Search results for "discount"
showing 10 items of 108 documents
Saving Process within a Zero Waste Strategy In Sicily: A System Dynamics Approach
2018
Disposable society represents a way of living that is not sustainable anymore, mainly in a context like our planet where resources are really scarce. As theorized by Paul Connett, the guru of zero waste strategy, there is no waste until that material still contains a drop of usefulness. The core point of the paper is the implementation of a zero waste strategy in a small municipality in Sicily. By building up a SD model we can figure out how saving process connected to the decrease of amount of waste piled up in the landfoll, has been boosting this virtuous cycle, which is bound to cope with the citizens claims about environmental care and lower tax burden level.
When the Blockchain Does Not Block: On Hackings and Uncertainty in the Cryptocurrency Market
2019
A total of 1.1 million bitcoin were stolen in the 2013–2017 period. Noting that the average price for Bitcoin in 2018 was USD 7,572 the corresponding monetary equivalent of losses is USD 8.9 billion which strongly shows the societal impact of this criminal activity. Investigating the response of the uncertainty of Bitcoin when hacking incidents occur, the results of this study point toward a delayed response in volatility. The volatility increases significantly only at day t+5. Incidents of hacking that occur in the Bitcoin market affect uncertainty for another cryptocurrency Ethereum too. Again, the evidence suggests a delayed response. However, Bitcoin and Ethereum do not exhibit asymmetr…
Speculation and Lottery-Like Demand in Cryptocurrency Markets
2020
This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns are rather short-memory processes in their nature, we modify Bali et al.’s (2011, 2017) MAX measure and employ a weekly forecast horizon and last week’s daily log-returns for calculating the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk adjusted return differences between cryptocurrencies in the lowest and highest MAX deciles exceed 1.50% per week. These re…
Optimal Population Growth as an Endogenous Discounting Problem: The Ramsey Case
2018
International audience; This paper revisits the optimal population size problem in a continuous time Ramsey setting with costly child rearing and both intergenerational and intertemporal altruism. The social welfare functions considered range from the Millian to the Benthamite. When population growth is endogenized, the associated optimal control problem involves an endogenous effective discount rate depending on past and current population growth rates, which makes preferences intertemporally dependent. We tackle this problem by using an appropriate maximum principle. Then we study the stationary solutions (balanced growth paths) and show the existence of two admissible solutions except in…
Economic income, historical costing income and conservatism
2020
The paper intends to contribute at the debate on the ‘Evolutionary Advantage of Cost Accounting and Conservatism’ ( Accounting, Economics and Law: A Convivium, 2019. 9. issue) , founded on Braun’s study (2016) about The Ecological Rationality of Historical Costs and Conservatism. Moving from the IASB Conceptual Framework (2013) it stresses the renewed interest in income concept. The economic financial crisis of 2008-9 stimulated discussions between the traditional ‘received view’ of ‘cost-revenue approach’ (historical cost accounting) and ‘balance-sheet approach’ (‘current values’ and ‘present values’, that is ‘economic values’). Revaluations of assets, liabilities and owners’ equities are …
An evolutionary model of voting
2001
Collective allocation of resources that takes place in po- litical markets is characterized by the complex exchange that emerges among the individuals involved. Traditional Public Choice models de- part from individual rational choice in a setup in which many of its strict requirements need not hold. This paper introduces a model of social interaction among agents in a simple political market which de- parts from bounded rationality and evolutionary dynamics as the key mechanisms that drive individual behavior. Learning plays a signicant role as it allows to establish an individual link between decisions and collective outcomes. The model is that of a representative democracy with two parti…
Health procrastination: The experience of 35-44 years old men
2018
The focal concept of this study is health procrastination. Delay in seeking help from medical practitioners is an increasing problem in Latvia, particularly with men between the ages of 35-44. Failures in primary and secondary prevention create a number of negative consequences, for instance, longer and more complex treatment; lower recovery prognosis as well as higher treatment costs. Nevertheless, the aforementioned group often avoids medical treatment. The aim of this study was to understand the experience of 35-44 years old men in terms of their health procrastination in qualitative terms. Semi-structured in-depth interviews with 48 men within the age range of 35-44 years were conducted…
Event-Related Potentials (ERP) Indices of Motivation during the Effort Expenditure for Reward Task
2020
Dynamic and temporal facets of the various constructs that comprise motivation remain to be explored. Here, we adapted the Effort Expenditure for Reward Task, a well-known laboratory task used to evaluate motivation, to study the event-related potentials associated with reward processing. The Stimulus Preceding Negativity (SPN) and the P300 were utilized as motivation indicators with high density electroencephalography. The SPN was found to be more negative for difficult choices compared to easy choices, suggesting a greater level of motivation, at a neurophysiological level. The insula, a structure previously associated with both effort discounting and prediction error, was concomitantly a…
The determinants of increasing equity market comovement: economic or financial integration?
2010
This paper investigates to what extent the substantial increase in exposures of local European equity market returns to global shocks is mainly due to a convergence in cash flows (“economic integration”), to a convergence in discount rates (“financial integration”), or to both. We find that this increased exposure is nearly entirely due to increasing discount-rate betas. This finding is robust to alternative ways of calculating discount-rate and cash-flow shocks.
Rolling over stock index futures contracts
2009
Derivative contracts have a finite life limited by their maturity. The construction of continuous series, however, is crucial for academic and trading purposes. In this study, we analyze the relevance of the choice of the rollover date, defined as the point in time when we switch from the front contract series to the next one. We have used five different methodologies in order to construct five different return series of stock index futures contracts. The results show that, regardless of the criterion applied, there are not significant differences between the resultant series. Therefore, the least complex method can be used in order to reach the same conclusions. © 2009 Wiley Periodicals, I…