Considering self-protection, it is a well-known result that an increase in risk aversion does not unambiguously lead to a higher level of effort. In this paper, we consider a particular case of self-protection, the choice of a lawyer, assuming a positive relation between legal expenses and...

This note studies the single-period newsvendor problem when the newsvendor faces a multiplicative neutral independent background risk in an expected utility framework. It is shown that multiplicative risk vulnerability is a sufficient condition to guarantee a decrease in the optimal order. A...

At present, it is widely recognized that under the hypothesis of perfect market, a system of emission permits is a flexible instrument to attain an environmental objective at least aggregate cost. Unfortunately, perfect market assumptions rarely hold in practice. Indeed, emission permits markets...

Family businesses are an important part of the world economy (Anderson and Reeb, 2003) and show significant differences in their corporate governance compared to non-family firms. Although displaying evident unique features, family firms have received relatively little attention as distinct from...

Considering self-protection, it is a well-known result that an increase in risk aversion does not unambiguously lead to a higher level of effort. In this paper, we consider a particular case of self-protection, the choice of a lawyer, assuming a positive relation between legal expenses and...

The weekly release of the U.S. inventory level by the DOE-EIA is known as the market mover in the U.S. oil futures market and to be a significant piece of information for all world oil markets in which the WTI is a price benchmark. We uncover suspicious trading patterns in the WTI futures...