In credence goods markets, experts have better information about the appropriate quality of treatment than their customers. Experts may exploit their informational advantage by defrauding customers. Market institutions have been shown theoretically to be effective in mitigating fraudulent expert...

A simulation mechanism is designed for crisis propagation accommodating contagion. A new co-evolutionary market model is described, where some of the technical traders change their behaviour during crisis and their decisions become largely influenced by market sentiment rather than based on...

A retailer sells a single product for a single period. During transportation and storage, some of these products are consumed by the retailer either (1) due to unavoidable damages (passive self-consumption), or (2) distributed for free to the customers (proactive self-consumption). This creates...

I propose a regression approach to recovering the return distribution of an individual asset conditional on the return of an aggregate index based on their marginal distributions. This approach relies on the identifying assumption that the conditional return distribution of the asset given the...

The covariation of option-implied disaster concern of a stock and the market index allows me to estimate the conditional and systematic disaster concern of the stock with respect to the market. The estimated variables can be interpreted in terms of the stock's risk-neutral conditional disaster...

We offer an approach for recovering option-implied time-varying forward-looking risk premia of systematic factors---even if they do not possess actively-traded options. We apply this approach to the market, size, value, and momentum factors. We find that factor premia are highly volatile. Both...

Retailers often offer price and quantity promotions to customers during clearance sales. In a price promotion, they offer discounted unit prices. In a quantity promotion, they usually offer a buy-one-get-one free (BOGO) or buy-two-get-one free (BTGO) policy. Under BOGO, customers buying one unit...

In credence goods markets, experts have better information about the appropriate quality of treatment than their customers. Experts may exploit their informational advantage by defrauding customers. Market institutions have been shown theoretically to be effective in mitigating fraudulent expert...