This paper uses agent-based simulation to analyze how financial markets are affected by market participants with convex incentives, e.g. option-like compensation. We document that convex incentives are associated with (i) higher prices, (ii) larger variations of prices, and (iii) larger bid-ask...

This paper uses agent-based simulation to analyze how financial markets are affected by market participants with convex incentives, e.g. option-like compensation. We document that convex incentives are associated with (i) higher prices, (ii) larger variations of prices, and (iii) larger bid-ask...

Part A. Introduction to Young Adults’ Indebtedness -- Chapter 1. Why Study Young Adults’ Indebtedness?; Jeanette Carlsson Hauff, Tommy Gärling, and Ted Lindblom -- Chapter 2. Indebtedness, Over-indebtedness and Wellbeing; Viktor Elliot and Ted Lindblom -- Chapter 3. The Loan Market—the...

The life-cycle theory of saving behavior (Modigliani, 1988) suggests that humans strive towards an equal intertemporal distribution of wealth. However, behavioral life-cycle theory (Shefrin & Thaler, 1988) proposes that people use self control heuristics to postpone wealth until later in life....

This case note discusses a 2013 decision of Indonesia’s Constitutional Court (Mahkamah Konstitusi) and a series of lower court judgments issued following that decision. In that decision, the Court ruled that, notwithstanding the statutory right to freedom of contract, parties to an Islamic...

This article addresses the role played by Indonesia’s peak Islamic body, the Majelis Ulama Indonesia (MUI), in the prosecution and conviction of the former governor of Jakarta, Basuki ‘Ahok’ Tjahaja Purnama. The article analyses the ways in which certain members of MUI used the...