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advantage in the final stage. We examine such momentum in conflict scenarios and investigate how valuable it must be to avoid a …, rent dissipation in the two-stage conflict is equal across party whether or not an individual obtains first-stage momentum … as useful conflict benchmarks, they dissipate additional expected contest rents. This additional rent-dissipative toll …
Persistent link: https://www.econbiz.de/10013171901
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Approximately 1.2% of Colombia's GNP is spent every year on the war on drugs, but very little is known about coca farming decisions at the household level. In order to understand the decision to cultivate coca as well as that of the amount of land to use for its cultivation, we develop an...
Persistent link: https://www.econbiz.de/10010339419
This paper examines short-term price reactions after one-day abnormal price changes and whether they create exploitable profit opportunities in various financial markets. A t-test confirms the presence of overreactions and also suggests that there is an "inertia anomaly", i.e. after an...
Persistent link: https://www.econbiz.de/10010431281
This study analyzes the impact of a newly emerging type of anti-money laundering regulation that obligates cryptocurrency exchanges to report suspicious transactions to financial authorities. We build a theoretical model for the reporting decision structure of a private bank or cryptocurrency...
Persistent link: https://www.econbiz.de/10012705441
The importance of investment advisers to the financial well-being of their clients cannot be overstated. Individuals and institutions entrust trillions of dollars to investment advisers to manage on their behalf. This paper discusses and explains fiduciary principles in investment advice....
Persistent link: https://www.econbiz.de/10012862365
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The regulatory structure for financial advice now tolerates incentives motivating financial advisors to manipulate and deceive retail investors. While scholars thus far have argued for ways to improve investor protections, the literature has largely ignored how these flawed incentives affect the...
Persistent link: https://www.econbiz.de/10012968943
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Evaluating diversity, regarded as capital distribution among the constituent stocks of a market, and the relative stability of the very market with a given composition in the long term, allow some inferences about individual stock's dynamics. This document presents a stochastic approach to...
Persistent link: https://www.econbiz.de/10013086758