In a crowdfunding campaign, customers are often uncertain about how much they like the product launched because the product description often lacks detailed information, in which case the product value for a customer is her expected valuation. When that information is provided, customers'...

Most Quant PMs have observed that while their alpha strategy delivers good returns, performance attribution have an unexpected behavior. It shows that while they are making money on Common Factor bets, they are systematically losing money on stock specific bets. The negative stock specific drift...

We study the effects of financial uncertainty on investment dynamics in the U.S. using a vector autoregression with drifting parameters and stochastic volatilities. We find time-varying negative effects of financial uncertainty shocks on investment. These effects have declined in the post-WWII...

Abstract We study the interrelation among the post-earnings announcement drift (PEAD) and momentum short-term anomalies, and the reversal long-term anomaly. Some theories argue that PEAD and momentum are a consequence of underreaction to new information on the market. One theory in particular,...

Taxing the wealthy is a hot issue among Democratic candidates for president. Sen. Elizabeth Warren (D-MA) is proposing an annual wealth tax on the richest households, while other candidates are proposing higher taxes on incomes, estates, capital gains, and corporations.Calls for tax increases...

What is the purpose of tax deductions? A common view among tax law scholars is that tax deductions are required to properly measure income. I present an alternative theory of tax deductions, relying on standard economic efficiency grounds. I develop a model which highlights the fact that...

In this work, a methodological framework under the form of an algorithmic procedure, including 28 activity stages and 6 decision nodes, has been developed for evaluating environmental impact caused by industrial activities. The main part of this procedure is a modification of the CVM (Contingent...

The preservation/restoration of natural environment is frequently entailing excessive cost (paid by people through taxation) while it is a source of additional income for both, the State and the people, due to tourism. Since the evaluation of this good cannot be in market terms, it is applied...

During the 2016-2017 academic year, 3rd grade Gymnasium students from the Hellenic College of Thessaloniki received experiential training for the subject of Technology. For the needs of the course, students conducted research regarding the economic assessment of industrial pollution. A...

The environment is characterized as a public good. Public goods are goods that provide benefits for society as a whole or part of it, usually regardless of whether the individual people are willing to pay to have these benefits. This proposed project is not viable in profitable terms to private...