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Quality Externalities among Hotel Establishments: What is the Impact of Tour Operators

Calveras, Aleix; Vera-Hernandez, Marcos - EconWPA - 2003

This paper is about quality decisions in a vertical structure where competitive producers sell to powerful retailers. Specifically, we focus the analysis on the role played by a tour operator on quality investments when distributing the capacity of a given tourist destination. We emphasize the...

Persistent link: https://www.econbiz.de/10005134461

Dying in an Avalanche: Current risks and Valuation

Leiter, Andrea M.; Pruckner, Gerald J. - EconWPA - 2005

to pay (WTP) values for a risk prevention of dying in an avalanche. We present results of a contingent valuation (CV … affect individual risk evaluations. Surprisingly, individuals state a lower WTP in winter although avalanche accidents are … predominant at that time. Personal responsibility of risk exposure and its associated voluntariness are main reasons for the …

Persistent link: https://www.econbiz.de/10005550931

Social memory, social stress, and economic behaviors

Takahashi, Taiki - EconWPA - 2005

game condition. Meanwhile, humans are known to show a social stress response during face-to-face social interactions, which … might affect economic behaviors. Furthermore, it is known that there are individual differences in a social stress response … capacities of social memory. In the present study, we investigated the acute effects of social stress- induced free cortisol (a …

Persistent link: https://www.econbiz.de/10005408231

Expected utility without utility

Castagnoli, Erio; LiCalzi, Marco - EconWPA - 2005

This paper advances an interpretation of Von Neumann–Morgenstern’s expected utility model for preferences over lotteries which does not require the notion of a cardinal utility over prizes and can be phrased entirely in the language of probability. According to it, the expected utility of a...

Persistent link: https://www.econbiz.de/10005118603

Uncovering Central Bank Monetary Policy Objectives: Going Beyond Fear of Floating

Moron, Eduardo; Castro, Juan F. - EconWPA - 2002

Highly volatile exchange rates don't come cheap in economies with large liability dollarization ratios. Therefore, central banks do not follow a unique objective of price stability but its preferences include an implicit exchange rate objective. This gives us reasons to believe that the Peruvian...

Persistent link: https://www.econbiz.de/10005126281

Monitoring Banking Sector Fragility

Kibritcioglu, Aykut - EconWPA - 2002

In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...

Persistent link: https://www.econbiz.de/10005126447

Pobreza y desigualdad en el Peru: Los promedios no bastan

Mauro, Raul - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005062440

Rebuilding the State in Areas Affected by Political Violence: The Case of Rural Communities in Ayacucho, Peru

Velazco, Jackeline - EconWPA - 2004

During the 1980s, the Peruvian society was deeply affected by two significant events: a) the economic crisis that ended in recession and hyperinflation and, b) the spread of political violence, in particular in Ayacucho, in the central Andean highlands. Taking this into account, the conditions...

Persistent link: https://www.econbiz.de/10005412495

Dedollarizing the Peruvian Economy

Moron, Eduardo; Castro, Juan F. - EconWPA - 2003

Peruvian economy. The two policy options that we consider are: (i) increasing the risk of dollar deposits, reducing the level …. Our results show that the former has the potential risk of lowering the level of financial intermediation, whereas the …

Persistent link: https://www.econbiz.de/10005412579

Financial Dollarization and the Size of the Fear

Castro, Juan F.; Morón, Eduardo - EconWPA - 2005

of those factors by extending the basic CAPM formulation via the introduction of credit risk that is directly linked to …

Persistent link: https://www.econbiz.de/10005412746