Returns of equities tend to exhibit momentum in the short to medium term and reversals in the longer term. While presenting results partly supporting such findings, we demonstrate that investors rely on multiple reference points in their trading behaviour. In particular it is shown that the...

This paper attempts to examine a few factors characterizing preferences, curriculum, and learning strategies that influence academic success and failure. On the basis of a proportional odds model, our findings reveal that good performance by the student depends on: (i) the time spent on physical...

The purpose of this study is to estimate a model of male labour supply, when agents may be subject to quantity constraints. As the data contain direct information about hours constraints, this information is used in the estimation. We also quantify the importance of such rationing for the...