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Prospect theory and hedging risks
Broll, Udo; Egozcue, Martín; Wong, Wing Keung; … - 2010
The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in mathematical challenges: simple extensions and...
Persistent link: https://www.econbiz.de/10003980000
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Prospect theory and two moment model: the firm under price uncertainty
Broll, Udo; Egozcue, Martin; Wong, Wing Keung - 2009
Within the prospect theory the paper examines production and hedging decisions of a competitive firm under price …,sigma)-preference. In contrast to the literature our findings show that the production under uncertainty can be larger than in the certainty …
Persistent link: https://www.econbiz.de/10003841926
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
Persistent link: https://www.econbiz.de/10003969564
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
. cost and wage vs. employment adjustments in response to cost-push shocks depend - in theoretically sensible ways - on the … institutional features of firms and of their environment. Focusing on the passthrough of cost shocks to prices, our results suggest …
Persistent link: https://www.econbiz.de/10003971260
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
Persistent link: https://www.econbiz.de/10003973266
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
Persistent link: https://www.econbiz.de/10003949041
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
. cost and wage vs. employment adjustments in response to cost-push shocks depend – in theoretically sensible ways – on the … institutional features of firms and of their environment. Focusing on the passthrough of cost shocks to prices, our results suggest …
Persistent link: https://www.econbiz.de/10003941209
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
Persistent link: https://www.econbiz.de/10009381146