Employing implicit discount rates (derived from subjects' cash-flow responses) previous experimental studies find that the order of magnitude of the implicit rates is higher than actual capital-market rates, and that the impact of time (t) and (S) of the cash-flow on discount rates (R) is...

This study investigates the causal relationship between the Volatility Index (VIX), as an indicator of fear sentiment, and the price of gold futures. We apply tests of causality in-mean and in-variance to recent data about US gold futures and find bidirectional causality in-mean and in-variance...

In this study we use a sample of 334 S&P500 companies to examine the extent to which financially distressed firms pay dividends in order to attract investors. We find a higher dividend yield and a higher pay-out ratio for financially distressed firms than for financially stable firms. We also...

Stock options are usually sold in bundles of 100 units, and their price can be quoted either per unit or per bundle. In this article, the effect of different methods of quoting financial asset prices on the subjective value of a contract was examined experimentally. In particular, we examined...

The study examined the impact of preferences for an item on the Willingness to Pay (WTP) and Willingness to Accept (WTA). The results show that the differences between biddings for preferred and less preferred items are smaller in the selling position than in the buying position. This result can...