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This paper analyzes risk aversion in discriminatory share auctions. I generalize the k‐step share auction model of Kastl (2011, 2012) and establish that marginal profits are set‐identified for any given coefficient of constant absolute risk aversion. I also derive necessary conditions for...
Persistent link: https://www.econbiz.de/10014308566
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This paper analyzes risk aversion in discriminatory share auctions. I generalize the k-step share auction model of Kastl (2011, 2012) and establish that marginal profits are set identified for any given coefficient of constant absolute risk aversion. I also derive necessary conditions for...
Persistent link: https://www.econbiz.de/10013244684
economically insignificant for international market pairs. Maize price pairs are less often cointegrated compared to rice prices …
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