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A durable good monopolist sells its branded product over two periods. In period 2, when there is entry of a counterfeiter, the branded firm may charge a high price to signal its quality. Counterfeit competition thus enables the branded firm to commit to high future price in period 2, alleviating...
Persistent link: https://www.econbiz.de/10011110882
argued that this dual role results in a number of policy dilemmas, namely concerning pricing, traceability of banknotes and … the choice of denominations of coins and banknotes. On a general level, the article argues that central banks should place …
Persistent link: https://www.econbiz.de/10005835926
This is the English language version of the entry on ‘Money’ (‘Geld’) in the ‘Historisch Kritisch Wörterbuch des Marxismus’, a comprehensive dictionary of Marxist terminology being produced as an accompaniment to the Marx-Engels-Gesamt-Arbeite (Marx-Engels collected works), a...
Persistent link: https://www.econbiz.de/10005621653
behavioral performance in a demanding attention task by enhancing evoked responses across a distributed set of anatomical sites …
Persistent link: https://www.econbiz.de/10011260016
attention purposes of their products. It was also observed that the number of channels especially in the electronic media have … also geometrically increased over the last two decades. It is now becoming difficult for advertisers to get the attention … two types of appeals have significant difference when measuring attention between humorous and serious advertisements. At …
Persistent link: https://www.econbiz.de/10005105700
Behavioral finance studies the application of psychology to finance, with a focus on individual-level cognitive biases. I describe here the sources of judgment and decision biases, how they affect trading and market prices, the role of arbitrage and flows of wealth between more rational and less...
Persistent link: https://www.econbiz.de/10011111870
A host of recent studies show that attention allocation has important economic consequences. This paper reports the … first empirical test of a cost-benefit model of the endogenous allocation of attention. The model assumes that economic … tractable predictions about attention allocation, despite the high level of complexity in our environment. The model …
Persistent link: https://www.econbiz.de/10011113378
Information technology-based innovation involves considerable risk that requires insight and foresight. Yet, our understanding of how managers develop the insight to support new breakthrough applications is limited and remains obscured by high levels of technical and market uncertainty. This...
Persistent link: https://www.econbiz.de/10011260273
Modern investment theory takes it for granted that a Security Market Line (SML) is as certain as its "corresponding" Capital Market Line. (CML). However, it can be easily demonstrated that this is not the case. Knightian non-probabilistic, information gap uncertainty exists in the security...
Persistent link: https://www.econbiz.de/10005260204
Against the backdrop of the theories developed in the real options and financing constraints literatures, this paper examines the impact of profit uncertainty and sunk costs on firms’ entry and exit decisions. For our empirical analysis, we compile an extensive dataset containing information...
Persistent link: https://www.econbiz.de/10005260323