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This chapter is based on primary research focusing on the effect of bankruptcy regulatory changes in Hungary after the … are seemingly irrelevant in decision-making. The bankruptcy procedure has become a useful tactic for the owner … bankruptcy procedures in Hungary. A model in which financially rational decisions is not dysfunctional. We find that time is the …
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Winning bidders in online auctions frequently fail to complete the transaction. Because enforcing bids usually is too costly, auction platforms often allow sellers to make a "secondchance" offer to the second highest bidder, to buy at the bid price of this bidder, and let sellers leave negative...
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Financial contracts are complicated and consumers often do not grasp them in their entirety. This may lead to financial mistakes. We develop a quantitative theory of unsecured credit and equilibrium default in a market with sophisticated and naïve borrowers who sometimes misunderstand their...
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