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, distress, payout policy, profitability, and industry. We consider interpretations of these results based on both time … exploit time-varying characteristic mispricing …
Persistent link: https://www.econbiz.de/10013144163
the elapsed time between the date of pricing and the date of the future payoff (i.e. the future realization of a … consumption claim). Thus formulated, methods from applied mathematics permit me to characterize valuation behavior as the time … familiar from time series analysis that is used to identify shocks with long-run economic consequences …
Persistent link: https://www.econbiz.de/10012770669
Barber and Odean (2000) find that households who trade more have a lower net return than others and attribute this pattern to irrationality, particularly overconfidence. In contrast, we find that household financial choices generated from a dynamic optimization problem with rational agents and...
Persistent link: https://www.econbiz.de/10012869809
customers' value of time and result in biased price estimates and incorrect pricing recommendations. The size and … comprehensiveness of our database allows us to estimate highly refined departure time of day preference curves that account for distance …, direction of travel, number of time zones traversed, departure day of week and itinerary type (outbound, inbound or one …
Persistent link: https://www.econbiz.de/10012981108
costs are revealed over time, a quasi-option value arises. We show that even if expected environmental costs are identical …
Persistent link: https://www.econbiz.de/10013019516
We develop a variation of the macroeconomic model with banking in Gertler and Kiyotaki (2011) that allows for liquidity mismatch and bank runs as in Diamond and Dybvig (1983). As in Gertler and Kiyotaki, because bank net worth fluctuates with aggregate production, the spread between the expected...
Persistent link: https://www.econbiz.de/10013080411
wrong direction, they do not reveal their dead-end findings. Time and resources are wasted on projects that other firms have …
Persistent link: https://www.econbiz.de/10013067107
source of long-term advantage is modeled as a stock of capability that accumulates gradually over time, a firm's proclivity …
Persistent link: https://www.econbiz.de/10013138087
In public sector procurement, social welfare often depends on the time taken to complete the contract. A leading … departments have introduced innovative contracting methods based on scoring auctions that give contractors explicit time …
Persistent link: https://www.econbiz.de/10012757589
Policymaking for posterity involves current decisions with distant consequences. Contrary to conventional prescriptions, we conclude that the greater wealth of future generations may strengthen the case for preserving environmental amenities; lower discount rates should be applied to the far...
Persistent link: https://www.econbiz.de/10012758343