Essays on Heterogeneity, Asset Pricing and Trade
Title | Essays on Heterogeneity, Asset Pricing and Trade PDF eBook |
Author | Shashidhar N. Murthy |
Publisher | |
Pages | 240 |
Release | 1990 |
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Three Essays on Heterogeneity, Insurance, and Asset Pricing
Title | Three Essays on Heterogeneity, Insurance, and Asset Pricing PDF eBook |
Author | Tsvetanka Karagyozova |
Publisher | |
Pages | 264 |
Release | 2007 |
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Essays in Asset Pricing and Market Imperfections
Title | Essays in Asset Pricing and Market Imperfections PDF eBook |
Author | Weiyang Qiu (Ph. D.) |
Publisher | |
Pages | 176 |
Release | 2010 |
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(cont.) The third part of the thesis studies asset pricing under heterogeneous information. In an asset market where agents have heterogeneous information, asset prices not only depend their expectations of the true fundamentals but also depend on their expectations of the expectations of others. Iterations of such expectations lead to the so-called "infinite regress" problem, which makes the analysis of asset pricing under heterogeneous information challenging. In this part, we solve the infinite-regress problem in a simple economic setting under a fairly general information structure. This allows us to examine how different forms of information heterogeneity impacts the behavior of asset prices, their return dynamics, trading volume as well as agents' welfare.
Essays on Asset Pricing with Preference Heterogeneity
Title | Essays on Asset Pricing with Preference Heterogeneity PDF eBook |
Author | Giuliano Antonio Curatola |
Publisher | |
Pages | 197 |
Release | 2013 |
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Essays on Household Heterogeneity and Asset Pricing
Title | Essays on Household Heterogeneity and Asset Pricing PDF eBook |
Author | Jack Favilukis |
Publisher | |
Pages | 418 |
Release | 2007 |
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Essays on Pricing Under Uncertainty and Heterogeneity in the Finance-trade-growth Nexus
Title | Essays on Pricing Under Uncertainty and Heterogeneity in the Finance-trade-growth Nexus PDF eBook |
Author | Seyed Reza Yousefi |
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Pages | 300 |
Release | 2013 |
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My dissertation consists of empirical and theoretical essays on Microeconomic Theory and International Economics. The first chapter discusses the existence and characterization of a model that determines producer's optimal pricing and allocation rule as a preannounced markdown schedule. The mechanism focuses on pricing and operational implications of allotting scarce resources when customers are heterogeneous in their valuations and sensitivities towards availability of product. The proposed mechanism suggests that a carefully designed multistep markdown pricing could achieve optimal revenue when selling a single unit. However, to sell multiple units, monopolist should modify the implementation of markdown pricing by either hiding the number of available products or selling them via contingent contracts and upfront payments. In the second essay, we study the heterogeneity of finance and growth nexus across countries. Our paper contributes to the literature by investigating whether this impact differs across regions and types of economy. Using a rich dataset, cross-section and dynamic panel estimation results suggest that the beneficial effect of financial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by regulatory/supervisory characteristics and related to differing performance on financial access for a given level of depth. The third chapter analyzes contraction of exports in the aftermath of severe financial crises and tests for its heterogeneity across different industries and based on their credit conditions. It provides a theoretical framework to provide insight on why sectors are hit disproportionately during and in the aftermath of severe financial distresses, and confirms most of them with empirical estimations. The findings suggest that industries with greater reliance on outside financing and fewer shares of tangible assets experience greater contractions in export volumes in the years following a severe financial crisis.
Essays on Asset Pricing with Heterogeneous Investors
Title | Essays on Asset Pricing with Heterogeneous Investors PDF eBook |
Author | Scott Spencer Condie |
Publisher | |
Pages | 210 |
Release | 2007 |
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