This paper offers a resolution to an extensively studied question in theoretical economics: which measure spaces are suitable for modeling many economic agents? We propose the condition of “nowhere equivalence” to characterize those measure spaces that can be effectively used to model the...

This paper aims to solve two fundamental problems on finite or infinite horizon dynamic games with complete information. Under some mild conditions, we prove the existence of subgame-perfect equilibria and the upper hemicontinuity of equilibrium payoffs in general dynamic games with simultaneous...

This paper compares the changes in implied volatilities of options on Nasdaq 100 and Russell 2000 value and growth portfolios. Following Stein (1989) and Heynen, Kemna, and Vorst's (1994), we assume mean reversion, GARCH and EGARCH models for volatility. The empirical evidence using put options...

Integrating the family embeddedness perspective with research on commensality and family meals, we develop a framework that explains why some families are more likely to fuel entrepreneurship than others. Inspired by the diversity literature and the role of the Chinese Confucian culture in...

In this paper a Methodology for Integrated Socio-Economic Assessment (MISEA) of the viability and sustainability of different designs of Multi-Use Offshore Platforms (MUOPs) is presented. MUOPs are designed for multi-use of ocean space for energy extraction (wind power production and wave...

The existence of stationary Markov perfect equilibria in stochastic games is shown in several contexts under a general condition called "coarser transition kernels". These results include various earlier existence results on correlated equilibria, noisy stochastic games, stochastic games with...

This paper aims to solve two fundamental problems on finite or infinite horizon dynamic games with perfect or almost perfect information. Under some mild conditions, we prove (1) the existence of subgame-perfect equilibria in general dynamic games with almost perfect information, and (2) the...

In this paper, we examine factors influencing the choice between tracking stocks and minority carve-outs and their performances. We expand the research in this field by incorporating a fa ctor that was largely ignored in extant literature: managerial entrenchment. We find that the following...