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Dynamic correlation: A tool hedging house-price risk?

Berg, Nathan; Gu, Anthony Y.; Lien, Donald - Volkswirtschaftliche Fakultät, … - 2007

Dynamic correlation models demonstrate that the relationship between interest rates and housing prices is non-constant. Estimates reveal statistically significant time fluctuations in correlations between housing price indexes and Treasury bonds, the S&P 500 Index, and stock prices of...

Persistent link: https://www.econbiz.de/10008694163

Modeling with scenarios: technology in north-south development

Chichilnisky, Graciela; Cole, Sam - Volkswirtschaftliche Fakultät, … - 1978

This article outlines work in progress on a study of technological choice in the context of North-South development. Its main purpose is to describe the methodology being developed in the pilot phase of the study. This is of interest because it links together a number of analytic...

Persistent link: https://www.econbiz.de/10005837262

The comeback of the Swiss watch industry on the world market: a business history of the Swatch Group (1983-2010)

Donzé, Pierre-Yves - Volkswirtschaftliche Fakultät, … - 2011

The objective of this paper is to contribute to a better understanding of the comeback of the Swiss watch industry on the world market since the end of the 1980s. It focuses on the Swatch Group (SG), currently the world’s biggest watch company. In 1983, the merger of the largest watch group...

Persistent link: https://www.econbiz.de/10009019737

Production of (Pleasant) Time by Means of (Unpleasant) Time: Some Notes on Consumption Theory and Time Use

Nisticò, Sergio - Volkswirtschaftliche Fakultät, … - 2010

The aim of this paper is to propose an analytical framework, wherein the individuals' choice problem is addressed in terms of alternative time‐consuming activities rather than in terms of alternative bundles of goods and services. In particular, the paper reverses Becker's (1965) proposal to...

Persistent link: https://www.econbiz.de/10011260399

Liquidität, Risikoeinstellung des Kapitalmarktes und Konjunkturerwartung als Preisdeterminanten von Collateralized Debt Obligations (CDOs) - Eine simulationsgestützte Analyse

Gann, Philipp - Volkswirtschaftliche Fakultät, … - 2009

Gegenstand der vorliegenden Arbeit ist die Analyse des Einflusses der Faktoren Konjunkturerwartung, Risikoaversion des … Risikoaversion des Kapitalmarktes auf die Marktwerte von CDOs verschiedener Seniorität analysiert. Die Höhe der Risikoaversion … und die Höhe der Risikoaversion des Kapitalmarktes die Kreditvergabestandards der Institute zu beeinflussen vermag …

Persistent link: https://www.econbiz.de/10005187262

Performance Pay and Risk Aversion

Grund, Christian; Sliwka, Dirk - Volkswirtschaftliche Fakultät, … - 2006

A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in …

Persistent link: https://www.econbiz.de/10005835229

Measuring Investors' Risk Appetite

Gai, Prasanna; Vause, Nicholas - Volkswirtschaftliche Fakultät, … - 2005

This paper proposes a method for measuring investor risk appetite based on the variation in the ratio of risk-neutral to subjective probabilities used by investors in evaluating possible future returns to an asset. Unlike other indicators advanced in the literature, our measure of market...

Persistent link: https://www.econbiz.de/10005835420

Estimating risk aversion from ascending and sealed-bid auctions: the case of timber auction data

Lu, Jingfeng; Perrigne, Isabelle - Volkswirtschaftliche Fakultät, … - 2006

Estimating bidders’ risk aversion in auctions is a challeging problem because of identification issues. This paper takes advantage of bidding data from two auction designs to identify nonparametrically the bidders’ utility function within a private value framework. In particular, ascending...

Persistent link: https://www.econbiz.de/10005835752

Recovering Probabilities and Risk Aversion from Option Prices and Realized Returns

Jackwerth, Jens Carsten; Rubinstein, Mark - Volkswirtschaftliche Fakultät, … - 2003

This paper summarizes a program of research we have conducted over the past four years. So far, it has produced two published articles, one forthcoming paper, one working paper currently under review at a journal, and three working papers in progress. The research concerns the recovery of...

Persistent link: https://www.econbiz.de/10005837385

Legal Interpretative Process and Litigants’ Cognitive Biases

Deffains, Bruno; Langlais, Eric - Volkswirtschaftliche Fakultät, … - 2008

For contemporary legal theory, law is essentially an interpretative and hermeneutic practice (Ackerman (1991), Horwitz … sufficient by themselves to understand the behaviors of litigants. As suggested by legal theory, the confidence the parties have …

Persistent link: https://www.econbiz.de/10005837401

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