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explaining exchange rate movements. The asset market theory of exchange rate determination implies that exchange rates are mainly … driven by the development of macroeconomic fundamentals. Furthermore the asset market theory assumes that foreign exchange … speculation, economic theory states that speculation can have either a stabilizing effect or a destabilizing effect on exchange …
Persistent link: https://www.econbiz.de/10009433679
point and exert a strong influence on decision making and preferences. This paper surveys the theory of reference …
Persistent link: https://www.econbiz.de/10009471596
Investigamos la manera en que los equipos influyen en la extrapolación de rentabilidades, un sesgo en la formación de creencias que es generalizado a nivel individual y crucial para los modelos conductuales de valoración de activos. Utilizando una muestra de gestores de fondos de inversión...
Persistent link: https://www.econbiz.de/10014436941
"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
"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
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
"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
"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
"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
"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