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Reconstructing Climate Policy
Stewart, Richard B.; Wiener, Jonathan B. - American Enterprise Institute
An examination of the current impasse in climate policy and the potential steps nations can take to reduce greenhouse gases.
Persistent link: https://www.econbiz.de/10011273224
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What Has the Kyoto Protocol Wrought?
Hahn, Robert W.; Stavins, Robert - American Enterprise Institute
This volume investigates the potential performance of the Kyoto Protocol's international trading mechanisms in the presence of diverse types of domestic greenhouse policy instruments.
Persistent link: https://www.econbiz.de/10011273238
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Adaptive basket liquidation
Schöneborn, Torsten - In: Finance and stochastics 20 (2016) 2, pp. 455-493
Persistent link: https://www.econbiz.de/10011471455
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Optimal Portfolio Liquidation for CARA Investors
Schied, Alexander; Schöneborn, Torsten - Volkswirtschaftliche Fakultät, … - 2007
We consider the finite-time optimal portfolio liquidation problem for a von Neumann-Morgenstern investor with constant absolute risk aversion (CARA). As underlying market impact model, we use the continuous-time liquidity model of Almgren and Chriss (2000). We show that the expected utility of...
Persistent link: https://www.econbiz.de/10005835745
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Risk aversion and the dynamics of optimal liquidation strategies in illiquid markets
Schied, Alexander; Schoeneborn, Torsten - Volkswirtschaftliche Fakultät, … - 2008
We consider the infinite-horizon optimal portfolio liquidation problem for a von Neumann-Morgenstern investor in the liquidity model of Almgren (2003). Using a stochastic control approach, we characterize the value function and the optimal strategy as classical solutions of nonlinear parabolic...
Persistent link: https://www.econbiz.de/10005623263
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Competition between equity markets: A review of the consolidation versus fragmentation debate
Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, … - 2016
of all investors. Fragmentation of the marketplace can be seen as a direct outcome of this heterogeneity. In this article … fragmentation, the resulting implications for liquidity and price efficiency, and the role for public policy. Beyond the concerns …
Persistent link: https://www.econbiz.de/10012064260
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Financial Markets and Public Information
Storkenmaier, Andreas - 2011
Newswire messages make up a major part of the public information set available to investors. The last decades have seen drastic changes in trading technology and the way that financial markets operate. As trading technology advances, news providers have kept pace and deliver news to market...
Persistent link: https://www.econbiz.de/10009434499
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Financial markets and public information
Storkenmaier, Andreas - 2011
The last decades have seen dramatic changes in trading technology and the way that financial markets operate. As trading technology advances, news providers have kept pace and deliver news to market participants around the world within fractions of a second using electronic systems. Currently,...
Persistent link: https://www.econbiz.de/10009434669
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Trader Competition in Fragmented Markets: Liquidity Supply versus Picking-off Risk
Bernales, Alejandro; Garrido, Nicolás; Sagade, Satchit; … - 2020
By employing a dynamic model with two limit order books, we show that fragmentation is associated with reduced … of fragmentation on liquidity and welfare differs with asset volatility: when volatility is high (low), liquidity and … aggregate welfare in a fragmented market are higher (lower) than in a single market. However, fragmentation always shifts …
Persistent link: https://www.econbiz.de/10012302577
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Competition/fragmentation in equities markets : a literature survey
Gomber, Peter; Sagade, Satchit; Theissen, Erik; Weber, … - 2013
fragmentation, as well as the resulting implications for investors' welfare. We start with the literature that views exchanges as …
Persistent link: https://www.econbiz.de/10010226582