Showing 1 - 10 of 83
Chapter IWe use a large-scale internet experiment to explore how subjects learn to play against computers that are … experiment, we separate the demand for punishment in general from a possible demand to conduct punishment personally. Subjects …? In our experiment we observe that the subjects almost never use punishment. Consistently, the data shows no increase in …
Persistent link: https://www.econbiz.de/10009476200
Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...
Persistent link: https://www.econbiz.de/10009471846
The Market in Financial Instruments Directive (MiFID) aims to increasecompetition and to foster client protection in the European financialmarket. Among other provisions, it abolishes the concentration rule andchallenges the market ower of existing trading venues. The directiveintroduces venue...
Persistent link: https://www.econbiz.de/10009435139
identical preferences across countries and consider the possibility of a home bias in consumption. Third, we drop the assumption … different. The distinction between the pricing behaviors of firms then becomes irrelevant. If there is a home bias in … of firms and a home bias in consumption. …
Persistent link: https://www.econbiz.de/10009475325
Firms and investors often operate in environments with market imperfections and agency frictions. It is common wisdom that the effects of these microeconomic frictions are amplifed or mitigated by the quality of economic institutions in a country. Yet little is known about the precise channels...
Persistent link: https://www.econbiz.de/10009477490
existierender Forschungsergebnisse. II. Is there a Home Bias in Sovereign Ratings? Kreditratingagenturen werden oftmals für …
Persistent link: https://www.econbiz.de/10011288105
Evento: V Conferencia Anual del BIS
Persistent link: https://www.econbiz.de/10013267388
indeed there is home bias with respect to European beers and somewhat less so with respect to beers from bordering countries … (Mexico and Canada). Home bias is more accentuated among older males who are more affluent. Furthermore, the own …
Persistent link: https://www.econbiz.de/10009445130
This paper examines the short and long-term comovements among UK regional property markets over the period 1976-2001. The markets examined are London, Outer South-East, East Anglia, South West, East Midlands, West Midlands, Yorkshire and Humberside, North and North West. Multivariate...
Persistent link: https://www.econbiz.de/10009437464
Few studies have examined the impact of portfolio concentration upon the realised volatility of stock index portfolios, such as the FTSE 100. Instead, previous research has focused upon diversification across industries, across geographic regions and across different firms. The present study...
Persistent link: https://www.econbiz.de/10009465927