Search Results - subject:"Theory"

Optimal consumption and portfolio choice with no-borrowing constraint in the Kim-Omberg model

Ferrari, Giorgio; Schütz, Tim Niclas - 2026

In this paper, we study an intertemporal utility maximization problem in which an investor chooses consumption and portfolio strategies in the presence of a stochastic factor and a no-borrowing constraint. In the spirit of the Kim-Omberg model, the stochastic factor represents the excess return...

Persistent link: https://www.econbiz.de/10015609775

The value of money : a survey of heterodox approaches

Wray, L. Randall - 2024

's value to relative scarcity of money or to the price level are rejected as inconsistent with the monetary theory of … contributions by David Graeber and Duncan Foley that reinterpret Marx's labor theory of value, (2) the interpretation of Keynes …'s liquidity preference theory as a theory of asset pricing that began with Sraffa and was further developed by Minsky and Kregel …

Persistent link: https://www.econbiz.de/10015135051

Fixed-price or performance-based? : contract design with renegotiation for IT outsourcing

Hu, Minhui - In: Journal of management science and engineering 11 (2026) 1, pp. 131-148

Renegotiation after software development is widely adopted by firms to mitigate uncertainties in IT outsourcing. This study examines the design and choice of fixed-price versus performance-based contracts in scenarios where firms may renegotiate software debugging time with the IT vendor after...

Persistent link: https://www.econbiz.de/10015637548