OF TRUST. CONSIDERATIONS AND RESEARCH HYPOTHESIS

CONTE, MASSIMO - EconWPA - 2005

THE DEVELOPMENT SOCIAL RELATIONSHIP IN OUR TIMES IMPOSE A GROWING IMPORTANCE TO 'TRUST' AS A RESOURCE BETWEEN PERSONAL … REDUCING OF SOCIAL COMPLEXITY IN OUR NEAPOLITAN REALITY, WE ASSUME THAT IS BETTER TO 'RELIANCE' RATHER THAN TO TRUST. FOR THE …

Persistent link: https://www.econbiz.de/10005126102

A Prototype for an Agent-based Secure Electronic Marketplace including Reputation Tracking Mechanisms

Boris, Padovan; Stefan, Sackmann; Thorsten, Eymann; … - EconWPA - 2002

The future of electronic commerce will be shaped by open, heterogeneous and complex structures, consisting of networked marketplaces. Software agents will interact and negotiate on behalf of their human (or organizational) principals. Principals will be able to implement fraudulent strategies in...

Persistent link: https://www.econbiz.de/10005134563

Borrowing Alone The Theory and Policy Implications of the Commodification of Finance

Hannsgen, Greg - EconWPA - 2004

Over the past 20 years, finance has become commodified. Firms increasingly obtain finance from securities markets, instead of borrowing from commercial banks with which they have long-term relationships, while Fannie Mae and Freddie Mac package a growing number of mortgages into bonds. When...

Persistent link: https://www.econbiz.de/10005134641