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The Welfare Effects of Discrimination in Insurance

Noll, Rob van der - Tinbergen Instituut - 2006

We study an insurance model characterized by a continuum of risk types, private information and a competitive supply …

Persistent link: https://www.econbiz.de/10011256965

Kula, Grzegorz - Tinbergen Instituut - 2003

worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level …This paper focuses on the relation between worker's productivity and retirement decision. Assuming that productivity … of income and benefits is set to maximize lifetime utility. In such framework we find the retirement threshold of …

Persistent link: https://www.econbiz.de/10011257396

Microeconomic Evidence of Creative Destruction in Industrial and Developing Countries

Bartelsman, Eric J.; Haltiwanger, John; Scarpetta, Stefano - Tinbergen Instituut - 2004

In this paper we provide an analysis of the process of creative destruction across 24 countries and 2-digit industries over the past decade. We rely on a newly assembled dataset that draws from different micro data sources (business registers, census, or representative enterprise surveys). The...

Persistent link: https://www.econbiz.de/10011255936

The Value of an Educated Population for an Individual's Entrepreneurship Success

Millan, Jose Maria; Congregado, Emilio; Roman, Concepcion; … - Tinbergen Instituut - 2011

survival and the probability that an entrepreneur starts employing personnel and maintains as an employer for a longer period …

Persistent link: https://www.econbiz.de/10011256412

Do Services differ from Manufacturing? The Post-Entry Performance of Firms in Dutch Services

Audretsch, D.B.; Klomp, Luuk; Thurik, A.R. - Tinbergen Instituut - 1998

firm growth, survival, size and age. While these studies have resulted in findings that aresufficiently consistent as to … therelationships between firm age and size on the one hand, and survival and growth on the other may, infact, not be the same in …. The resultssuggest that the most fundamental relationships between firm size, age, survival and growth arestrikingly …

Persistent link: https://www.econbiz.de/10011256423

Stochastic Dominance Efficiency Analysis of Diversified Portfolios: Classification, Comparison and Refinements

Lizyayev, Andrey - Tinbergen Instituut - 2010

For more than three decades, empirical analysis of stochastic dominance was restricted to settings with mutually exclusive choice alternatives. In recent years, a number of methods for testing efficiency of diversified portfolios have emerged, which can be classified into three main categories:...

Persistent link: https://www.econbiz.de/10011255464

Econometric Analysis of Financial Derivatives: An Overview

Chang, Chia-Lin; McAleer, Michael - Tinbergen Instituut - 2014

One of the fastest growing areas in empirical finance, and also one of the least rigorously analyzed, especially from a financial econometrics perspective, is the econometric analysis of financial derivatives, which are typically complicated and difficult to analyze. The purpose of this special...

Persistent link: https://www.econbiz.de/10011256249

Stochastic Dominance: Convexity and Some Efficiency Tests

Lizyayev, Andrey M. - Tinbergen Instituut - 2009

This paper points out the importance of Stochastic Dominance (SD) efficient sets being convex. We reviewclassic convexity and efficient set characterization results on SD efficiency of a given portfolio relative to adiversified set of assets and generalize them in the following aspects. First,...

Persistent link: https://www.econbiz.de/10011256268

Risk-averse and Risk-seeking Investor Preferences for Oil Spot and Futures

Lean, Hooi Hooi; McAleer, Michael - Tinbergen Instituut - 2013

This paper examines risk-averse and risk-seeking investor preferences for oil spot and futures prices by using the mean-variance (MV) criterion and stochastic dominance (SD) approach. The MV findings cannot distinguish between the preferences of spot and futures markets. However, the SD tests...

Persistent link: https://www.econbiz.de/10011256736

Inherent Reward and Risk (Part I): Towards a Universal Paradigm for Investment Analysis

Zou, Liang - Tinbergen Instituut - 2000

In this paper, a new paradigm is developed for analyzinginvestment strategies and pricing financial assets. This paradigmassumes that any investment strategy has its own “inherent reward”and “inherent risk” that can be judged with common sense. Ijustify axiomatically the existence and...

Persistent link: https://www.econbiz.de/10011256831