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Counter-cyclical enforcement of corporate law
Aviram, Amitai - In: Yale journal on regulation 25 (2008) 1, pp. 1-33
Persistent link: https://www.econbiz.de/10003943350
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Counter-Cyclical Enforcement of Corporate Law
Aviram, Amitai - 2007
Corporate and securities laws are seen to mitigate corporate fraud by 'manipulating the incentives of agents …': presenting corporate agents with a probability of being caught and punished if they commit fraud. This article suggests that the … same laws also affect corporate fraud in a significant but unappreciated manner, by 'manipulating the perceptions of the …
Persistent link: https://www.econbiz.de/10014052348
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Risk-sharing and entrepreneurship
Kilström, Matilda; Roth, Paula - 2022
In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who become entrepreneurs by limiting the downside...
Persistent link: https://www.econbiz.de/10013161870
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The Oligopoly Lucas Tree : Consumption Risk and Industry-Level Risk Exposure
Dou, Winston - 2020
We analyze the quantitative asset-pricing implications of peers' strategic rivalry by embedding oligopolistic competition within an endowment economy. Rivalry intensity increases endogenously as the discount rate rises or expected growth declines, because peers care less about future...
Persistent link: https://www.econbiz.de/10012833606
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The Optimal Lifetime of Assets under Uncertainty in the Rate of Embodied Technical Change
Bitros, Georgios (George) C. - 2007
This paper investigates the effects of uncertainty emanating from technological improvements on the optimal lifetime of assets. In does so in a dynamic model in which: a) technological change increases continuously the productivity of producers' durables, b) potential competition induces firms...
Persistent link: https://www.econbiz.de/10012730855
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Risky Adoption
Furth, Salim - 2019
Terms of trade volatility has a strong negative effect on growth in developing countries. In this paper, I show that the cross-country variance in productivity growth can be explained by differential rates of technology adoption due to differing terms of trade volatility. Intuitively, high price...
Persistent link: https://www.econbiz.de/10012892386
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Economic Modeling of Climate Risks
Le Guenedal, Théo - 2020
Climate change is a subject that has been largely addressed from both macroeconomic and energetic standpoints. Integration of climate variables and natural capital into the traditional economic framework can appear conflicting with the notion of infinitely growing economies exploiting finite...
Persistent link: https://www.econbiz.de/10012823065
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Internet Appendix for 'The Oligopoly Lucas Tree : Consumption Risk and Industry-Level Risk Exposure'
Dou, Winston - 2020
This is the supplemental material to the paper titled "The Oligopoly Lucas Tree: Consumption Risk and Industry-Level Risk Exposure." It includes additional empirical, theoretical, and quantitative results. It also includes illustration for the numerical algorithm for our model solution
Persistent link: https://www.econbiz.de/10012825870
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When Risks Cannot Be Seen : Regulating Uncertainty in Emerging Technologies
Bonnin Roca, Jaime - 2017
Commercializing an emerging technology that employs an immature production process can be challenging, particularly when there are many different sources of uncertainty. In industries with stringent safety requirement, regulatory interventions that ensure safety while maintaining incentives for...
Persistent link: https://www.econbiz.de/10012968679
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The Risks of Schumpeterian Competition
Andrei, Daniel - 2020
In a game-theoretic model where agents compete for claims to a consumption stream, we characterize how creative destruction affects risk, wealth, and prices. Overinvestment not only imposes excessive disruption risk on existing assets and higher technological uncertainty, it also increases the...
Persistent link: https://www.econbiz.de/10012853429