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Fehr, Ernst; Fischbacher, Urs - EconWPA - 2004

We examine the characteristics and relative strength of third-party sanctions in a series of experiments. We hypothesize that egalitarian distribution norms and cooperation norms apply in our experiments, and that third parties, whose economic payoff is unaffected by the norm violation, may be...

Persistent link: https://www.econbiz.de/10005125599

A PUSH TO GEORGE ( IN ) BUSH

DR.VSR.SUBRAMANIAM - EconWPA - 2005

An imperative need has arisen to provide a Constructive push to the President Bush. American population, Corporate units, Expatriates and all nations with their currency related to US $, are not happy in the current $ dipping situation. Even the currencies of poor nations are galloping upward in...

Persistent link: https://www.econbiz.de/10005556940

A Dynamic Analysis of Bid-Ask Spreads with Multiple Trade Sizes

Takayama, Shino; Ozsoylev, Han - EconWPA - 2005

This paper studies how the trade size and the historical sequence of trades affect bid-ask spreads, investors’ trading strategies, and the market maker’s learning process in a multi-period economy. First, we show that there is a nonzero cut-off size below which informed traders never buy or...

Persistent link: https://www.econbiz.de/10005413239

Jeopardy, non-public information, and insider trading around SEC 10-K and 10-Q filings

Huddart, Steven; Ke, Bin; Shi, Charles - EconWPA - 2005

Evidence contrasting insider trades in the U.S. between high- and low- jeopardy periods and across firms at high and low risk for 10b-5 litigation indicates insiders condition their trades on foreknowledge of price-relevant public disclosures, but avoid profitable trades when jeopardy due to...

Persistent link: https://www.econbiz.de/10005561011

Is Perfect Price Discrimination Really Efficient? An Analysis of Free Entry Equilibria

Bhaskar, V.; To, Ted - EconWPA - 2000

discrimination ensures efficient output decisions given product characteristics, coordination failures may prevent efficiency in the …

Persistent link: https://www.econbiz.de/10005076900

Advertising, Pricing & Market Structure in Competitive Matching Markets

Bataille, Edner; Julien, Benoit - EconWPA - 2005

This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers. Sellers' expenditure on directly informative advertising attracts consumers only probabilistically. Consumers who happen to observe advertisements randomize over the advertised...

Persistent link: https://www.econbiz.de/10005076903

DO EXTERNAL FUNDS YIELD LOWER RETURNS ? RECENT EVIDENCE FROM EAST ASIAN ECONOMIES

Pal, Sarmistha; Driffield, Nigel - EconWPA - 2003

Using a large firm level panel data set from four Asian countries, this paper compares the returns to various internal and external funds. A novel feature of our analysis is that we distinguish between financially constrained and unconstrained firms and determine selectivity-corrected estimates...

Persistent link: https://www.econbiz.de/10005076952

Nonparametric Efficiency Testing of Asian Stock Markets Using Weekly Data

LOS, CORNELIS A. - EconWPA - 2004

The efficiency of speculative markets, as represented by Fama's 1970 fair game model, is tested on weekly price index … efficiency of nervous systems. In particular, the stationarity and independence of the price innovations are tested over ten … stock market efficiency is: Singapore, Thailand, Indonesia, Malaysia, Hong Kong and Taiwan. Singapore's stock market pricing …

Persistent link: https://www.econbiz.de/10005076962

Efficiency-Enhancing Signalling in the Samaritan's Dilemma

Lagerlof, Johan - EconWPA - 2002

Suppose an altruistic person, A, is willing to transfer resources to a second person, B, if B comes upon hard times. If B anticipates that A will act in this manner, B will save too little from both agents' point of view. This is the Samaritan's dilemma. The logic of the dilemma has been...

Persistent link: https://www.econbiz.de/10005077070

Efficiency, subsidies and environmental adaptation of animal farming under CAP.

Mesonada, Carlos San Juan; Sperlich, Stefan; Murillo, Carmen - EconWPA - 2005

, subsidies and efficiency the of animal farming. To this end we first have to identify the production frontier and relative … efficiency level for each animal oriented type of farm in the sample. The production frontier and efficiency index for each type … between relative efficiency, farm size and environmentally friendly behavior realizing a non parametric regression of …

Persistent link: https://www.econbiz.de/10005124877

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