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This paper examines the incentives from stock options for loss-averse employees subject to probability weighting. Employing the certainty equivalence principle, I built on insights from Cumulative Prospect Theory (CPT) to derive a continuous time model to value options from the perspective of a...
Persistent link: https://www.econbiz.de/10010891144
This paper proposes a new empirical methodology for computing a cross-market volatility index – coined CMIX – based on the Factor DCC-model, implemented on volatility surprises. This approach solves both problems of treating high-dimensional data and estimating time-varying conditional...
Persistent link: https://www.econbiz.de/10010891145
This article builds on the idea that consumers use (possibly unconscious) expected relationships between product attributes when they have to draw inferences about uncertain product characteristics. These individuals' expectancies regarding the way product attributes are related are conceived of...
Persistent link: https://www.econbiz.de/10010960508
Whereas health equity issues are undoubtedly more relevant in developing countries, research on health inequalities and, more specifically, on inequality of opportunity in the health dimension, remains scarce in this context. This paper explores the degree of inequality of opportunity in health...
Persistent link: https://www.econbiz.de/10010960509
Persistent link: https://www.econbiz.de/10010960510
Persistent link: https://www.econbiz.de/10010960511
Since its introduction in the early 90's, the idea of using importance sampling (IS) with Markov chain Monte Carlo (MCMC) has found many applications. This paper examines problems associated with its application to repeated evaluation of related posterior distributions with a particular focus on...
Persistent link: https://www.econbiz.de/10010960512
Hanging up our coat, tidying our desk, classifying our books, what meanings do these mundane practices convey? Extending Mary Douglas’s work, this article investigates tidiness from the angle of symbolic pollution. Based on photo-elicitation, it shows that, similarly to symbolic pollution...
Persistent link: https://www.econbiz.de/10010960513
Persistent link: https://www.econbiz.de/10010960514
In this chapter, we use the story of the student hazing in French universities as an unethical behavior to illustrate how materialities are used to construct and destruct the corporate reputation. The study focuses on multiple stakeholders’ perceptions and practices over time. Using data...
Persistent link: https://www.econbiz.de/10010960515