The paper presents empirical results on the discounting of delayed payoffs which show that: (1) the best approximation of the discounting process is a hyperbolic function, (2) (both animals and humans) can reverse their preferences in time. The article presents theoretical conditions on the...

Celem niniejszego artykulu jest przedstawienie argumentow mogacych sklonic inwestorow do zwiekszenia zainteresowania inwestowaniem w sposob odpowiedzialny. Poprzez analize zdolnosci do generowania wartosci dla akcjonariuszy oraz jej stabilnosci w warunkach ograniczonego dostepu do finansowania...

This paper tests for the existence of a non-linear pattern in the process of real economic convergence. It uses a sample of 88 countries for the period 1980-1999.

Dynamiczna analiza finansowa stala sie narzedziem niezastapionym i wszechstronnie wykorzystywanym w zakladach ubezpieczen. Proces dynamicznej analizy finansowej nie jest przypadkowy, obejmuje generator scenariusza stochastycznego, wejscia i wyjscia. Integruje roznorodne modele i techniki z...

We examine the estimation problem for shape-restricted functions that are continuous, non-negative, monotone non-decreasing, and strictly concave. A sieve estimator based on bivariate Bernstein polynomials is proposed. This estimator is drawn from a sieve, a set of shape-restricted Bernstein...

Urban systems are becoming increasingly complex as urban economies, social and political structures and norms, infrastructure systems and technologies evolve. Therefore, the development of operational urban simulation models is required in order to achieve an improvement of the quality of...

The econometric literature offers various modeling approaches for analyzing micro data in combination with time series of aggregate data. This paper discusses the estimation of a VAR model that allows unobserved heterogeneity across observation unit, as well as unobserved time-specific...