Results 111 to 120 of about 106,023 (221)
Monetary Policy and Wealth Effects: The Role of Risk and Heterogeneity
The Journal of Finance, EarlyView.ABSTRACT We study the role of asset revaluation in the monetary transmission mechanism. We build an analytical heterogeneous‐agents model with two main ingredients: (i) rare disasters and (ii) heterogeneous beliefs. The model captures time‐varying risk premia and precautionary savings in a setting that nests the textbook New Keynesian model.
NICOLAS CARAMP, DEJANIR H. SILVA
wiley +1 more source
Model Ambiguity versus Model Misspecification in Dynamic Portfolio Choice
The Journal of Finance, EarlyView.ABSTRACT We study aversion to model ambiguity and misspecification in dynamic portfolio choice. Risk‐averse investors (relative risk aversion γ>1$\gamma > 1$) fear return persistence, while risk‐tolerant investors (0<γ<1$0<\gamma <1$) fear mean reversion, when confronting model misspecification concerns of identically and independently distributed (IID)
PASCAL J. MAENHOUT +2 more
wiley +1 more source
The Hyperbolic Forest Owner [PDF]
This paper examines the implications of quasi-hyperbolic inter-temporal preferences to the Faustman model. The use of decreasing discount rates leads to dynamically inconsistent behavior.
Costa-Duarte, Clara +2 more
core
Share to Scare: Technology Sharing in the Absence of Intellectual Property Rights
The Journal of Industrial Economics, EarlyView.ABSTRACT Cournot duopolists choose between sharing their technologies, for example, through scientific publications, or keeping them secret. The disadvantage of sharing efficient technologies is that a less efficient competitor imitates and becomes tougher.
Jos Jansen
wiley +1 more source
The Productivity Effect of Public–Private Partnership
The Journal of Industrial Economics, EarlyView.ABSTRACT Public–Private partnerships (PPPs) are often employed by public authorities to deliver infrastructure and public services through contracts bundling construction, operation, and maintenance over extended periods. Using a novel dataset covering the universe of Italian district heating plants (DHs) from 2007 to 2014, I show that PPP improves ...
Vincenzo Mollisi
wiley +1 more source
A formal analysis of inconsistent decisions in intertemporal choice through subjective time perception. [PDF]
Heliyon, 2023 Cruz Rambaud S, Sánchez García J.
europepmc +1 more source
Discounting by intervals: An inconsistent theory of intertemporal choice? [PDF]
We show that the theory developed in Scholten and Read (2006) “Discounting by Intervals: A Generalized Model of Intertemporal Choice”, Management Science, 52, 1424-1436, is an inconsistent theory.
Ali al-Nowaihi, Sanjit Dhami
core
From gateway to value ladder—The curious case of online mutual aid in China
Journal of Risk and Insurance, EarlyView.Abstract This study examines how InsurTech‐enabled information provision, specifically the disclosure of claimant information previously unavailable in conventional insurance, influences individuals' insurance uptake. We leverage Mutual Aid (MA) platforms as a natural context to examine how socially framed loss information, peer influence, and salience
Ze Chen +3 more
wiley +1 more source
Discounting when income is stochastic and climate change policies [PDF]
We introduce stochastic income into the standard exponential discounting model and study dependence of effective discount rates on the type of the underlying stochastic process and agent's current income level. If the income follows a process with i.i.d.
Boyarchenko, Svetlana +1 more
core +1 more source
Journal of Regional Science, EarlyView.ABSTRACT Firms are not necessarily geographically static, in fact, they sometimes move across space within an economy. We define three possible destination types for relocating firms: major cities (urbanization), urbanized districts (suburbanization), and rural districts (counterurbanization).
Benedikt Schröpf, Tim Kovalenko
wiley +1 more source