Narrow search
Showing 1 - 10 of 167
Cover Image
On the causes and consequences of deviations from rational behavior
Zēgners, Dainis; Sunde, Uwe; Strittmatter, Anthony - 2020
This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making - and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...
Persistent link: https://www.econbiz.de/10012237567
Cover Image
Foreign exchange dealer asset pricing
Reitz, Stefan; Umlandt, Dennis - 2019
We show that excess returns to the carry trade can be interpreted as compensation for foreign exchange dealers' capital risk. Given that the top market makers in foreign exchange are at the heart of the market's information aggregation process we also suggest that it is their marginal value of...
Persistent link: https://www.econbiz.de/10012109710
Cover Image
Integration benefits on EU retail credit markets : evidence from interest rate pass-through
Heinemann, Friedrich - 2002
convergence of adjustment speed on the fastest levels. …
Persistent link: https://www.econbiz.de/10013428476
Cover Image
From selling goods to selling services : firm responses to trade liberalization
Breinlich, Holger; Soderbery, Anson; Wright, Greg C. - 2014
Persistent link: https://www.econbiz.de/10010464969
Cover Image
Adaptation, Anticipation-bias and optimal income taxation
Aronsson, Thomas; Schöb, Ronnie - 2012
Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers...
Persistent link: https://www.econbiz.de/10009559801
Cover Image
Does fixed-term contract employment raise firms' adjustment-speed? : evidence from an establishment panel for West-Germany
Hagen, Tobias - 2001
, empirical studies using industry-level data find no significant effect of FTCs on employment adjustment. This paper investigates …-Establishment Panel for West Germany in 1996-2000. Using a GMM estimator and comparing the estimated adjustment of total employment to the … adjustment of permanent contract employment some evidence is found that FTCs raise firms' adjustment-speed. …
Persistent link: https://www.econbiz.de/10013428438
Cover Image
Ever since Allais
Dembo, Aluma; Kariv, Shachar; Polisson, Matthew; Quah, … - 2021
Persistent link: https://www.econbiz.de/10012821448
Cover Image
Market failure vs. system failure as a rationale for EU regional policy? : a critique from an evolutionary economic perspective
Schmidt, Peter - 2015 - Draft
This paper reconsiders the economic explanation of EU regional policy from an evolution- ary perspective. It contrasts the neoclassical equilibrium notions of market and government failure with the prevalent evolutionary neo-Schumpeterian and Austrian-Hayekian perceptions. Based on this...
Persistent link: https://www.econbiz.de/10011479448
Cover Image
Stock market volatility and learning
Adam, Klaus; Marcet, Albert; Nicolini, Juan Pablo - 2011
Persistent link: https://www.econbiz.de/10009308272
Cover Image
Collateral requirements and asset prices
Brumm, Johannes; Grill, Michael; Kubler, Felix; … - 2013
Many assets derive their value not only from future cash flows but also from their ability to serve as collateral. In this paper, we investigate this collateral value and its impact on asset returns in an infinite-horizon general equilibrium model with heterogeneous agents facing collateral...
Persistent link: https://www.econbiz.de/10010203684