Showing 1 - 10 of 57
In the analysis of equilibrium policies in a dierential game, if agents have different time preference rates, the cooperative (Pareto optimum) solution obtained by applying the Pontryagin's Maximum Principle becomes time inconsistent. In this work we derive a set of dynamic programming equations...
Persistent link: https://www.econbiz.de/10009002757
In this paper we analyze a stochastic continuous time model in finite horizon in which agents discount the instantaneous utility function and the final function at constant but different instantaneous discount rates of time preference. Within this context we can model problems in which, when the...
Persistent link: https://www.econbiz.de/10009366333
This paper derives the HJB (Hamilton-Jacobi-Bellman) equation for sophisticated agents in a finite horizon dynamic optimization problem with non-constant discounting in a continuous setting, by using a dynamic programming approach. A simple example is used in order to illustrate the...
Persistent link: https://www.econbiz.de/10005120746
This article designs what it calls a Credit-Risk Balance Sheet (the risk being that of default by customers), a tool which, in principle, can contribute to revealing, controlling and managing the bad debt risk arising from a companys commercial credit, whose amount can represent a significant...
Persistent link: https://www.econbiz.de/10005022319
This study contributes to developing our understanding of gender and family business, a topic so crucial to recent policies about competitive growth. It does so by providing an interdisciplinary synthesis of some major theoretical debates. It also contributes to this understanding by...
Persistent link: https://www.econbiz.de/10005120739
The aim of this study is to reflect which the main competitive factors for small and medium businesses are today in Catalonia. For this reason, it has been chosen a sample of 1000 small businesses approximately (according the EU criteria) and analysed the financial information. From this source,...
Persistent link: https://www.econbiz.de/10005176393
This article has an immediate predecessor, upon which it is based and with which readers must necessarily be familiar: Towards a Theory of the Credit-Risk Balance Sheet (Vallverdu, Somoza and Moya, 2006). The Balance Sheet is conceptualised on the basis of the duality of a credit-based...
Persistent link: https://www.econbiz.de/10005176422
Most of the large firms organization schemes consist in hierarchical structures of tiers with different wage levels. Traditionally the existence of this kind of organizations has been associated to the separation of productive and managerial or supervision tasks and to differences in the skills...
Persistent link: https://www.econbiz.de/10005022351
We provide explicit formulas for the nucleolus of an arbitrary assignment game with two buyers and two sellers. Five different cases are analyzed depending on the entries of the assignment matrix. We extend the results to the case of 2 m or m 2 assignment games.
Persistent link: https://www.econbiz.de/10010817236
A multi-sided Bohm-Bawerk assignment game (Tejada, to appear) is a model for a multilateral market with a finite number of perfectly complementary indivisible com- modities owned by different sellers, and inflexible demand and support functions. We show that for each such market game there is a...
Persistent link: https://www.econbiz.de/10010817237