Similar Search Results

Wiggers, Andreas - University of Bonn, Germany - 2002

Not only corporate but also sovereign debtors, in particular developing countries, may get into financial difficulties. Contrary to corporate issuers, they decide themselves if they continue to fulfill their debt obligations or convert their debt. I analyze the value of a default-risky sovereign...

Persistent link: https://www.econbiz.de/10004968369

Kreditrationierung und Kreditsicherung

Hellwig, Martin - University of Bonn, Germany - 1988

Persistent link: https://www.econbiz.de/10004989576

A Tree Implementation of a Credit Spread Model for Credit Derivatives

Schönbucher, Philipp J. - University of Bonn, Germany - 2000

In this paper we present a tree model for defaultable bond prices which can be used for the pricing of credit … factors is taken to be the credit spread of the defaultable bond prices. As opposed to the tree model of Jarrow and Turnbull … (1992), the dynamics of default-free interest rates and credit spreads in this model can have any desired degree of …

Persistent link: https://www.econbiz.de/10005032227

Nominalist Heuristics and Economic Theory

Pope, Robin; Selten, Reinhard; Kube, Sebastian - University of Bonn, Germany - 2009

This paper introduces a new theoretic entity, a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are incompatible with expected utility theory which excludes...

Persistent link: https://www.econbiz.de/10004964146

Prominent Numbers, Indices and Ratios in Exchange Rate Determination and Financial Crashes: in Economists’ Models, in the Field and in the Laboratory

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - University of Bonn, Germany - 2009

The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...

Persistent link: https://www.econbiz.de/10004964148

An Experimental Investigation of the Option Pricing Approach

Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany - 1996

The Paper reports a basic Experiment on the option pricing approach. Each trader with an increasing utility for money …

Persistent link: https://www.econbiz.de/10004968214

An Options Pricing Experiment with Professional Traders

Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany

This paper reports an option pricing experiment on the binomial model, which has been conducted with professional … traders of financial assets. The experimental results are compared to a corresponding experiment with students. The data show …

Persistent link: https://www.econbiz.de/10004968286

Ein Optionsbewertungsexperiment mit professionellen Tradern

Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany

Dieser Aufsatz beschreibt ein Optionsbewertungsexperiment zum Binomialmodell, das mit professionellen Tradern von Finanztiteln durchgeführt wurde. Die Ergebnisse dieses Experiments werden mit denen eines entsprechenden Versuchs mit Studenten verglichen. Es zeigt sich, daß die professionellen...

Persistent link: https://www.econbiz.de/10004968326

Exchange Rate Determination: A Model of the Decisive Role of Central Bank Cooperation and Conflict

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Kaiser, … - University of Bonn, Germany - 2007

Opinion is divided on whether it is better to have a single world Â money or variable exchange rates. Â Pope, Selten and von Hagen (2003) Â propose that fresh light would be shed via an analysis that allows Â for seven complexity impacts on the exchange rate that are Â underplayed...

Persistent link: https://www.econbiz.de/10004968330

Exploring Group Behavior in a Power-to-Take Video Experiment

Bosman, Ronald; Hennig-Schmidt, Heike; vanWinden, Frans - University of Bonn, Germany - 2002

This paper experimentally explores group decision-making in a two-player power-to-take game. Discussions preceding group decisions are video taped and analyzed. Each subject first earns an income in an individual effort task preceding the game. The game consists of two stages. First, one group...

Persistent link: https://www.econbiz.de/10004968336