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Optimal Decentralized Investment Management

Brandt, Michael W. - 2010

We study a decentralized investment problem in which a CIO employs multiple asset managers to implement and execute investment strategies in separate asset classes. The CIO allocates capital to the managers who, in turn, allocate these funds to the assets in their asset class. This two-step...

Persistent link: https://www.econbiz.de/10012761668

Goals and Plans in Protective Decision Making

Krantz, David - 2012

constructed-choice model for general decision making. The model departs from utility theory and prospect theory in its treatment … context on goals, resources, plans and decision rules. The paper concludes by suggesting some prescriptions for improving … individual decision making with respect to protective measures …

Persistent link: https://www.econbiz.de/10012755476

Towards a Theory of Firm Entry and Stabilization Policy

Bergin, Paul R. - 2009

This paper studies the role of stabilization policy in a model where firm entry responds to shocks and uncertainty. We evaluate stabilization policy in the context of a simple analytically solvable sticky price model, where firms have to prepay a fixed cost of entry. The presence of endogenous...

Persistent link: https://www.econbiz.de/10012767456

Firm Heterogeneity and Firm Behavior with Conditional Policies

Demidova, Svetlana A. - 2007

This paper shows that the result of Ju and Krishna (2002, 2005), i.e., the non-monotonicity in the comparative statics across regimes, disappears, if exporters differ in their productivities, which provides very different predictions about the results of policy changes

Persistent link: https://www.econbiz.de/10012777451

Reorganization or Liquidation : Bankruptcy Choice and Firm Dynamics

Corbae, Dean - 2017

In this paper, we ask how bankruptcy law affects the financial decisions of corporations and its implications for firm dynamics. According to current U.S. law, firms have two bankruptcy options: Chapter 7 liquidation and Chapter 11 reorganization. Using Compustat data, we first document capital...

Persistent link: https://www.econbiz.de/10012953996

Prediction, Judgment and Complexity : A Theory of Decision Making and Artificial Intelligence

Agrawal, Ajay - 2018

. In this paper, we explore the consequences of improved prediction in decision-making. To do so, we adapt existing models … of decision-making under uncertainty to account for the process of determining payoffs. We label this process of … on whether the improvements in prediction enable automated decision-making. We discuss the implications of improved …

Persistent link: https://www.econbiz.de/10012929013

Enabling Entrepreneurial Choice

Agrawal, Ajay; Gans, Joshua; Stern, Scott - 2022

Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. While entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the...

Persistent link: https://www.econbiz.de/10013291843

Quantitative Models of Commercial Policy

Ossa, Ralph - 2016

What tariffs would countries impose if they did not have to fear any retaliation? What would occur if there was a complete breakdown of trade policy cooperation? What would be the outcome if countries engaged in fully efficient trade negotiations? And what would happen to trade policy...

Persistent link: https://www.econbiz.de/10012997374

Quantitative Sovereign Default Models and the European Debt Crisis

Bocola, Luigi - 2018

A large literature has developed quantitative versions of the Eaton and Gersovitz (1981) model to analyze default episodes on external debt. In this paper, we study whether the same framework can be applied to the analysis of debt crises in which domestic public debt plays a prominent role. We...

Persistent link: https://www.econbiz.de/10012911701

What You Export Matters

Hausmann, Ricardo; Hwang, Jason; Rodrik, Dani - 2021

When local cost discovery generates knowledge spillovers, specialization patterns become partly indeterminate and the mix of goods that a country produces may have important implications for economic growth. We demonstrate this proposition formally and adduce some empirical support for it. We...

Persistent link: https://www.econbiz.de/10013219717