This paper develops one possible argument why auctioning licenses to op-erate in an aftermarket may lead to higher prices in the aftermarket comparedto a more random allocation mechanism. Key ingredients in the argumentare differences in firms' risk attitudes and the fact that future market...

This paper develops one possible argument why auctioning licenses to operate in an aftermarket may lead to higher prices in the aftermarket compared to a more random allocation mechanism. Key ingredients in the argument are differences in firms' risk attitudes and the fact that future market...

A market characterized as differentiated oligopoly has the following characteristics: firms experience information asymmetry with respect to other firms, utilize intangible investments to attract customers and obtain transient advantages against rival firms, take risks when dealing with their...

In this study, we assess whether banking system concentration is strongly linked to banks credit risk exposure. We use a sample of 138 commercial banks drawn from SADC countries between 1999 and 2005. The results exhibit no significant influence of concentration on four measures of credit...

This paper studies empirically the relationship between competition and risk taking in banking markets. We exploit an unique dataset providing information about all bank loans to Norwegian firms over several years. Rather than relying on observed market shares, we use the distance between bank...

This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting...

The theoretical literature on risk aversion and Expected Utility Theory is extensive; however, the analysis of this behaviour with natural experiments could be more comprehensive. In this paper, we use data from 120 episodes of the Portuguese version of the TV game show The Price is Right, namely...