Showing 1 - 10 of 32
This paper addresses the issue of the choice of the optimal instrument to sell new shares, this choice being price versus quantity discrimination (rationing). Previous results in the literature (Benveniste and Wilhelm, 1990) show that the issuing firm would be better off if allowed to use both...
Persistent link: https://www.econbiz.de/10005504901
This paper studies patenting decisions by firms in relation to the negotiation and signing of the Helsinki and Oslo protocol as part of the Convention on Long-Range Transboundary Air Pollution. We use a uniquely constructed patent data set on SO2 abatement technologies filed in 15 signatory and...
Persistent link: https://www.econbiz.de/10004987451
This paper considers a simple Continuous Beliefs System (CBS) to investigate the effects on price dynamics of several behavioral assumptions: (i) herd behaviour; (ii) a-synchronous updating of beliefs; and (iii) heterogeneity in time horizons (memory) among agents. The recently introduced...
Persistent link: https://www.econbiz.de/10005144520
We evaluate the impact of technology adoption subsidies on in- vestment behavior in an individual choice experiment. In a laboratory setting professional managers are confronted with an intertemporal decision problem in which they have to decide whether or not to search for, and possibly adopt,...
Persistent link: https://www.econbiz.de/10005144521
Most empirical studies assume only monotonic preferences for households. Behavioral research however provides substantial evidence that preferences for wealth are measured relative to a reference point. In this paper we introduce and solve a two-period consumption and savings model for a...
Persistent link: https://www.econbiz.de/10005450755
Private wealth holdings are likely to become an increasingly important determinant in the job exit decision of elderly workers. Net wealth may correlate with worker's characteristics that also determine the exit out of a job. It is therefore important to include a rich set of observed...
Persistent link: https://www.econbiz.de/10005504893
Using a unique panel data set for rural households in Zimbabwe we estimate a
Persistent link: https://www.econbiz.de/10005504912
Since the early nineties, the Dutch tax system allows for a tax-favored form of risk free savings through employer- sponsored savings plans (ESSPs). Under some conditions and up to a certain amount, the contributions to this plan are tax-deductible, and the returns as well as the withdrawals are...
Persistent link: https://www.econbiz.de/10005795582
Many empirical studies on intertemporal choice report preference reversals in the sense that a preference between a small reward to be received soon and a larger reward to be received later reverses as both rewards are equally delayed. Such preference reversals are commonly interpreted as...
Persistent link: https://www.econbiz.de/10008513236
Understanding of the substantial disparity in health between low and high socioeconomic status (SES) groups is hampered by the lack of a suffciently comprehensive theoretical framework to interpret empirical facts and to predict yet untested relations. We present a life-cycle model that...
Persistent link: https://www.econbiz.de/10008484063