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Uncertainty and Company Investment Dynamics: Empirical Evidence for UK Firms

Bloom, Nicholas; Bond, Stephen Roy; Van Reenen, John - C.E.P.R. Discussion Papers - 2003

This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by the real options literature, which suggests a weaker response of investment to demand shocks at higher levels of uncertainty, as firms place a greater value on the option to wait....

Persistent link: https://www.econbiz.de/10005666662

What Determines the Future Value of an Icon Wine? New Evidence from Australia

Anderson, Kym; Wood, Danielle - C.E.P.R. Discussion Papers - 2005

To what extent can the future price of icon wines be anticipated from information available at the time of their initial sale by wineries? Using a hedonic model we show that weather variables and changes in production techniques, along with the age of the wine, have significant power in...

Persistent link: https://www.econbiz.de/10005792399

Water Nationalization: network access, water quality, and health outcomes

Borraz, Fernando; González, Nicolás; Olarreaga, Marcelo - C.E.P.R. Discussion Papers - 2011

In the case of natural monopolies there tends to be a trade-off between a higher quality of output provided by private firms, and a better access for poor consumers provided by public firms. This is partly the reflection of differences in objectives by private and public firms. The former tend...

Persistent link: https://www.econbiz.de/10009643502

The Evaluation of Citation Distributions

Ruiz-Castillo, Javier - C.E.P.R. Discussion Papers - 2011

analysis is useful in the evaluation of the citations received by scientific papers in the periodical literature. The paper … begins by clarifying the role of citation analysis in the evaluation of research. Next, a summary of results about the … novel methodology for the evaluation of research units is illustrated by comparing the high- and low-citation impact …

Persistent link: https://www.econbiz.de/10009365007

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

Basak, Suleyman; Pavlova, Anna; Shapiro, Alex - C.E.P.R. Discussion Papers - 2005

Money managers are rewarded for increasing the value of assets under management, and predominantly so in the mutual fund industry. This gives the manager an implicit incentive to exploit the well-documented positive fund-flows to relative-performance relationship by manipulating her risk...

Persistent link: https://www.econbiz.de/10005666418

Optimal Asset Allocation and Risk Shifting in Money Management

Basak, Suleyman; Pavlova, Anna; Shapiro, Alex - C.E.P.R. Discussion Papers - 2006

Persistent link: https://www.econbiz.de/10005666676

Does Responsive Pricing Increase Efficiency? Evidence from Pricing Experiments in an Internet Café

Courty, Pascal; Pagliero, Mario - C.E.P.R. Discussion Papers - 2003

Responsive pricing proposes to increase efficiency by introducing a direct linkage between market conditions and changes in prices. This link is established by giving selective discounts that vary in real time as a function of the level of unused capacity. Using data from a unique pricing...

Persistent link: https://www.econbiz.de/10005666731

Peripheral Diversity and Redistribution

Desmet, Klaus; Ortuño-Ortín, Ignacio; Weber, Shlomo - C.E.P.R. Discussion Papers - 2005

This paper investigates the effect of ethnolinguistic conflict on redistribution. The analysis focuses on the conflict arising between ‘peripheral’ minority groups and a dominant ‘centre’. We propose an index of linguistic conflict that (i) encompasses both diversity and polarization,...

Persistent link: https://www.econbiz.de/10005666970

Trust and Bribery: The Role of the Quid Pro Quo and the Link With Crime

Hunt, Jennifer - C.E.P.R. Discussion Papers - 2004

I study data on bribes actually paid by individuals to public officials, viewing the results through a theoretical lens that considers the implications of trust networks. A bond of trust may permit an implicit quid pro quo to substitute for a bribe, which reduces corruption. Appropriate networks...

Persistent link: https://www.econbiz.de/10005667098

Materialism on the March: From Conspicuous Leisure to Conspicuous Consumption?

Frijters, Paul; Leigh, Andrew - Research School of Economics, College of Business and … - 2005

This paper inserts Veblen’s (1898) concepts of conspicuous leisure and conspicuous consumption into a very simple model. Individuals have the choice to either invest their time into working, leading to easily observable levels of consumption, or into conspicuous leisure, whose effect on...

Persistent link: https://www.econbiz.de/10004967997

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