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Does increased price competition reduce entry of new pharmaceutical products?
Granlund, David; Rudholm, Niklas - In: Advances in management & applied economics 1 (2011) 1, pp. 1-14
In October 2002, a substitution reform was introduced in the Swedish pharmaceuticals market. In this paper, the effects of increased price competition due to the reform on the entry of new pharmaceutical products were studied. The results show that the reform did affect the entry behavior of...
Persistent link: https://www.econbiz.de/10009958464
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Managed floats to damp world-wide exchange rate liquidity shocks like 1982-5, 2006-9 : field and laboratory evidence for the benefits of a single world Ccrrency
Pope, Robin; Selten, Reinhard - In: The open economics journal 4 (2011), pp. 1-38
field evidence is bolstered by a laboratory experiment. The experiment incorporates more aspects of real world complexity … cooperation-conflict model of exchange rate determination. The experiment allows an interpretation within an umbrella theory of … fundamental. SKAT allows for risk effects including those from (a) difficulties of agents in evaluating alternatives in a complex …
Persistent link: https://www.econbiz.de/10010080134
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Initial endowment effects in multi-unit vickrey auctions
Akaichi, Faical; Nayga, Rodolfo M.; Gil, José M. - In: Advances in management & applied economics 2 (2012) 4, pp. 41-55
We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the...
Persistent link: https://www.econbiz.de/10010097673
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La teoría de juegos conductual, el dilema del viajero alternativo y la maximización de pagos
Moro, Rodrigo; Freidin, Esteban; Tohmé, Fernando; … - In: Estudios de economía 38 (2011) 2, pp. 457-473
Within the area of Behavioral game theory, we focus on a specific context, namely, on a game we called the Alternative traveler’s dilemma. In this context, we observe that participants tend to choose strictly dominated strategies. In order to explain similar tendencies in other games,...
Persistent link: https://www.econbiz.de/10010049042
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Economic returns and risks to investment in education : an application of the multifactor CAPM
Athanassiadis, Antonios - In: International journal of economic sciences and applied … 4 (2011) 1, pp. 95-120
respect to investment in education. We also evaluate the risk - adjusted performance of investment in education and the role …Considering the investment in education as uncertain financial decision making we modify the short-cut method of … calculating rates of return to education by incorporating the risk premium. Recognizing that market risk isn't the only factor …
Persistent link: https://www.econbiz.de/10009958065
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The determinants of cash flows in Greek bond mutual funds
Grose, Christos - In: International journal of economic sciences and applied … 4 (2011) 1, pp. 55-77
determine their investment decisions in contrast with investors in the stock market. The risk weighted returns however represent … a crucial factor in investment decision making. Bond mutual funds that invest primarily in government bonds, appear to … mutual funds. Investors in government bonds increase their investment positions when stock markets experience small or …
Persistent link: https://www.econbiz.de/10009958067
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The amendment and empirical test of arbitrage pricing models
Wang, Shaojun; Yang, Xiaoping; Cheng, Juan; Zhang, Yafang; … - In: Journal of applied finance & banking 1 (2011) 1, pp. 163-177
The classical APT model is of the form r j - E(r j) = beta j(I - EI) + epsilon j, where r j - E(r j) is the earning deviation (called basic ariance-profit) of the security j, I is a common factor. This paper considers the impact on the securities return caused by the skewness and kurtosis of the...
Persistent link: https://www.econbiz.de/10009958478
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The stock selection problem : is the stock selection approach more important than the optimization method? : evidence from the Danish stock market
Grobys, Klaus - In: Journal of applied finance & banking 1 (2011) 1, pp. 143-162
Passive investment strategies basically aim to replicate an underlying benchmark. Thereby, the management usually …
Persistent link: https://www.econbiz.de/10009958479
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Tests of the overreaction hypothesis and the timing of mean reversals on the JSE Securities Exchange (JSE) : the case of South Africa
Hsieh, Heng-hsing; Hodnett, Kathleen - In: Journal of applied finance & banking 1 (2011) 1, pp. 107-130
This paper examines the overreaction hypothesis on the JSE Securities Exchange (JSE) documented by Page and Way [5] and Muller [4] over a longer and more recent period from 01 January 1993 to 31 March 2009. The mean reversals due to investor overreaction are found to be stronger for the past...
Persistent link: https://www.econbiz.de/10009958481
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Market timing and statistical arbitrage : which market timing opportunities arise from equity price busts coinciding with recessions? : the Swedish stock market in the financial cr...
Grobys, Klaus - In: Journal of applied finance & banking 1 (2011) 1, pp. 53-81
Even though a random walk process is from a statistical point of view not predictable, some movements can be correlated with specific events concerning other variables. Then, predictable patterns may arise being dependent on this joint event. There is evidence given that equity price busts being...
Persistent link: https://www.econbiz.de/10009958483