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Can Multiyear Rollover Hedging Increase Mean Returns?
Yoon, Byung-Sam; Brorsen, B. Wade - 2005
Both market advisors and researchers have often suggested multiyear rollover hedging as a way to increase producer returns. This study determines whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a...
Persistent link: https://www.econbiz.de/10009445662
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Market efficiency and the Euro: the case of the Athens Stock Exchange
Panagiotidis, T - 2003
The efficient market hypothesis (EMH) is tested in the case of the AthensStock Exchange (ASE) after the introduction of the euro. The underlyingassumption is that stock prices would be more transparent; their performanceeasier to compare; the exchange rate risk eliminated and as a result we...
Persistent link: https://www.econbiz.de/10009465449
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Levels, Differences and ECMs – Principles for Improved Econometric Forecasting
Allen, P. Geoffrey; Fildes, Robert - 2004
questioned the value of unit root and cointegration tests, arguing that restrictions based on theory are at least as effective as …
Persistent link: https://www.econbiz.de/10009467768
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Distributing the Benefits from the Commons
Silvestre, Joaquim - 1993
"The common-property literature has often focused on the question of efficiency. Here we consider distributional issues instead. How should the benefits of the commons (say, a fishery) be distributed? We approach the question from the viewpoint of ownership rather than income redistribution. "A...
Persistent link: https://www.econbiz.de/10009468330
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Foundations for Cooperation in Social Dilemmas
Ahn, Toh-Kyeong - 2001
"Institutional approaches to social dilemmas have so far focused on how to create incentive structures that channel individuals' behavior into socially desirable outcomes assuming that everyone is selfish. However, the presumption of universal selfishness is not only empirically invalid but may...
Persistent link: https://www.econbiz.de/10009468335
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Appropriation Externalities in the Commons: Theory and Experimental Evidence
Herr, Andrew - 1996
of the commons.' This dissertation combines the tools of game theory and experimental methods to gain a broader …
Persistent link: https://www.econbiz.de/10009468337
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Essays on Individual Behavior in Social Dilemma Environments: An Experimental Analysis
Dudley, Dean - 1993
"In this study, individual level behavior is investigated in the context of computer assisted voluntary contribution mechanism public good (VCM) provision experiments and common pool resource (CPR) appropriation experiments. Previous studies of these environments have concentrated on aggregate...
Persistent link: https://www.econbiz.de/10009468340
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Salience and Its Implications for Common-Pool Resource Management in Scotland: A Tragedy of a Different Kind?
Brown, Katrina Myrvang; Slee, Bill - 2002
"In past contributions to CPR theory, the issue of salience/dependence on a resource has been flagged up as a one of a … high. However, cases do exist of CPRs in which this assumption does not hold, and consequently, related theory proves to be … into question the possibility and utility of constructing a coherent CPR meta-theory." …
Persistent link: https://www.econbiz.de/10009468341
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Institutional Equilibrium and Equilibrium Institutions
Shepsle, Kenneth A. - 1983
"This theme paper focuses on political institutions and their effects on social choice. Institutions are argued to play a mediating rolebetween the preferences of individuals and social choices. In addition to playing an endogenous role in molding and channeling preferences, institutions...
Persistent link: https://www.econbiz.de/10009468358
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Chaos on the Commons: Considering the Implications of Nonequilibrium Theory for Common Property Research
Morgan, Betty - 1995
"The rapidly emerging 'new science' of nonequilibrium systems theory may offer common property researchers and scholars …. Deriving from the dynamical holism of quantum physics, nonequilibrium theory engages the spontaneity, chaos, interrelatedness … paper explores the aspects of nonequilibrium theory which may be instructive in an expanded vision of common property …
Persistent link: https://www.econbiz.de/10009468365