Reference prices have long been studied in applied economics and business research. One of the classic formulations of the reference price is in terms of an iterative function of past prices. There are a number of limitations of such a formulation, however. Such limitations include burdensome...

Although the corporate credit risk literature includes many studies modelling the change in the credit risk of corporate bonds over time, there has been far less analysis of the credit risk for portfolios of consumer loans. However, behavioural scores, which are calculated on a monthly basis by...

This study goes beyond attitudes and behavioral indications as response to risk perceptions and focuses on actual behavior of laypeople. We report the results from a survey, conducted among a sample of Swedish citizens in the spring of 2009, looking at lay actions as responses to the financial...

Especially for discrete data, standard first order P-values can suffer from poor accuracy, even for quite large sample sizes. Moreover, different test statistics can give practically different results. There are several approaches to computing P-values which do not suffer these defects, such as...