Browsing Economics and Business Working Papers Series by Title

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Browsing Economics and Business Working Papers Series by Title

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  • Garoupa, Nuno; Gata, Joao E. (2000)
    In this paper we analyze sanctioning policies in international law. We develop a model of international military conflict where the conflicting countries can be a target of international sanctions. These sanctions ...
  • Apesteguia, Jose; Ballester, Miguel A. (2007)
    Extensive field and experimental evidence in a variety of environments show that behavior depends on a reference point. This paper provides an axiomatic characterization of this dependence. We proceed by imposing gradually ...
  • Paradís, Jaume; Viader, Pelegrí; Bibiloni, Lluís (1998)
    A `next' operator, s, is built on the set R1=(0,1]-{ 1-1/e} defining a partial order that, with the help of the axiom of choice, can be extended to a total order in R1. Besides, the orbits {sn(a)}n are all dense in R1 ...
  • Strauss, Arne; Talluri, Kalyan (2012)
    Models incorporating more realistic models of customer behavior, as customers choosing from an offer set, have recently become popular in assortment optimization and revenue management. The dynamic program for these models ...
  • Charness, Gary (1996)
    While papers such as Akerlof and Yellen (1990) and Rabin (1993) argue that psychological considerations such as fairness and reciprocity are important in individual decision-making, there is little explicit empirical ...
  • Moreno, Manuel (1996)
    This paper presents a two--factor model of the term structure of interest rates. We assume that default free discount bond prices are determined by the time to maturity and two factors, the long--term interest rate and the ...
  • Rodríguez, Gustavo (1997)
    This paper studies sequential auctions of licences to operate in a market where those firms that obtain at least one licence then engage in a symmetric market game. I employ a new refinement of Nash equilibrium, the concept ...
  • Arruñada, Benito (2000)
    This article examines the private mechanisms used to safeguard quality in auditing, with a view to defining rules capable of facilitating the performance of market forces. An outline is given of a general theory of ...
  • Litschig, Stephan; Zamboni, Yves (2011)
    We report results from a randomized policy experiment designed to test whether increased audit risk deters rent extraction in local public procurement and service delivery in Brazil. Our estimates suggest that temporarily ...
  • Peñaranda, Francisco; Sentana, Enrique (2010)
    Two main approaches are commonly used to empirically evaluate linear factor pricing models: regression and SDF methods, with centred and uncentred versions of the latter. We show that unlike standard two-step or iterated ...
  • Ponticelli, Jacopo; Voth, Joachim (2011)
    Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. The results show a clear correlation ...
  • Moreno, Manuel; F. Navas, Javier (2003)
    We study European options on the ratio of the stock price to its average and viceversa. Some of these options are traded in the Australian Stock Exchange since 1992, thus we call them Australian Asian options. For geometric ...
  • Bosch-Domènech, Antoni; Silvestre, Joaquim (2006)
    We experimentally question the assertion of Prospect Theory that people display risk attraction in choices involving high-probability losses. Indeed, our experimental participants tend to avoid fair risks for large (up to ...
  • Cuadras, Xavier (2000)
    The objective of this note is to analyze some implications of the model of commodity money described in Banerjee and Maskin (1996) which may seem paradoxical. In order to do this, we incorporate a general production ...
  • Jiménez-Martín, Sergi; Labeaga, José M.; Vilaplana Prieto, Cristina (2006)
    There is a controversial debate about the effects of permanent disability benefits on labor market behavior. In this paper we estimate equations for deserving and receiving disability benefits to evaluate the award error ...
  • Linder, Tamás; Lugosi, Gábor (2000)
    We consider adaptive sequential lossy coding of bounded individual sequences when the performance is measured by the sequentially accumulated mean squared distortion. The encoder and the decoder are connected via a ...
  • Canova, Fabio; Sala, Luca (2005)
    We investigate identifiability issues in DSGE models and their consequences for parameter estimation and model evaluation when the objective function measures the distance between estimated and model impulse responses. We ...
  • Asriyan, Vladimir (2015)
    Balance sheet recessions result from concentration of macroeconomic risks on the balance sheets of leveraged agents. In this paper, I argue that information dispersion about the future states of the economy combined with ...
  • Gómez Puig, Marta; García Montalvo, José (1994)
    This paper presents an analysis of the credibility of the EMS currencies that covers the period before and after the increase in the bands of fluctuation. Our credibility indicator is based on the inferred probabilities ...

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