This paper examines the empirical performance of several complete and incomplete market models of stock price dynamics using S&P 500 options and stock market data. The main contribution of this work is that it suggests and implements an empirical approach to estimating a complete model with...

This paper studies gender discrimination against entrepreneurs by financial institutions. Based on the cross-country Business Environment and Enterprise Performance Survey (BEEPS) our analysis suggests that, compared to male-managed counterparts, female-managed firms are less likely to obtain a...

This article studies the visibility of Ukrainian economists. It shows that the number of Ukrainians trained at Western universities is increasing fast and that these economists now start publishing in international journals. At the same time, Ukrainian economists residing and educated in Ukraine...

In this paper we extend the work of Simar (2007) introducing noise in nonparametric frontier models. We develop an approach that synthesizes the best features of the two main methods in the estimation of production efficiency. Specifically, our approach first allows for statistical noise,...

Leading papers in a journal’s issue attract, on average, more citations than those that follow. It is, however, difficult to assess whether they are of better quality (as is often suggested), or whether this happens just because they appear first in an issue. We make use of a natural...

This paper studies correlation in discounted infinitely repeated games with public monitoring. Two extensions of the perfect public equilibrium are proposed: the public correlated equilibrium, where a correlation device sends private correlated messages to the players at the beginning of each...

We use panel data on advertising expenditures to check the influence of tobacco advertising bans on the advertising industry. We find no clear evidence of a negative effect of tobacco bans on total per capita advertising expenditures.

We consider a bargaining problem where one of the players, the intellectual property rights owner (IPRO) can allocate licenses for the use of this property among the interested parties (agents). The agents negotiate with him the allocation of licenses and the payments of the licensees to the...