Narrow search
Showing 1 - 10 of 259
Cover Image
Presents or investments? : an experimental analysis
Genîzî, Ûrî; Güth, Werner; Verboven, Frank - 1998
.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …
Persistent link: https://www.econbiz.de/10009578011
Cover Image
Optimal consumption choice for ratchet investors
Riedel, Frank - 2001
The utility maximization problem of "ratchet investors" who do not tolerate any decline in their consumption rate is solved explicitly for all felicity functions in a Markovian framework which includes Brownian motion and Poisson processes as special cases. The optimal consumption plan turns out...
Persistent link: https://www.econbiz.de/10009616776
Cover Image
Trust and reciprocity in the investment game with indirect reward
Güth, Werner; Königstein, Manfred; Marchand, Nadège; … - 2000
contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …
Persistent link: https://www.econbiz.de/10009612013
Cover Image
Price variability and price dispersion in a stable monetary environment : evidence from German retail markets
Fengler, Matthias R.; Winter, Joachim - 2000
We investigate the relationship between inflation and price variation using highly disaggregated, weekly price data for … consumption goods recorded in Germany during 1995, a low inflation period. We find a significant positive correlation between the … correlated with price changes. As the rate of inflation rises, both variability and dispersion become affected. During …
Persistent link: https://www.econbiz.de/10009612033
Cover Image
Quantile hedging
Föllmer, Hans; Leukert, Peter - 1998
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...
Persistent link: https://www.econbiz.de/10009574876
Cover Image
On model based seasonal adjustment procedures
Breitung, Jörg - 1998
In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...
Persistent link: https://www.econbiz.de/10009574877
Cover Image
The monetary model of the exchange rate : a structural interpretation
Moersch, Mathias; Nautz, Dieter - 1998
We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...
Persistent link: https://www.econbiz.de/10009574885
Cover Image
Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules
Güth, Werner - 1998 - Rev.
Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...
Persistent link: https://www.econbiz.de/10009574886
Cover Image
Smooth discrimination analysis
Mammen, Enno; Cybakov, Aleksandr B. - 1998
Discriminant analysis for two data sets in IRd with probability densities f and g can be based on the estimation of the set G = {x : f(x) ≥ g(x)}. We consider applications where it is appropriate to assume that the region G has a smooth boundary. In particular, this assumption makes sense if...
Persistent link: https://www.econbiz.de/10009574887
Cover Image
Local risk-minimization under transaction costs
Lamberton, Damien; Pham, Huyên; Schweizer, Martin - 1998
We propose a new approach to the pricing and hedging of contingent claims under transaction costs in a general incomplete market in discrete time. Under the assumptions of a bounded mean-variance tradeoff, substantial risk and a nondegeneracy condition on the conditional variances of asset...
Persistent link: https://www.econbiz.de/10009576212