factor linked to productivity, which can be used to price a wide variety of assets, without regard to preferences …

This paper analyzes the importance of household perceptions of house price risk in explaining homeownership choice … rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial … buy are especially sensitive to their perception of house price risk, it might explain their delayed entry into home …

The well-known option pricing formula of Black and Scholes depends upon the assumption that price fluctuations are log … be more nearly the case in most markets, price fluctuations are in fact symmetrics table or log-symmetric stable. This … generating log-normal price uncertainty. It is then used to derive the value of a short-lived option for certain processes that …

informational efficiency of the price system. We show that, when agents have private information about monetary shocks, the cost can …

whose costs decline with cumulative output. Because the price of the firm's output evolves stochastically, future production … maximizes the firm's market value: produce when price exceeds a critical level, which is a declining function of cumulative … volatility of price and other parameters. Over the relevant range of prices, uncertainty reduces the shadow value of cumulative …

In this paper I provide a production theory-based framework for measuring markups of price over marginal coat, and the … effects of cost and demand characteristics on these markups. Price to marginal coat ratios are measured for various Canadian … the markup ratios. The measured price margins are within a reasonable range and tend to be countercyclical. Moreover …