Motivated by our earlier study of convex extensions [25], we define a polyhedral basis over a convex set. We explore properties of polyhedral functions that lead us into studying their relations to convexification and disjunctive programming. In particular, we show that a polyhedral basis is...

Using a national survey data where the event of individual households being refused loans (credit rationed) by financial institutions – as well as the specific loans for which they were turned down – is observed directly, this study investigates both the role of relationships on credit...

Although brokers’ trading is endemic in securities markets, the form of this trading differs between markets. Whereas in some securities markets, brokers may trade with their customers in the same transaction (simultaneous dual trading or SDT), in other markets, brokers are only allowed to...

We compare trading costs in the U.S. Treasury bond market with U.S. corporate and municipal bond markets, based on newly available transaction data. We estimate that the mean bid-ask spread per $100 par value is 23 cents for municipal bonds, 21 cents for corporate bonds and 8 cents for Treasury...

This paper uses experimental econoic methods to present evidence that the absence of a negative effect on demand in reaction to products containing GMO's is in large measure due to the fact that customers do not notice the labelling.

In this paper we study the differences in European public opinion and consumer behavior with regard to the use of genetically modified organisms in the food supply. We report the results of an economic experiment in which we elicited willingness-to-pay information for products that contained...

Using proprietary audit trail transactions compiled by the Commodity Futures Trading Commission, we investigate, at the individual trader level, (1) the timing and (2) the determinants of dual traders’ personal trades. Our analysis reveals a surprising absence of any trade timing by dual...

In this paper we replicate and extend the experiment of Fehr and Gaechter (2000) that analyzes the effect of an opportunity to punish others on the level contributions in the Voluntary Contributions Mechanism.

We examine the effect of decimalization on institutional investors using proprietary data. In particular, we examine the time and the number of trades it takes to execute a given trading decision, as well as the price impact of these trades. We use three different benchmarks to determine the...

Server Farms constitute the heart of any e-commerce site. This paper evaluates the performance of server farm systems for handling real-time transactions. The paper uses a simulated environment to implement server farms and tests the performance for various design policies and parameters. These...