This paper presents an experiment investigating what cultural and institutional factors underlying a society might render its members more or less tolerant of inequality in favor of greater efficiency. The specific institutional factors we address concern the fairness in the procedures or...

This paper concerns barrier options of American type where the underlying asset price is monitored for barrier hits during a part of the option’s lifetime. Analytic valuation formulas of the American partial barrier options are provided as the finite sum of bivariate normal distribution...