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An Application of Global Games to Signalling Models
Wichardt, Philipp C. - 2006
In a first attempt to apply the global games methodology to signalling games, Ewerhart and Wichardt (2004) analyse a beer-quiche type signalling game with additional imperfect information about the preferences of the receiver. Their approach allows them to dismiss the unreasonable pooling on...
Persistent link: https://www.econbiz.de/10014067454
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Internal coalition and stock price crash risk
Xu, Lin; Rao, Yulei; Cheng, Yingmei; Wang, Jianxin - In: The journal of corporate finance : contracting, … 64 (2020), pp. 1-22
Persistent link: https://www.econbiz.de/10012295788
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The competitive stock market as cartel maker : some examples
Rubinstein, Ariel; Yaari, Menahem E. - 1983
Persistent link: https://www.econbiz.de/10002720167
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Equity Prices and Cartel Activity
Richards, Dan - 2017
We use a new data set to examine the equity price impact of announced cartel investigations. Unlike prior research, we … estimate normal returns using the Fama-French (1993) three-factor model. We find that cartel investigation announcements have a … loss is notably less than the estimated present value of profits lost due to cartel termination, implying that cartel …
Persistent link: https://www.econbiz.de/10012970852
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Government Investment and the Stock Market
Belo, Frederico - 2012
and risk premiums. To explain the empirical findings, we extend the neoclassical q-theory model of investment and specify …
Persistent link: https://www.econbiz.de/10013116636
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Absolute abundance and relative scarcity : announced policy, resource extraction, and carbon emissions
Di Maria, Corrado; Smulders, Sjak; Van der Werf, Edwin - 2008
We study the effectiveness of climate change policy in a model with multiple non-renewable resources that differ in their carbon content. We find that, when allowing some time between announcement and implementation of a cap on carbon dioxide emissions, emissions from non-renewable energy...
Persistent link: https://www.econbiz.de/10008799171
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Modeling Damages in Climate Policy Models : Temperature-Based or Carbon-Based?
Mason, Charles F. - 2015
Economists have analyzed potential for damages from climate change from theoretical analyses and with Integrated Assessment Models (IAMs). Analytical models typically write damages as a function of the carbon stock, while IAMs typically view damages as based on temperatures. In this paper, we...
Persistent link: https://www.econbiz.de/10013024489
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Pricing climate change risks : CAPM with rare disasters and stochastic probabilities
Karydas, Christos; Xepapadeas, Anastasios - 2019
these events. Using theory and simulations we study the implications of the imminent threat of climate change on different …
Persistent link: https://www.econbiz.de/10011962146
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The risk of policy tipping and stranded carbon assets
Ploeg, Frederick van der; Rezai, Armon - 2019 - Revised July 2019
If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for exploration capital too. Third, unanticipated changes in present or expected future climate...
Persistent link: https://www.econbiz.de/10012039083
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Climate policy and stranded carbon assets : a financial perspective
Ploeg, Frederick van der; Rezai, Armon - 2018
Persistent link: https://www.econbiz.de/10011896486