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Smith, Lones; Stacchetti, Ennio - EconWPA - 2002

Markovian refinement of subgame perfection where behaviour is governed by aspiration values (expected payoffs). The analysis is …-wired proposer standard advantage. We find that discounted aspiration values form a martingale, and thereby compute bounds on the …

Persistent link: https://www.econbiz.de/10005550878

Valuation Equilibria

Jehiel, Philippe; Samet, Dov - EconWPA - 2003

existing solution concepts. An aspiration-based approach is also proposed, in which the similarity partitions are determined … endogenously. The corresponding equilibrium is called the aspiration-based valuation equilibrium (ASVE). While the Subgame Perfect …

Persistent link: https://www.econbiz.de/10005550956

accelereting new product development by overcoming complexity constraints

vassilakis, spyros - EconWPA - 2003

Persistent link: https://www.econbiz.de/10005076908

How do real options come into existence? A step toward an option- based theory of the firm

BURGER-HELMCHEN, Thierry - EconWPA - 2004

To be relevant to a firm a real option needs to fit into a theory of the firm explaining its existence, exercise conditions and value. We make a step toward an option based-theory of the firm by describing the emergence of a firm’s options and the strategic building of new competences for...

Persistent link: https://www.econbiz.de/10005125059

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

Persistent link: https://www.econbiz.de/10005134668

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005134829

Teoria dos custos de transacao e abordagens evolucionistas: analise e perspectivas de um programa de pesquisa pluralista

Huascar, Pessali; Ramon, Fernandez - EconWPA - 2005

Transaction Costs Theory has been considered the 'new orthodoxy' in the theory of the firm, being this the very same reason for wide criticism by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some...

Persistent link: https://www.econbiz.de/10005412956

A look at exchange rate and monetary policy in Malawi

Simwaka, Kisu - EconWPA - 2004

misalignment with no feedback effects. In the second stage, a model of nominal exchange rate is estimated. Since we find co-integration …; Integration * The findings, interpretation and conclusions expressed in this paper are entirely those of the author. They don …

Persistent link: https://www.econbiz.de/10005076782

Central counterparty clearing: constructing a framework for evaluation of risks and benefits

Ripatti, Kirsi - EconWPA - 2005

the increased sophistication in clearing arrangements is the ongoing process of European economic integration, ie the euro …

Persistent link: https://www.econbiz.de/10005134670

LUSO-SPANISH-FRANCO-ENGLISH RELATIONS VIEWED FROM THE ENTRANCE OF FOREIGN INVESTMENT FUNDS

manso, jose r. p. - EconWPA - 2004

stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …

Persistent link: https://www.econbiz.de/10005408149