environmental economics literature. These are the two interesting papers in the increasing body of literature on environ- mental … part of the economics lexicon since Pigou (1918) addressed them in the 1920s. The externality problem arises when one party … reduction is imposed. Indeed, in the empirical literature of environmental economics, a frequently recurring critique is that …

identified as informed. This method is applied to each putoption contract on 14 companies in various business sectors traded in … this drop in the underlying stock is large enough that its cause is reported in the financial press such as the business …

informa- tion such as qualitative information about market conditions, trend information that may afiect the business …, industry speciflc information, quantitative infor- mation on business measures and assumptions, or forecasts of factors that …

Emile Bernheim (ULB). † Swiss Finance Institute and Imperial College, Tanaka Business School, London SW7 2AZ, UK. Tel … Business, Department of Finance, College Park, MD 20742-1815, Tel: +13014050572. E-mail: wermers@umd.edu ABSTRACT This paper …

Vogt, 102 CH - 1211 Gen`eve 4, Suisse olivier.scaillet@hec.unige.ch Nikolas Topaloglou DIEES Athens University of Economics … and Business 76, Patission Str., Athens 104 34 Greece nikolas@aueb.gr This version: April 2008 (first version : July 2005 …05, 91B06, 91B30. 1 Introduction Stochastic dominance is a central theme in a wide variety of applications in economics …

European Economics Association meeting 2007 in Budapest. All remaining errors are of course mine. yThis research has been … context of economics see Hansen and Sargent (2007, 2005). 14 Theorem 1 (Spectral Factorization, (Hannan 1970)). Given a …- rameter values familiar from the business cycle literature. Utility is specifled as u(c;l) = logc+ˆlog(1¡l) (consistent with …

. aSwiss Finance Institute and University of Lausanne, Faculty of Business and Economics, CH 1015 Lausanne, Switzerland. E …