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Should the government sell you goods? Evidence from the milk market in Mexico

Jiménez Hernández, Diego; Seira, Enrique - 2023

private suppliers have market power. We do this by studying the staggered rollout of hundreds of government milk "ration … supplied milk by 2.4% and increased household consumption. To compare direct provision with budget-neutral alternatives, we … larger consumer surplus than milk vouchers and unrestricted cash transfers. …

Persistent link: https://www.econbiz.de/10014480356

Die Validität eines Ansatzes zur Separierung der Allokations- und Informationsfunktion des Preises

Sattler, Henrik; Rao, Vithala R. - Universität <Jena> / Wirtschaftswissenschaftliche Fakultät - 1997

Consumers use price of a product both as a signal of product quality and as a monetary constraint in choosing it. Consequently, price has two distinct roles - informational and allocative - in the evaluation of a product. In this paper, we test the validity of a research approach proposed by...

Persistent link: https://www.econbiz.de/10005867844

Preisschwellen und Deckungsbeitrag - Verschenkt der Handel große Potentiale?

Gedenk, Karen; Sattler, Henrik - Universität <Jena> / Wirtschaftswissenschaftliche Fakultät - 1997

Retailers have been criticized for heavily relying on odd prices although their advantage over even prices has not been convincingly proven. In this paper we argue that such behavior does not have to stem solely from tradition, but may be seen as a rational way of dealing with uncertainty. We...

Persistent link: https://www.econbiz.de/10005867847

Multiple Trees Subject to Event Risk

Porchia, Paolo; Trojani, Fabio - National Centre of Competence in ResearchFinancial … - 2009

We study an equilibrium asset pricing model with several Lucas (1978) trees subject toevent risk, that is, the …

Persistent link: https://www.econbiz.de/10005868703

Hazard Processes and Martingale Hazard Processes

Coculescu, Delia; Nikeghbali, Ashkan - National Centre of Competence in ResearchFinancial … - 2009

In this paper, we build a bridge between different reduced-form approaches to pricing defaultable claims. In particular … of Collin Dufresne et al. [8], wepropose a simple pricing formula under an equivalent change of measure.Two processes …

Persistent link: https://www.econbiz.de/10005868712

Aircraft Noise Derivatives

Dalbert, Curdin; Vanini, Paolo - Swiss National Centre of Competence in Research North … - 2009

Changing noise levels have a severe impact on house prices and through the leveragein nancing on households wealth. This risk is essential for houses close to airportswith uncertain aircraft regimes. We design and calibrate real options based on aircraftnoise to hedge against noise risk. The...

Persistent link: https://www.econbiz.de/10005868724

Loan Pricing: Thinking Collateral

Akgün, Aydin; Vanini, Paolo - National Centre of Competence in ResearchFinancial … - 2009

We introduce a framework for analyzing the interplay between credit risk and collateralmarket risk on loan pricing. To …. The framework allows usto develop semi-analytical pricing formulae for loans where the borrower's creditworthinessand …

Persistent link: https://www.econbiz.de/10005868725

Approximate Derivative Pricing for Large Class ofHomogeneous Assets

Gagliardini, Patrick; Gourieroux, Christian - Swiss National Centre of Competence in Research North … - 2008

prediction and pricing formulas for the future factorvalues and their proxies, when the size n of the class is large. Up to order …

Persistent link: https://www.econbiz.de/10005868923

Multivariate Pricing of Capital Structure Derivativeswith Stochastic Smiles and Skews

Trojani, Fabio; Wunsch, Johannes - Finrisk - 2008

We develop a convenient structural framework for the joint model-ing of credit spreads, stock prices, stock options and basket creditderivatives, using a multivariate structural ¯rm value model withskewed asset returns. We show that our setting successfully addressesseveral empirical facts,...

Persistent link: https://www.econbiz.de/10005868925

International Price and Earnings Momentum

Leippold, Markus; Lohre, Harald - National Centre of Competence in ResearchFinancial … - 2008

We find that price and earnings momentum are pervasive features of international equitymarkets when controlling for data snooping biases. For European countries, we find that pricemomentum is subsumed by earnings momentum on an aggregate level. However, this rationaledoes not apply to each and...

Persistent link: https://www.econbiz.de/10005868982