Models of spatial competition are designed and analyzed to describe the fact that space, by its very nature, is a source of market power. This field of research, lying at the interface of game theory and economics, has attracted much interest because location problems are related to many aspects...

This book extends the theory of real options. Where previous contributions mainly consider the timing of investment, this book also determines the optimal capacity size. We develop and analyze several theoretical investment models of the firm. The first three studies consider firms that act in a...

According to traditional welfare economics welfare occurs at the point where a good is purchased and some amount of utility is assumed to derive therefrom. According to Sen and others however one needs to look in addition to what use is made of the good after purchase. This paper throws new...

The thesis consists of four chapters. Chapter 1 reviews recent contributions on habit formation in the literature and investigates its implications for investors. Chapter 2 revisits the “Floor-Leverage” rule for investors with ratchet consumption preference proposed by Scott and Watson...

Behavioral Economics aims at understanding the decision of economic agents who are not necessarily monetary utility maximizers and accounts for the fact that agents may have other concerns next to economic gain. This thesis contributes to the literature by studying the behavior of economic...

This thesis studies portfolio choice and asset pricing with preferences which go beyond the standard expected utility and mean-variance preferences. The first part of this thesis analyses a decision model in which the decision maker forms endogenous beliefs given his anticipation utility and his...

Although the 1997 handover of Hong Kong from the United Kingdom to China was a major political transformation, its impact on new business formation has not been fully scrutinized. Theory suggests contradictory forces may operate before, during, and after such a transformation: either a decline...