The BSM Formula can be derived according to various generic approaches, including a simple binary taxonomy (T) regarding use and not of the BSM Equation as a partial differential equation (PDE) as an intermediate step. Namely, (T1) using the PDE and (T2) not using the PDE. While Wurts (2020 BSM,...

Large sporting events have non-trivial externalities, where net social benefits can differ from net private benefits. In this chapter we particularly explore the relationship between large sporting events and public health and safety considerations, surveying the relevant literature. The...

Professional sports teams commonly reevaluate their location decisions based on the prospect of building new, more attractive, stadiums. Even though a large economic literature warns about the modest (and possibly negative) effects on the local economy of hosting a professional sports team, the...

As the COVID-19 pandemic enters its third year and the economy continues to recover, it is clear that today's dynamic, unpredictable risk environment will remain. Due to the influence of other unexpected and changing sources of risks from the external and internal environment, situations arise...

The study empirically examined entrepreneurship orientation, entrepreneurship culture, and performance of small and medium-scale enterprises in the Calabar Metropolis. The major objectiveof the paper was to explore how strategic entrepreneurship practices affect the accomplishmentof SMEs goals...

The ultimate goal of this note is to provide a background for, and describe, the Longstaff-Schwartz LSM (Least-Squares Monte Carlo) algorithm for evaluating derivatives with early (American/Bermudan) exercise.The reason for writing yet another paper on the matter is that this method is often...

In nahezu allen industrialisierten Ländern besteht der Anspruch, der gesamten Bevölkerung oder zumindest den Mitgliedern der Sozialversicherung alle medizinischen Leistungen zugänglich zu machen, die am Markt verfügbar sind. Dabei müssen die Länder nicht nur Kosten für medizinische...

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...

Why don't people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees' portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a quantitative model to assess the importance...

The endowment effect, status quo bias, and loss aversion are robust and well documented results from experimental psychology. They introduce a wedge between the prices at which one is willing to sell or buy a good. The objective of this paper is to address this wedge. We show that the presence...