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Cohen, Galit; Nijkamp, Peter - Tinbergen Institute - 2002

Information and Communication Technologies (ICT) have become important tools to promote a variety of public goals and policies. In the past years much attention has been given to the expected social benefits from deploying ICT in different fields (transportation, education, public participation...

Persistent link: https://www.econbiz.de/10005137051

Modeling ICT Perceptions and Views of Urban Front Liners

Cohen-Blankenstain, Galit; Nijkamp, Peter; Montfort, … - Tinbergen Institute - 2003

This paper offers both a conceptual and an operational model that aims to map out the causes and implications of ICT perceptions and views of urban policy makers and/or administrative officials (denoted as urban front liners). This is followed by the presentation of an opera- tional path model,...

Persistent link: https://www.econbiz.de/10005137074

How Risky is Investment in Human Capital?

Hartog, Joop; Ophem, Hans van; Bajdechi, Simona Maria - Tinbergen Institute - 2004

The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying … alternative options. choosing parameters on basis of the very limited evidence. The distribution of rates of return appears …

Persistent link: https://www.econbiz.de/10005136960

Quantifying the Scope for Efficiency Defense in Merger Control: The Werden-Froeb-Index

Goppelsroeder, Marie; Schinkel, Maarten Pieter; … - Tinbergen Institute - 2006

This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal … mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices … has relatively low information requirements. We propose to use the index as a natural complement to concentration measures …

Persistent link: https://www.econbiz.de/10005137169

Interacting Agents in Finance

Hommes, Cars - Tinbergen Institute - 2006

Interacting agents in finance represent a behavioral, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behavior in response...

Persistent link: https://www.econbiz.de/10005209457

Price Clustering and Natural Resistance Points in the Dutch Stock Market

Sonnemans, Joep - Tinbergen Institute - 2003

The main contribution of this study is the finding that round numbers can act as price barriers for individual stocks. In addition, a first step is made to explain this and the related phenomena of round number clustering by testing two competing hypotheses, using data from the Dutch stock...

Persistent link: https://www.econbiz.de/10005144541

Explaining Hedge Fund Investment Styles by Loss Aversion

Siegmann, Arjen; Lucas, André - Tinbergen Institute - 2002

Recent research reveals that hedge fund returns exhibit a range of different, possibly non-linear pay-off patterns. It is difficult to qualify all these patterns simultaneously as being rational in a traditional framework for optimal financial decision making. In this paper we present a simple...

Persistent link: https://www.econbiz.de/10005144566

Behavioral Heterogeneity in Stock Prices

Boswijk, Peter; Hommes, Cars H.; Manzan, Sebastiano - Tinbergen Institute - 2005

We estimate a dynamic asset pricing model characterized by heterogeneous boundedly rational agents. The fundamental value of the risky asset is publicly available to all agents, but they have different beliefs about the persistence of deviations of stock prices from the fundamental benchmark. An...

Persistent link: https://www.econbiz.de/10005137087