Short selling, as compared to purchasing, faces greater risks and other potential impediments. This arbitrage asymmetry …

This paper studies consumption and labor supply in a model where agents have partial insurance and face risk and …

life-cycle model for agricultural producers facing output and output price risk, with investment in an off …-farm, conditionally risk free asset, risky financial assets, savings, consumption, and agricultural production opportunities. This … for agricul-ture. We apply this model to U.S. data for the period 1960-1999. Ongoing work focuses on updating the data set …

life-cycle model for agricultural producers facing output and output price risk, with investment in an off …-farm, conditionally risk free asset, risky financial assets, savings, consumption, and agricultural production opportunities. This … for agricul-ture. We apply this model to U.S. data for the period 1960-1999. Ongoing work focuses on updating the data set …

and limited arbitrage. Our theory predicts that these two elements can generate a systematic price premium. We test the … behavior are consistent with the model. Finally, we quantify the welfare effects of arbitrage using a structural model. In our … setting, we show that full arbitrage is not necessarily welfare-enhancing in the presence of market power, reducing consumer …

If experimental subjects arbitrage against market interest rates when making intertemporal allocations of cash, the … arbitrage directly by forcing all transactions with subjects to be instant electronic bank transfers, thus making arbitrage easy … and salient. We also employ four decision frames to test alternative hypotheses. Our evidence contradicts arbitrage …

Although tax arbitrage is central to the literatures on tax capitalization, implicit taxes, and even capital structure …, there is little empirical evidence of the extent to which firms actually engage in tax arbitrage. This paper provides some … evidence on the topic by focusing on a simple and observable corporate arbitrage strategy in the market for municipal bonds. It …

Although tax arbitrage is central to the literatures on tax capitalization, implicit taxes, and even capital structure …, there is little empirical evidence of the extent to which firms actually engage in tax arbitrage. This paper provides some … evidence on the topic by focusing on a simple and observable corporate arbitrage strategy in the market for municipal bonds. It …