Search Results - subject:"Transaktionskosten"

Markets, contracts, and hierarchies : how bargaining frictions affect governance

Ellingsen, Tore; Miettinen, Topi - 2026 - First version, April 2025, Revised January 2026

We develop an organizational governance model with a single buyer and endogenous upstream entry. Investments and control rights over assets and actions are immediately contractable; production is contractable after uncertainty resolves. We show the following: Supplier competition eliminates...

Persistent link: https://www.econbiz.de/10015564187

The future is under the glass : digital design protection and appropriation strategy

Amoncio, Egbert; Cuntz, Alexander; Fink, Carsten - 2026

Persistent link: https://www.econbiz.de/10015592333

Multiproduct transactions in international markets

Bond, Eric W.; Heo, Ji Hye; Iyoha, Ebehi; Rodrigue, Joel - 2026

Persistent link: https://www.econbiz.de/10015597224

Information-neutral hedging of derivatives under market impact and manipulation risk

Alimoradian, Behzad; Barigou, Karim; Eyraud, Anne - 2026

The literature on derivative pricing in illiquid markets has mostly focused on computing optimal hedging controls, but empirical microstructure studies show that large order flow generates persistent and predictable price effects. Therefore, these controls can themselves induce endogenous market...

Persistent link: https://www.econbiz.de/10015591116

Dynamic regularized parametric portfolio policies

Os, Bram van; Lönn, Rasmus; Dijk, Dick van - 2026

We put forward a Dynamic Regularized Parametric (DRP) approach for active portfolio policies. We build upon the parametric policy framework of Brandt et al. (2009) that directly links the portfolio weights to a limited set of asset characteristics. This yields a parsimonious specification that...

Persistent link: https://www.econbiz.de/10015580333

Insights from lower-tier ICT suppliers : how network centrality in multi-tier supply chain relationships affects buyer financial performance

Liu, Kara Li; Özpolat, Koray; Shin, Seung Kyoon - 2026

Persistent link: https://www.econbiz.de/10015605923

Pricing rules with market frictions : an axiomatic approach

Cornet, Bernard - 2025

Persistent link: https://www.econbiz.de/10016082766

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Pricing rules with market frictions : an axiomatic approach

Cornet, Bernard - 2026

Book / Working Paper

Trade costs, entry costs, and regional economic growth in China

Qian, Zeyi; Suzuki, Kensuke; Zhang, Junfu - 2026

This paper examines sectoral growth patterns across Chinese provinces during the country's economic takeoff in the early 2000s, following major policy reforms including trade liberalization, infrastructure expansion, business climate improvements, and relaxed rural-to-urban migration...

Persistent link: https://www.econbiz.de/10015625033

Copula Asymmetry Index (CAI++) : measuring asymmetric equity-volatility tail dependence for defensive allocation

Hatzopoulos, Peter; Statiou, Anastasios D. - 2026

This paper introduces the Copula Asymmetry Index (CAI), a rolling, rank-based measure of asymmetric tail dependence between equity returns and implied-volatility proxies. CAI is defined as the difference between the empirical frequency of joint "equity-down & volatility-up" tail events and that...

Persistent link: https://www.econbiz.de/10015640224

Deep reinforcement learning for cryptocurrency portfolio management : a free-energy framework with geometry-based transaction costs and efficiency bounds

Moroke, Ntebogang Dinah - 2026

This paper develops a deep reinforcement learning framework for cryptocurrency portfolio management in which transaction costs are derived from the Riemannian geometry of the underlying volatility model rather than assumed constant. A Proximal Policy Optimisation agent is trained on a reward...

Persistent link: https://www.econbiz.de/10015656154