Search results for "Price"
showing 10 items of 428 documents
L'impact de l'information sur le résultat d'une vente aux enchères expérimentale de vin
2005
This paper reports the results of an experimental wine auction. Participants of the experiment were randomly assigned to three rooms. In each room four wines had to be evaluated, but the level of information to which participants had access differed across rooms. After the evaluations, the wines were sold sequentially, by four separate Vickrey auctions with secret reservation prices. We fi nd that certain socio-economic characteristics such as gender, income and consumption habits, have a signifi cant impact on the willingness to pay for wine, while others such as age and nationality, do not. We also fi nd that once individuals have read the label characteristics and extracts from wine guid…
Shareholder Wealth Effects of Women on Boards Promoting Policies: Evidence from Germany
2017
This study discusses differences in the effectiveness of voluntary and mandatory policies promoting women on boards and their potential effects on stock price returns. Furthermore, it classifies the announcements of the policy proposals discussed in Germany and analyzes their impact using event study methodology. The event date identification follows a two-step procedure employing search engine query data from GoogleTrends and traditional search methods using Lexis-Nexis and newspapers. One key event produces negative significant cumulative abnormal stock returns (CAR) of approximately 1.3 percentage points. Further regression analysis of the CAR reveals that the share of women on the super…
DETERMINANTS OF PROFITABILITY IN SPANISH FINANCIAL INSTITUTIONS. COMPARING AIDED AND NON-AIDED ENTITIES
2015
The last financial crisis has led to the greatest contribution of public funds ever made to Spanish banks. This paper studies why the need for support has been asymmetric, with not all of the institutions requiring aid. Based on profitability of assets (ROA), we determine using panel data econometric and logit response models the components of profit and loss accounts that generated profitability as well as the factors leading to some entities to ask for aid. The analyses show that before the beginning of the crisis there were significant differences between entities that needed aid and those that did not. The most profitable banks grounded their success in the traditional revenue component…
The effect of default options on choice—Evidence from online product configurators
2011
Many firms use product configurators to enable customers to specify their desired products online. In such systems, defaults are pre-specified for levels of product features by the manufacturer or dealer. For example, when configuring a racing bike online, a default is predefined (e.g., the Shimano Ultegra model) for all required features (e.g., the gearshift levers). Such defaults, which may even adapt to previous choices, ensure that a functional and fully defined product emerges at the end of the configuration process. However, when designing sales systems, companies often fail to realize that these defaults also affect customer decision-making. We demonstrate the effect by a study that …
An Operator Splitting Method for Pricing American Options
2008
Pricing American options using partial (integro-)differential equation based methods leads to linear complementarity problems (LCPs). The numerical solution of these problems resulting from the Black-Scholes model, Kou’s jump-diffusion model, and Heston’s stochastic volatility model are considered. The finite difference discretization is described. The solutions of the discrete LCPs are approximated using an operator splitting method which separates the linear problem and the early exercise constraint to two fractional steps. The numerical experiments demonstrate that the prices of options can be computed in a few milliseconds on a PC.
Starbuksa stratēģiskie lēmumi Uzbekistānā
2018
Šī maģistra darba galvenā tēma ir ieejas režīma izvēle veiksmīgai uzņēmējdarbībai Krievijas tirgos, koncentrējoties uz Starbucks kafijas uzņēmumu. Problēmas izklāsts ir šāds: Kādi ir galvenie faktori, kas ietekmē Starbucks pieejas izvēli Uzbekistānas tirgū? Kāda starptautiskās mārketinga stratēģija novedīs pie vispiemērotākās Starbucks ieviešanas Uzbekistānā? Viens no galvenajiem secinājumiem šajā tēmā ir noskaidrot, vai Uzbekistānas tirgus ir labvēlīgs Starbucks vai nē. Šajā darbā abas metodes tiek izmantotas kvalitatīvi un kvantitatīvi. Tomēr šīm izmeklēšanām galvenokārt izmantos kvalitatīvu, jo galvenā tēma ir identificēta mārketinga ziņā.
Is Spain a lumpy country? A dynamic analysis of the ‘lens condition’
2008
We implement the ‘lens condition’ of Deardoff (1994) to investigate whether lumpiness, an excessively uneven geographic distribution of production factors, is large enough to allow for regional specialization of production at different factor prices. Using data from 50 Spanish provinces over the period 1964 to 2001, we show that Spain evolved from being a lumpy economy to a state where lumpiness no longer mattered.
Deficit sustainability and inflation in EMU: An analysis from the Fiscal Theory of the Price Level
2007
Price determination theory typically focuses on the role of monetary policy, while the role of fiscal policy is usually neglected. From a different point of view, the Fiscal Theory of the Price Level takes into account monetary and fiscal policy interactions and assumes that fiscal policy may determine the price level, even if monetary authorities pursue an inflation targeting strategy. In this paper we try to test empirically whether the time path of the government budget in EMU countries would have affected price level determination. Our results point to the sustainability of fiscal policy in all the EMU countries but Finland, although no firm conclusions can be drawn about the prevalence…
Quality and competition between public and private firms
2017
We study a multistage, quality-then-price game between a public firm and a private firm. The market consists of a set of consumers who have different quality valuations. The public firm aims to maximize social surplus, whereas the private firm maximizes profit. In the first stage, both firms simultaneously choose qualities. In the second stage, both firms simultaneously choose prices. Consumers’ quality valuations are drawn from a general distribution. Each firm's unit production cost is an increasing and convex function of quality. There are multiple equilibria. In some, the public firm chooses a low quality, and the private firm chooses a high quality. In others, the opposite is true. We …
Mines and quarries production: A driver analysis of withdrawals in Italy
2020
Abstract The growing demand for non-energy mineral resources has determined relevant withdrawals as well as import-export flows. This paper aims to disentangle the drivers of raw non-energy mineral resources extraction in Italy. Using a new dataset of raw resources extracted from mines and quarries in the 21 Italian regions (19 regions and 2 autonomous provinces of Trento and Bolzano) for the period 2013–2016, our empirical analysis confirms the relevance of mining and quarrying producer price index as well as the manufacturing and construction sectors as main drivers. In line with the Hotelling (1931)'s theory, a positive relationship between m&q mineral resources extraction intensity and …