This study theoretically explores the impact of market segmentation uncertainty on producers' production decisions and their subsequent effects on producers' profits, consumer surplus, and social welfare. This uncertainty creates a mismatch between the producer's supply and consumer demand,...

It is well known that risk factors influence how investment portfolios perform from a lender’s perspective; therefore, a thorough risk assessment of the housing market is vital. The aim of this paper was to analyze the risks from housing apartments in different housing market segments by using...

Market segmentation and exchange risk are two main factors that distinguish international financing and investment decisions from domestic ones. Existing studies of market segmentation have been conducted within a framework in which exchange risk is not explicitly recognized. This paper performs...

We study a multi-location model with financial market segmentation that permits self-fulfilling fluctuations. Such fluctuations are necessarily idiosyncratic, but their volatility varies systematically with an aggregate latent factor. We thus provide a coordination-based microfoundation for...