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The dynamics of investment under uncertainty
Bloom, Nicholas; Bond, Stephen; Van Reenen, John - 2001
We derive robust predictions on the effects of uncertainty on short run investment dynamics in a broad class of models with (partial) irreversibility. When their environment becomes more uncertain firms become more cautious and less responsive to demand shocks. This result contrasts with the...
Persistent link: https://www.econbiz.de/10010293014
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Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach
Baye, Michael R.; Kovenock, Dan; de Vries, Casper G. - 2000
A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown to the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....
Persistent link: https://www.econbiz.de/10010324483
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Environmental policy under ambiguity
Vinokur, Leon - 2009
The aim of this paper is to extend existing literature on carbon allowance allocation, investigating the impact of uncertainty and ambiguity, due to the lack of future Environmental policy, on the total production in the market. Specifically, we show that an increase in uncertainty has no effect...
Persistent link: https://www.econbiz.de/10010280749
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Health information and health outcomes: An application of the regression discontinuity design to the 1995 UK contraceptive pill scare case
Del Bono, Emilia; Francesconi, Marco; Best, Nicky G. - 2011
This paper provides a general formulation of the regression discontinuity (RD) design and applies this method to analyse the effects of the 1995 UK pill scare. We show that in the five months following a health warning on the third generation pill, conception rates rose by more than 7%, abortion...
Persistent link: https://www.econbiz.de/10010288970
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Health information and health outcomes : an application of the regression discontinuity design to the 1995 UK contraceptive pill scare case
Del Bono, Emilia; Francesconi, Marco; Best, Nicky G. - 2011
This paper provides a general formulation of the regression discontinuity (RD) design and applies this method to analyse the effects of the 1995 UK pill scare. We show that in the five months following a health warning on the "third generation" pill, conception rates rose by more than 7%,...
Persistent link: https://www.econbiz.de/10009159234
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'Being in the Market' : The UK House-Price Bubble and the Intended Structure of Individual Pension Investment Portfolios
Clark, Gordon L. - 2009
It is widely observed that being in the market gives financial traders access to knowledge and information not …
Persistent link: https://www.econbiz.de/10013159287
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Stock Market Trading in Space and Time : Information and HSBC Share Prices in New York, London and Hong Kong, 2006-2009
Wojcik, Dariusz - 2010
This paper investigates the circulation of information on secondary stock markets, using the case study of HSBC shares … distribution of private information about HSBC. London, the seat of HSBC headquarters, home to most of its decision makers and key …. New York, unable to rival London or Hong Kong's access to private information about HSBC, is last. Its role in price …
Persistent link: https://www.econbiz.de/10013145095
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Credit Spreads : An Empirical Analysis on the Informational Content of Stocks, Bonds, and CDS
Forte, Santiago - 2012
This paper explores the dynamic relationship between stock market implied credit spreads, CDS spreads, and bond spreads. A general VECM representation is proposed for changes in the three credit spread measures which accounts for zero, one, or two independent cointegration equations, depending...
Persistent link: https://www.econbiz.de/10012755686
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The Theory of Incentives Applied to the Transport Sector
Iossa, Elisabetta - 2009
Building upon Iossa and Martimort (2008), we study the main incentive issues and the form of optimal contracts for Public Private Partnerships (PPPs) in transports. We present a basic model of procurement in a multitask environment in which a risk-averse firm chooses unobservable efforts in...
Persistent link: https://www.econbiz.de/10012719017
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Comparative Analysis of Litigation Systems : An Auction-Theoretic Approach
Baye, Michael R.; Kovenock, Dan; de Vries, Casper G. - 2021
A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown by the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....
Persistent link: https://www.econbiz.de/10013321209