Showing 1 - 10 of 150
Public service motivation is often considered as an argument for low- powered incentive schemes in the public sector. In this paper, we characterize the optimal contract between a public regulator and an altruistic agent according to the degree of public service motivation, when the type of the...
Persistent link: https://www.econbiz.de/10010707800
Définition et spécificité des contrats et des marchés à terme de matières premières, des principaux marchés à terme de matières premières, des marchés d'options et la gestion du risque de prix, des marchés de gré à gré et la gestion du risque de prix.
Persistent link: https://www.econbiz.de/10011073111
Persistent link: https://www.econbiz.de/10010708526
This paper reconsiders the theory of existence of efficient allocations and equilibria when consumption sets are … unbounded below under the assumption that agents have incomplete preferences. Our model is motivated by an example in the theory … of assets with short-selling where there is risk and ambiguity. Agents have Bewley’s incomplete preferences. As an …
Persistent link: https://www.econbiz.de/10010799311
The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … of the risk adjusted sets of expectations overlap. This condition is necessary if agents are not risk neutral at extreme … compatible trades, with non negative expected value with respect to any risk adjusted prior, strictly positive for some agent and …
Persistent link: https://www.econbiz.de/10011072068
indeed provide liquidity, is challenged by the price risk they bear due to their inventory. In this paper, we provide optimal …
Persistent link: https://www.econbiz.de/10010706651
The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … averse variational preferences. No-arbitrage conditions are given in terms of risk adjusted priors. A sufficient condition … for existence of efficient allocations is the overlapping of the interiors of the risk adjusted sets of priors or the …
Persistent link: https://www.econbiz.de/10010708543
it creates with the very foundations of economic theory. …
Persistent link: https://www.econbiz.de/10011074159
For more than 20 years the Nordic scholars have been major contributors to the advancement of knowledge in orgganization studies. Four aspects are considered: they are both global oriented and locally embedded, they combine disciplinary roots with interdisciplinary openess, they are functioning...
Persistent link: https://www.econbiz.de/10011144038
Persistent link: https://www.econbiz.de/10010707233