It is fairly common in developed economies that a small set of insurers with large capitalization often account for the majority of their insurance markets. While tight regulations of the insurance industry are well-intended to protect the interests of policyholders and ensure market stability,...

This study discusses the stock market reaction to the firm’s carbon neutrality commitments. By hand-collecting firm-level news and stock data, we conduct event studies as well as regression modelling studies. The results show that firms experience losses in market value from committing to...

Pricing idiosyncratic products is often challenging because the seller, ex ante, lacks information about the demand for individual items. This paper develops a model of dynamic pricing for idiosyncratic products that features the optimal stopping structure and a seller that learns about...

This paper develops a model of user adoption and use of virtual currency (such as Bitcoin), and focusing on the dynamics of adoption in the presence of frictions arising from exchange rate uncertainty. The theoretical model can be used to analyze how market fundamentals determine the exchange...