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Tax, Stimuli of Investment and Firm Value

Maoz, Yishay - Volkswirtschaftliche Fakultät, … - 2007

Pennings (2000) has shown that the government can speed-up investment by subsidizing the potential investing firm's entry cost while taxing the future proceeds from the investment, so as to render the net expected value of its subsidy program zero. This note argues that while speeding-up the...

Persistent link: https://www.econbiz.de/10005837091

Cost benefit analysis to assess modular investment: the case of the New Turin-Lyon Railway

Debernardi, Andrea; Grimaldi, Raffaele; Beria, Paolo - Volkswirtschaftliche Fakultät, … - 2011

The assessment of infrastructure investments is often affected by inaccuracy in traffic forecasting, optimism bias and overvaluation of expected benefits. In general, even when such misrepresentation is not strategically introduced by proponents to push their projects, valuators and decision...

Persistent link: https://www.econbiz.de/10009001173

Retirement Decisions in Transition: Microeconometric Evidence from Slovenia

Polanec, Sašo; Ahčan, Aleš; Verbič, Miroslav - Volkswirtschaftliche Fakultät, … - 2010

In this article, we analyse old-age retirement decisions of Slovenian men and women, eligible to retire in the period 1997-2003. In comparison to established market economies, we find relatively high hazard rates of retirement that decline with age. This unusual pattern can partly be attributed...

Persistent link: https://www.econbiz.de/10008836764

An optimal three-way stable and monotonic spectrum of bounds on quantiles: a spectrum of coherent measures of financial risk and economic inequality

Pinelis, Iosif - Volkswirtschaftliche Fakultät, … - 2013

A certain spectrum, indexed by a\in[0,\infty], of upper bounds P_a(X;x) on the tail probability P(X\geq x), with P_0(X;x)=P(X\geq x) and P_\infty(X;x) being the best possible exponential upper bound on P(X\geq x), is shown to be stable and monotonic in a, x, and X, where x is a real number and X...

Persistent link: https://www.econbiz.de/10011107455

Make Almost Stochastic Dominance really Almost

Guo, Xu; Wong, Wing-Keung; Zhu, Lixing - Volkswirtschaftliche Fakultät, … - 2013

Leshno and Levy (2002) extend stochastic dominance (SD) theory to almost stochastic dominance (ASD) for {\it most} decision makers. When comparing any two prospects, Guo, et al.\ (2013) find that there will be ASD relationship even there is only very little difference in mean, variance,...

Persistent link: https://www.econbiz.de/10011107819

Poultry production and rural poverty among small-scale farmers in Mzimba District of Malawi

Assa, Maganga - Volkswirtschaftliche Fakultät, … - 2012

This paper evaluates the role of participating in poultry production on household income and rural poverty in Mzimba … district, Malawi. The study utilizes cross-sectional farm level household data collected in 2011. The paper computes income … farmers. Thus, participating in poultry production has a significant positive impact on household income and poverty reduction. …

Persistent link: https://www.econbiz.de/10011109419

Moment Conditions for Almost Stochastic Dominance

Guo, Xu; Post, Thierry; Wong, Wing-Keung; Zhu, Lixing - Volkswirtschaftliche Fakultät, … - 2013

This study establishes necessary conditions for Almost Stochastic Dominance criteria of various orders. These conditions take the form of restrictions on algebraic combinations of moments of the probability distributions in question. The relevant set of conditions depends on the relevant order...

Persistent link: https://www.econbiz.de/10011111091

Banking Firm and Two-Moment Decision Making

Broll, Udo; Wong, Wing-Keung; Wu, Mojia - Volkswirtschaftliche Fakultät, … - 2013

The economic environment for financial institutions has become increasingly risky. Hence these institutions must find ways to manage risk of which one of the most important forms is interest rate risk. In this paper we use the mean-variance (mean-standard deviation) approach to examine a banking...

Persistent link: https://www.econbiz.de/10011112037

Monotone Methods for Equilibrium Selection under Perfect Foresight Dynamics

Oyama, Daisuke; Takahashi, Satoru; Hofbauer, Josef - Volkswirtschaftliche Fakultät, … - 2003

This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics correspond to the Nash equilibria of the stage game. It is shown that if the stage game has a monotone...

Persistent link: https://www.econbiz.de/10011112753

Almost Stochastic Dominance and Moments

Guo, Xu; Wong, Wing-Keung; Zhu, Lixing - Volkswirtschaftliche Fakultät, … - 2013

This paper first extends the theory of almost stochastic dominance (ASD) to the first four orders. We then establish some equivalent relationships for the first four orders of the ASD. Using these results, we prove formally that the ASD definition modified by Tzeng et al.\ (2012) does not...

Persistent link: https://www.econbiz.de/10011112992