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Herd on the Street : Informational Inefficiencies in a Market with Short-Term Speculation

Froot, Kenneth A. - 1990

informed traders also know. There can be multiple herding equilibria, and herding speculators may even choose to study …

Persistent link: https://www.econbiz.de/10012475787

The Architecture of Economic Systems : Hierarchies and Polyarchies

Sah, Raaj Kumar - 1984

posit that decision makers make errors of judgement (for example, they sometimes select bad projects while rejecting good …

Persistent link: https://www.econbiz.de/10012477760

International Trade and Domestic Regulation

Staiger, Robert W. - 2009

Existing formal models of the relationship between trade policy and regulatory policy suggest the potential for a regulatory race to the bottom. WTO rules and disputes, however, center on complaints about excessively stringent regulations. This paper bridges the gap between the existing formal...

Persistent link: https://www.econbiz.de/10012463108

Ethical Foundations of Financial Regulation

Kane, Edward J. - 1997

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … and efficiency across society as a whole. Agency-cost theory recognizes that incentive conflicts and coordination problems … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of …

Persistent link: https://www.econbiz.de/10012472798

Property Rights, Regulatory Capture, and Exploitation of Natural Resources

Costello, Christopher - 2015

We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...

Persistent link: https://www.econbiz.de/10012457807

Determinants of Vertical Integration : Finance, Contracts, and Regulation

Acemoglu, Daron; Johnson, Simon; Mitton, Todd - 2005

differences in financial development, contracting costs or regulation. We find cross-country correlations between vertical …

Persistent link: https://www.econbiz.de/10012467255

Transparency and International Investor Behavior

Gelos, R. Gaston - 2002

transparent countries. On the other hand, herding among funds tends to be more prevalent in less transparent countries. There is …

Persistent link: https://www.econbiz.de/10012469449

The Great Recession : A Self-Fulfilling Global Panic

Bacchetta, Philippe - 2013

While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account...

Persistent link: https://www.econbiz.de/10012459599

When Everyone Runs for the Exit

Pedersen, Lasse Heje - 2009

The dangers of shouting "fire" in a crowded theater are well understood, but the dangers of rushing to the exit in the financial markets are more complex. Yet, the two events share several features, and I analyze why people crowd into theaters and trades, why they run, what determines the risk,...

Persistent link: https://www.econbiz.de/10012463353

Learning in Financial Markets

Pastor, Lubos - 2009

We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena...

Persistent link: https://www.econbiz.de/10012464003

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