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Smooth Transition Autoregressive (STAR) model has been employed in a number of current studies dealing with non-linearities. The usefulness of this model has been documented in these studies. However, the population statistical properties of the parameters in this model remain unknown. This...
Persistent link: https://www.econbiz.de/10005408278
I estimate the effect of team production on labor productivity and product quality using a cross section of British establishments. A distinguishing feature of this study is its use of a structural model that treats as endogenous the organizations’ choices of teams and whether or not to grant...
Persistent link: https://www.econbiz.de/10005556846
The Klein-Leffler (1981) model of product quality does not explain why high-quality firms would dissipate the rents they earn from quality- assuring price premia, and it relies on consumers knowing the cost functions of firms. In the present paper, consumers do not know any firm's cost of...
Persistent link: https://www.econbiz.de/10005561438
Persistent link: https://www.econbiz.de/10005119338
of family farms and socialist-style farms in the presence of risk, given the typical post-socialist environment …
Persistent link: https://www.econbiz.de/10005555994
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...
Persistent link: https://www.econbiz.de/10005556097
This paper analyzes the expenditure policy of the public sector and risk in a two-country stochastic AK growth model … public spending on productivity and risk diversification. …
Persistent link: https://www.econbiz.de/10005556589
paradox, risk aversion and other well-known fundamental problems. For a long time, this opinion was a barrier to proper …
Persistent link: https://www.econbiz.de/10005560978
We introduce an axiomatic definition of a conditional convex risk mapping. By employing the techniques of conjugate … duality we derive properties of conditional risk mappings. In particular, we prove a representation theorem for conditional … risk mappings in terms of conditional expectations. We also develop dynamic programming relations for multistage …
Persistent link: https://www.econbiz.de/10005561062
Dass Stakeholder zum Unternehmensrisiko beitragen können, ist heute weitgehend unbestritten. Höhe und Art des Unternehmensrisikos haben einen Einfluss auf den Unternehmenswert. Der Beitrag von Stakeholdern zum Unternehmensrisiko hat daher auch einen Einfluss auf den Unternehmenswert. Gelingt...
Persistent link: https://www.econbiz.de/10005561064