lower price errors in the underlying. The more popular options are, the more quickly information is incorporated in the …

I develop a noisy rational expectations equilibrium model with a continuum of states and a full set of options that … have important implications for price discovery through options …

different types of output market uncertainty (in particular, unanticipated shocks in demand and costs) on a firm’s leverage … demand uncertainty is positively related to leverage for firms in both the Cournot and the Bertrand sample. Cost uncertainty … has a significantly positive impact on the leverage of Cournot firms, but plays a negligible role for Bertrand firms. Our …

We analyze the importance of firm-specific and country-specific factors in the leverage choice of firms from 42 … countries around the world. Our analysis yields two new results. First, we find that firm-specific determinants of leverage … is an indirect impact because country-specific factors also influence the roles of firm-specific determinants of leverage. …

-style options. We introduce a skewed version of the Student-t distribution, whose main advantage is that its shape depends on only … to compare different distributions and use the parameters as inputs to price other options. We explain the method … provides a better fit to market prices of options than the Shimko or implied tree models, and has a lower computation time than …