This study designs methodology for computation trading policy for a terminal-time borrowing-constrained investor, who operates in complete markets allowing delta-hedging. A specific example of a log-utility trader in geometric Brownian motion framework illustrates the general findings....

Theoretical no-arbitrage option prices are not unique in incomplete markets. This complication stems from the unknown risk-premium, which plays an important role in the option valuation problem. This paper establishes restrictions on the risk-premium parameters. The major tools of this research...

Using a conjoint analysis of 417 finance professionals from six countries, we find no evidence that higher interest rates cause knowledgeable depositors to moderate their withdrawals during a banking crisis. In fact, intended withdrawals are positively correlated with expected interest rate...

USDA operates several food assistance programs aimed at alleviating food insecurity. We study whether participation in both SNAP and WIC alleviates food insecurity compared with participation in SNAP alone. We bound underlying causal effects by applying nonparametric treatment effect methods...