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Knightian Uncertainty, k-Ignorance, and Optimal Timing
Alvarez, Luis H. R. - 2007
We investigate within a continuous time setting how Knightian uncertainty characterized by k-ignorance affects the optimal timing policies of a risk-neutral and uncertainty averse investor in the case where the exercise payoff is monotonic. We prove that increased Knightian uncertainty...
Persistent link: https://www.econbiz.de/10012502979
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Serving the right menu of R&D policy instruments to firms : an analysis of policy mix sequencing
Lenihahn, Helena; Mulligan, Kevin; Perez-Alaniz, Mauricio; … - 2023
The R&D policy instrument mix concept has become increasingly important for understanding how public R&D support drives firm-level R&D. To-date, empirical studies have conceptualised the instrument mix as a static unit, whereby firms receive multiple policy instruments at one point in time....
Persistent link: https://www.econbiz.de/10014305743
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Boolean representations of preferences under ambiguity
Frick, Mira; Iijima, Ryota; Le Yaouanq, Yves - 2019
We propose a class of multiple-prior representations of preferences under ambiguity where the belief the decision … Optimism. The model does not restrict the sign of the DM's ambiguity attitude, and we show that it provides a unified framework … through which to characterize different degrees of ambiguity aversion, as well as to represent context-dependent negative and …
Persistent link: https://www.econbiz.de/10012064758
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Robust contracting in general contract spaces
Backhoff-Veraguas, Julio; Beißner, Patrick; Horst, Ulrich - 2020
We consider a general framework of optimal mechanism design under adverse selection and ambiguity about the type …
Persistent link: https://www.econbiz.de/10012237443
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Objective rationality foundations for (dynamic) α-MEU
Frick, Mira; Iijima, Ryota; Le Yaouanq, Yves - 2020
the α-MEU model of choice under ambiguity (Hurwicz, 1951) can overcome several challenges faced by the baseline model …
Persistent link: https://www.econbiz.de/10012255858
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Markup responses to Chinese imports
Meinen, Philipp - 2016
This paper analyzes markup responses of Danish firms to Chinese imports. Besides negative markup responses due to competitive pressure, we present some evidence for marginal cost savings related to Chinese intermediate goods imports which tend to raise firm-level markups.
Persistent link: https://www.econbiz.de/10011434402
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From financial to real economic crisis : evidence from individual firm-bank relationships in Germany
Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - First version: February 14, 2015, This version: September 25, 2015
What began as a financial crisis in the United States in 2007-2008 quickly evolved into a massive crisis of the global real economy. We investigate the importance of the bank lending and firm borrowing channel in the international transmission of bank distress to the real economy - in...
Persistent link: https://www.econbiz.de/10011346644
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From friends to foes : national identity and collaboration in diverse teams
Laurentsyeva, Nadzeya - 2019
This project studies collaboration in highly skilled, nationally diverse teams. An unexpected international political conflict makes national diversity more salient among existing and potential team members. I exploit this natural experiment to quantify the role of social, identity-driven, costs...
Persistent link: https://www.econbiz.de/10012139577
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Firm organization with multiple establishments
Gumpert, Anna; Steimer, Henrike; Antoni, Manfred - 2019
How do geographic frictions affect firm organization? We show theoretically and empirically that geographic frictions increase the use of middle managers in multi-establishment firms. In our model, we assume that a CEO's time is a resource in limited supply, shared across headquarters and...
Persistent link: https://www.econbiz.de/10012034135
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Unemployment benefit duration and startup success
Camarero Garcia, Sebastian; Murmann, Martin - 2020
Despite the importance of business creation for the economy and a relevant share of new firms being started out of unemployment, most research has focused on analyzing the effect of unemployment insurance (UI) policies on reemployment outcomes that ignore self-employment. In this paper, we...
Persistent link: https://www.econbiz.de/10012241969