Temporary price reductions (sales) are common for many goods and naturally result in large increases in the quantity sold. Demand estimation based on temporary price reductions may mis-measure the long run responsiveness to prices. In this paper we quantify the extent of the problem and assess...

Given their sheer magnitude, the payments made by companies for the purchase of oil, gas and minerals from governments or state-owned enterprises are of significant public interest. However, only a few commodity trading companies regularly publicly disclose information in respect of their...

We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency's role as a unit of account for invoicing decisions is complementary to its role as a safe store of value; 2) this...

We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency's role as a unit of account for invoicing decisions is complementary to its role as a safe store of value; 2) this...

Dieses Buch führt in die Grundlagen und Praxis von Handelsklauseln ein. Am Beispiel der Incoterms® 2020 zeigt es, wie Unternehmen ihre Verträge im globalen Handel mit der Wahl geeigneter Handelsklauseln geschickt gestalten können. Unterschiedliche Gepflogenheiten und Missverständnisse...

Conditional pricing practices allow the terms of sale between a producer and a downstream distributor to vary based on the ability of the downstream firm to meet a set of conditions put forward by the producer. The conditions may require a downstream firm to accept minimum quantities or multiple...

Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...

Conditional pricing practices allow the terms of sale between a producer and a downstream distributor to vary based on the ability of the downstream firm to meet a set of conditions put forward by the producer. The conditions may require a downstream firm to accept minimum quantities or multiple...

Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...

The paper explores the conditions whereby an exporter can gain a competitive advantage by offering a buyer a contract with a choice of invoice currencies rather than a single currency, and determines the value of such a choice. The model incorporates accounts-payable management with exchange-...

Principal customers have strong incentives to screen and/or monitor suppliers to ensure supply-chain stability; consequently, the implicit certification from the existence of long-term relationships with principal customers has reputational consequences that potentially spill over to other...

When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...

When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...

When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (Forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...

Bedeutung des Exports -- Export-Kennzahlen.- Besonderheiten der Auslandsgeschäfte und daraus resultierende Maßnahmen für den Exporteur.- Zahlungs- und Lieferbedingungen.- Exportfinanzierung -- Rechtliche Formalitäten und Erfordernisse im Außenhandelsgeschäft.- Marketing und Sales.-...

This study compares the efficacy of some commonly observed vendor selection and contracting mechanisms with respect to two key challenges in service outsourcing: vendor selection and contract efficiency. We show that competitive bidding yields good selection but contract inefficiency (positive...

This paper studies the impact of the network centrality of directors on the choice of payment method in mergers and acquisitions of firms in which they sit at the board. We assume that the centrality of directors reduces information asymmetry problems, facilitating information transmission...