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We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...
Persistent link: https://www.econbiz.de/10009635915
This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...
Persistent link: https://www.econbiz.de/10009636533
Persistent link: https://www.econbiz.de/10009637790
committees benefits from voting insincerely accrue not only when a decision maker's vote is pivotal. As the number of voters … increases, the cost of voting insincerely declines in an open committee because the probability of being pivotal declines. This … is not the case in a closed committee where costs and benefits of insincere voting only arise when a voter is pivotal. …
Persistent link: https://www.econbiz.de/10009635893
elections. Independent candidates perform better in systems with plurality rule or preferential voting compared to party-list PR …
Persistent link: https://www.econbiz.de/10011902493
Polish politicians are increasingly often referring to the prospect of next yearu0092s elections to the European … entail any obvious political consequences. As a result, the significance of these elections to Western European politicians … voting, concurrent national parliamentary elections, perceived weakness of domestic institutions and overall support for the …
Persistent link: https://www.econbiz.de/10009636931
Some financial products facilitate (“Financial Instruments”’) the use of voting rights that can be considered … questionable under the law (“Questionable Uses of Voting Rights”). These Questionable Uses of Voting Rights become apparent when …, using the Financial Instruments, an investor is in a negative voting situation. This situation occurs when an investor …
Persistent link: https://www.econbiz.de/10010487780
Persistent link: https://www.econbiz.de/10011624777
Following each election in the European Parliament, the European Commission issues a report examining how EU citizens' rights were enforced and how the relevant EU rules were implemented by the Member States and assessing EU citizens' participation and the overall conduct of the elections. The...
Persistent link: https://www.econbiz.de/10011624812