differentiation, informed consumers exert a positive externality on the purchasers of the high quality good as its price decreases … when the share of informed consumers decreases. Considering also that the price of the low quality good increases with the … with pessimistic consumers we can explain demand collapses and insensitivity to price changes due to consumer suspicions …

The classical theory about foreign exchange rate explains its fluctuations as the resulting of a random walk motion. In … this paper, such a theory is put into question by performing Brock, Dechert and Scheinkman's (1987) test on the Austrian …

joint stochastic process for the energy price and TFP and establish that until the second quarter of 1982, energy prices …

price are independent non-identically distributed random variables. In the focus of attention is the expected non …-risky profit of the investor that arises when the jumps of the stock price are bounded while the investor follows the upper hedge …