My theme under the heading ‘Leadership as a resource — interpersonal skills’ will focus attention on recognising, developing, constructing and resourcing a major, albeit often unrecognised, and apparently intangible, factor in the success or failure of ‘adaptation’: the skills,...

To value non-transferable non-hedgeable (NTNH) contingent claims and price executive stock options (ESOs), we use a replication argument to translate portfolios with NTNH derivatives into portfolios of primary assets (only) with stochastic portfolio constraints. By identifying stochastic...

Despite extensive research demonstrating relationships between hope and well being, little work addresses whether hope is malleable. We test a single-session, 90-min intervention to increase college students’ hopeful goal-directed thinking (as defined by Snyder et al. in, Pers Soc Psychol...

Voting in an election in which elimination of the local car tax is the central issue shows how a highly visible universal tax cut can prevail in the electoral process even if benefits are skewed toward upper income households. These results are consistent with positive models of fiscal structure...

type="main" xml:lang="en" <title type="main">ABSTRACT</title> <p>This paper investigates the term structure of interest rates in a multiperiod production and exchange economy with incomplete information. Unable to observe their stochastic investment opportunities, investors engage in dynamic Bayesian inference. This results...</p>

We apply the powerful, flexible, and computationally efficient nonparametric Classification and Regression Trees (CART) algorithm to analyze real estate mortgage data. CART is particularly appropriate for our data set because of its strengths in dealing with large data sets, high dimensionality,...

This paper provides corrected calculations of the effective rate of protection for a wide disaggregation of US industries under the two important interwar tariff regimes.