Number 67
... socio-professional category). The individual’s utility function is of multiplicative form with per period consumption and age of retirement as functional arguments. The multiplicative form accounts for a possible risk aversion towards length of life. The authors first transform the individual’s life ...
... socio-professional category). The individual’s utility function is of multiplicative form with per period consumption and age of retirement as functional arguments. The multiplicative form accounts for a possible risk aversion towards length of life. The authors first transform the individual’s life ...
Corporate earnings and the equity premium
... to follow distinct exponential-affine jump-diffusion processes. The ratio of aggregate dividends to consumption, which we designate the ‘‘corporate fraction’’, plays a central role in the model. From the first-order conditions of the representative agent, we obtain an explicit closed-form expression f ...
... to follow distinct exponential-affine jump-diffusion processes. The ratio of aggregate dividends to consumption, which we designate the ‘‘corporate fraction’’, plays a central role in the model. From the first-order conditions of the representative agent, we obtain an explicit closed-form expression f ...
Economic Regulation of Utility Infrastructure
... that goes largely unnoticed until the slightest disruption occurs. In the United States, a very high level of service reliability is presumed; outages and the cascading consequences of interdependency are met with alarm and dismay. Extended disruptions jeopardize public health, safety, and welfare, ...
... that goes largely unnoticed until the slightest disruption occurs. In the United States, a very high level of service reliability is presumed; outages and the cascading consequences of interdependency are met with alarm and dismay. Extended disruptions jeopardize public health, safety, and welfare, ...
A Modern, Behavior-Aware Approach to Asset Allocation and
... behavior in long-term investment results. Despite his foundational research in MPT, even Dr. Markowitz has admitted to forgoing its application within his own personal investments for behavioral reasons. “Instead, I visualized my grief if the stock market went up and I wasn’t in it – or if it went w ...
... behavior in long-term investment results. Despite his foundational research in MPT, even Dr. Markowitz has admitted to forgoing its application within his own personal investments for behavioral reasons. “Instead, I visualized my grief if the stock market went up and I wasn’t in it – or if it went w ...
Risk premia in general equilibrium
... aspects of dynamic properties, and in providing adequate answers to questions such as local existence and stability (Schmitt-Grohé and Uribe 2004). Most approximation schemes will fail, however, when it comes to the effects of uncertainty. This paper contributes to the literature on the determinant ...
... aspects of dynamic properties, and in providing adequate answers to questions such as local existence and stability (Schmitt-Grohé and Uribe 2004). Most approximation schemes will fail, however, when it comes to the effects of uncertainty. This paper contributes to the literature on the determinant ...
chapter 1 and 2 Practice Export.tst
... c. The economy is rarely short of needed goods d. Economic decisions do not cause much suffering. ____ 15. Benefits offered to encourage people to act in certain ways are a. incentives b. motives c. utilities d. wants ____ 16. The benefit or satisfaction gained from the use of a good or service is c ...
... c. The economy is rarely short of needed goods d. Economic decisions do not cause much suffering. ____ 15. Benefits offered to encourage people to act in certain ways are a. incentives b. motives c. utilities d. wants ____ 16. The benefit or satisfaction gained from the use of a good or service is c ...
EFFECT OF BEHAVIOURAL BIASES ON INVESTMENT DECISIONS
... often depend on their nature, intuitions, and habits, cognitive or emotional biases hidden deeply at the back of one‟s mind. The new discipline – behavioural finance have began to develop after gathering enough information that confirm particular human behaviour which is contrary to traditional fina ...
... often depend on their nature, intuitions, and habits, cognitive or emotional biases hidden deeply at the back of one‟s mind. The new discipline – behavioural finance have began to develop after gathering enough information that confirm particular human behaviour which is contrary to traditional fina ...
chapter 32 institutional investors
... obvious question is: Who are these arbitrageurs in real-world financial markets? Other important questions are: Can arbitrageurs easily spot such discrepancies between price and fundamental value in the first place, especially if they are not glaring? Is anyone really well-capitalized enough to cond ...
... obvious question is: Who are these arbitrageurs in real-world financial markets? Other important questions are: Can arbitrageurs easily spot such discrepancies between price and fundamental value in the first place, especially if they are not glaring? Is anyone really well-capitalized enough to cond ...
fundamentals of economics in sustainable construction
... Effective development of any business organization would enable it to provide products and/or services at a lower price. In the process of managing organizations, the managers at different levels should take appropriate economic decisions which will help in minimizing investment, operating and main ...
... Effective development of any business organization would enable it to provide products and/or services at a lower price. In the process of managing organizations, the managers at different levels should take appropriate economic decisions which will help in minimizing investment, operating and main ...
Comments on “When Do TIPS Prices Adjust to
... 2) no capital market frictions (i.e., no transaction cost, asset trade restriction, or bankruptcy cost) 3) firms and investors can borrow or lend at the same rate. ...
... 2) no capital market frictions (i.e., no transaction cost, asset trade restriction, or bankruptcy cost) 3) firms and investors can borrow or lend at the same rate. ...
Electronic Market-Makers: Empirical Comparison
... the sources and components of the bid-ask spread. A number of models have been developed to explain the evolution of the spread [9]. The problem with such approaches is that they are mostly explanatory in nature. The contributions of these models are limited to theoretical understandings of the econ ...
... the sources and components of the bid-ask spread. A number of models have been developed to explain the evolution of the spread [9]. The problem with such approaches is that they are mostly explanatory in nature. The contributions of these models are limited to theoretical understandings of the econ ...
Document
... (7) gush at (Para. 10): express admiration. (8) purr (Para. 10): speak in soft and low voices. (9) Nouriel Roubini (Para. 12): Professor of Economics, New York University, RGE monitor. (10) pan out (Para. 15): move in a particular direction. Expression in using camera. (11) mega-bear (Para. 20): hu ...
... (7) gush at (Para. 10): express admiration. (8) purr (Para. 10): speak in soft and low voices. (9) Nouriel Roubini (Para. 12): Professor of Economics, New York University, RGE monitor. (10) pan out (Para. 15): move in a particular direction. Expression in using camera. (11) mega-bear (Para. 20): hu ...
mmi10 Posch 12046532 en
... In general equilibrium models, the stochastic discount factor is not only determined by the consumption-based first-order condition, but also linked to business cycle characteristics. In macroeconomics, dynamic stochastic general equilibrium models (DSGE) have been very successful in explaining co-m ...
... In general equilibrium models, the stochastic discount factor is not only determined by the consumption-based first-order condition, but also linked to business cycle characteristics. In macroeconomics, dynamic stochastic general equilibrium models (DSGE) have been very successful in explaining co-m ...
Expected Uncertain Utility Theory,
... Our goal is to provide a flexible theory that can address three well-documented deviations from expected utility theory: (i) Ellsberg-style evidence that identifies behavior inconsistent with any single subjective prior over the event space. (ii) Source preference evidence showing that, ceteris pari ...
... Our goal is to provide a flexible theory that can address three well-documented deviations from expected utility theory: (i) Ellsberg-style evidence that identifies behavior inconsistent with any single subjective prior over the event space. (ii) Source preference evidence showing that, ceteris pari ...
Adjunctive Behavior
... continues to diminish. Even when glimpses of the vaguely distinguished players do occur, some other features in the more proximal environment will, at some point, abruptly gain control of the attending behavior and, in turn, of the private visual awareness behaviors occurring to the observer. It may ...
... continues to diminish. Even when glimpses of the vaguely distinguished players do occur, some other features in the more proximal environment will, at some point, abruptly gain control of the attending behavior and, in turn, of the private visual awareness behaviors occurring to the observer. It may ...
Schultz 10e IMTB Chapter 11
... developed the idea of “vicarious reinforcement,” where an individual’s behavior can be influenced by watching others’ behaviors and the consequences they receive. Thus, cognition becomes important because the person sees others receive consequences, imagines their own behaviors in that context, and ...
... developed the idea of “vicarious reinforcement,” where an individual’s behavior can be influenced by watching others’ behaviors and the consequences they receive. Thus, cognition becomes important because the person sees others receive consequences, imagines their own behaviors in that context, and ...
Pelaez, M. - Florida International University
... Retention and Success Rates of Minority Students in Post-Secondary Education.” Florida International University, Foundation Research Project Funding Competition, for summer 1995, 1996, 1997, amount requested $ 8, 625.00. Title: “The Role of Maternal Speech on Infant Language Development.” OSEP, U.S. ...
... Retention and Success Rates of Minority Students in Post-Secondary Education.” Florida International University, Foundation Research Project Funding Competition, for summer 1995, 1996, 1997, amount requested $ 8, 625.00. Title: “The Role of Maternal Speech on Infant Language Development.” OSEP, U.S. ...
NBER WORKING PAPER SERIES DOES STOCK MARKET PERFORMANCE INFLUENCE RETIREMENT INTENTIONS?
... HRS took place between March 2008 and February 2009. While the average respondent from the 2008 wave experienced a loss in the S&P 500 of 25 points (1.7 percent) since their previous interview, depending on the timing of interviews, the change ranged from a loss of 648 points (44.9 percent) to a gai ...
... HRS took place between March 2008 and February 2009. While the average respondent from the 2008 wave experienced a loss in the S&P 500 of 25 points (1.7 percent) since their previous interview, depending on the timing of interviews, the change ranged from a loss of 648 points (44.9 percent) to a gai ...
View/Open
... The first case involved allowing for different lease rates. Johnson argued that there must be some risk-free alternative, thus the farmer should be able to lease his/her land. The second case involved looking at long-run diversification problem. Or in other words, the amount of land ownership can va ...
... The first case involved allowing for different lease rates. Johnson argued that there must be some risk-free alternative, thus the farmer should be able to lease his/her land. The second case involved looking at long-run diversification problem. Or in other words, the amount of land ownership can va ...
PDF
... of the economy, and these limits have already been reached or exceeded. This is all the more so, since most ecological economists add a consideration for the living conditions of species other than humans. As the scale of the economy has to be limited in the interest of future generations and in the ...
... of the economy, and these limits have already been reached or exceeded. This is all the more so, since most ecological economists add a consideration for the living conditions of species other than humans. As the scale of the economy has to be limited in the interest of future generations and in the ...
Where do foreign affiliates of Spanish MNFs locate in
... endowments that justify a vertical expansion of MNEs.12 Therefore, the motives to invest abroad and the nature of MNEs, including whether they are manufacturing or services firms, to a large extent define the set and importance of characteristics of the host countries that make them more attractive ...
... endowments that justify a vertical expansion of MNEs.12 Therefore, the motives to invest abroad and the nature of MNEs, including whether they are manufacturing or services firms, to a large extent define the set and importance of characteristics of the host countries that make them more attractive ...
Bubbles and Crashes with Partially Sophisticated Investors!
... line with the experimental evidence in Haruvy, Lahav and Noussair, 2007). Partially sophisticated investors know the market dynamics averaged along days in which most people want to buy and days in which most people want to sell. As a result, they get a positive surprise after any "good day" and a ...
... line with the experimental evidence in Haruvy, Lahav and Noussair, 2007). Partially sophisticated investors know the market dynamics averaged along days in which most people want to buy and days in which most people want to sell. As a result, they get a positive surprise after any "good day" and a ...
NBER WORKING PAPER SERIES ON THE INCEPTION OF RATIONAL Behzad Diba
... expect to gain utility from selling the stock now and never buying it back. Tirole's argument assumes that, even if stockholders have infinite planning horizons, they would not plan to hold an overvalued asset——that is, one with a positive rational bubbles ...
... expect to gain utility from selling the stock now and never buying it back. Tirole's argument assumes that, even if stockholders have infinite planning horizons, they would not plan to hold an overvalued asset——that is, one with a positive rational bubbles ...
Static and dynamic portfolio allocation with nonstandard utility
... uous utility function considered as ARA(w) = −U 00 (w) /U 0 (w) and RRA (w) = −wU 00 (w) /U 0 (w). These indices have been used to highlight some difficulties associated with the use of those utility functions. It is commonly accepted that is reasonable to expect that general investors can be chara ...
... uous utility function considered as ARA(w) = −U 00 (w) /U 0 (w) and RRA (w) = −wU 00 (w) /U 0 (w). These indices have been used to highlight some difficulties associated with the use of those utility functions. It is commonly accepted that is reasonable to expect that general investors can be chara ...
Verbal Behavior - Carbone Clinic
... 20. Give a range of examples that are intraverbal. 21. Skinner goes on to discuss chains of intraverbals. Is any one link under exclusive control of the previous? What is a “haplological error?” 22. How does Skinner see “word associations?” ...
... 20. Give a range of examples that are intraverbal. 21. Skinner goes on to discuss chains of intraverbals. Is any one link under exclusive control of the previous? What is a “haplological error?” 22. How does Skinner see “word associations?” ...