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performance of individual securities. Risk premia (spreads) increase with the proportion of traders in the market who are averse …
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This paper argues that the consequences of the ‘fragmentation’ of the European patent system are more dramatic than the mere prohibitive costs of maintaining a patent in force in many jurisdictions. First, detailed analysis of judicial systems in several European countries and four case...
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. Furthermore, we establish two quantitative results. Firstly, modest levels of risk aversion are necessary to match observed debt … ; Collateral ; Income risk ; Bankruptcy …
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