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Sustainability Attributes in Real Estate Development: Private Perspectives on Advancing Energy Regulation in a Liberalized Market

Felipe Encinas, Carlos Aguirre, Carlos Marmolejo-Duarte
2018 Sustainability  
This suggests that this model should be reviewed from a public policy perspective, with the understanding that the current voluntary standards must compete with other attributes.  ...  A methodology consisting of two approaches was utilized to investigate the cross-validation of attributes, in terms of supply and demand, and the evolution of them in 8255 real estate advertisements for  ...  A proposed definition of real estate prices is determined based on the relationship between two approaches: supply price and demand price, which constitute a binomial and influence one another mutually  ... 
doi:10.3390/su10010146 fatcat:jww3ilbp35dt3n7v5ed5oa2lom

Behavioral Biases Never Walk Alone

Isabel Abinzano, Luis Muga, Rafael Santamaria
2016 Journal of Sports Economics  
This paper presents evidence of the impact of overconfidence bias in asset prices drawn from a study based on data from tennis betting exchanges.  ...  Just as in traditional financial markets, arbitrage limits are shown to be a necessary condition for the impact of behavioural biases on prices.  ...  ACKNOWLEDGEMENTS This paper has received financial support from the Spanish Ministry of Economy and Competitiveness (ECO2012-35946-C02-01).  ... 
doi:10.1177/1527002514560575 fatcat:7kaixpfux5avlphcxlzuujyh6a

Abstracts of Working Papers in Economics

1995 Abstracts of Working Papers in Economics  
Currency Substitution, AB Our model is a variant of the cash-in-advance model. Goods must be purchased in the seller's currency, but currency may be traded before shopping at a cost.  ...  This cost is a measure of substitutability. The model is applied to seignorage taxation.  ...  AB An often-cited result in corporate finance is that a firm should call a bond as soon as its market price equals its call price.  ... 
doi:10.1017/s0951007900004381 fatcat:d4t7i55jonfuvlgsawqm7ehxhy

Abstracts of Working Papers in Economics

2001 Abstracts of Working Papers in Economics  
Data on 12 European countries over the period 1974 to 1992 are consistent with the implications of this model: A higher dependency ratio leads to a lower tax rate on labor income, with the effects statistically  ...  AB This paper develops an overlapping generations model of Social Security and human capital formation in which -somewhat against the conventional wisdom -an increase in the dependency ratio can lead to  ...  AB Multi-fractal processes have been proposed as a new formalism for modeling the time series of returns in finance.  ... 
doi:10.1017/s0951007900005337 fatcat:lvzrys5zgzbera5aswsdoifx2a

Designing Auctions in R&D: Optimal Licensing of an Innovation

Isabelle Brocas
2006 Topics in Economic Analysis & Policy  
We show that, as long as the cost of public intervention is sufficiently low, free licensing induces two different types of inefficiencies: an excessively high price for licenses that results in a suboptimal  ...  We study an R&D game in which a research unit undertakes a (non-observable) research effort and, if an innovation is obtained, auctions licenses of the invention to a pool of producers.  ...  from the fact that the innovator can fix high royalties (formally in our model, a high reserve price), so that many producers do not get licenses and therefore are "excluded" from ex-post competition.  ... 
doi:10.2202/1538-0653.1533 fatcat:fgarwidoozcolgrknuqmlocpem

Self-exciting threshold binomial autoregressive processes

Tobias A. Möller, Maria Eduarda Silva, Christian H. Weiß, Manuel G. Scotto, Isabel Pereira
2015 AStA Advances in Statistical Analysis  
Finally, the performance of these models is illustrated through a simulation study and an empirical application to a set of measle cases in Germany.  ...  We introduce a new class of integer-valued self-exciting threshold models, which is based on the binomial autoregressive model of order one as introduced by McKenzie (Water Resour Bull 21:645-650, 1985  ...  para a Ciência e a Tecnologia), within project UID/MAT/04106/2013.  ... 
doi:10.1007/s10182-015-0264-6 fatcat:po3vzwmnyffupg3t6gylsxx7ge

Abstracts of Working Papers in Economics

2003 Abstracts of Working Papers in Economics  
brought in the government in the first place (Selection Principle).  ...  The minimum bid rate and the level of secondary market rates play a crucial role in bidder behavior and auction performance. We also document that large bidders do better than small bidders.  ...  We give an explanation for both claims in a formal model.  ... 
doi:10.1017/s0951007900005945 fatcat:g2kskn3d25g3zaz6awnn2tkqwm

Abstracts of Working Papers in Economics

2003 Abstracts of Working Papers in Economics  
This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of  ...  The price of capital is mean-reverting so the initial increase in the price of capital is followed by a decrease.  ...  in a 100% sample of the 1880 Census.  ... 
doi:10.1017/s0951007900006185 fatcat:zzvpuctu4jhrxa5yh7d45rp75a

Abstracts of Working Papers in Economics

1997 Abstracts of Working Papers in Economics  
AB We show that the bias of estimated parameters in autoregressive models can increase as the sample size grows.  ...  This unusual result is due to the effect of the initial sample observations that are typically neglected in theoretical asymptotic analysis, in spile of their empirical relevance.  ...  Then the covariance is large and negative, none of the proposed methods is robust to a deviation from unity.  ... 
doi:10.1017/s0951007900003430 fatcat:oihawd6jxbdrbipl5wzi254txi

Abstracts of Working Papers in Economics

2000 Abstracts of Working Papers in Economics  
These features of technological change are emphasized in the historical and microeconomic literatures, and are formalized here using a distinction between fundamental and secondary knowledge.  ...  AB We consider a macroeconomic model of endogenous innovation and growth, in which technological progress is path dependent and technological lock-in may occur.  ...  KW Binomial Models. Option Pricing. Lattice Models. Barrier Options. Asset Pricing.  ... 
doi:10.1017/s0951007900004915 fatcat:62y3byrmc5ag5czgxtoyqmhhdm

Abstracts of Working Papers in Economics

1989 Abstracts of Working Papers in Economics  
Investment behavior is analyzed using a dynamic optimization model of a firm facing costs of adjustment. This framework integrates the accelerator model, the neoclassical model and the q theory.  ...  In addition, the implications of liquidity constraints and the unpredictability of the rate of return on wealth are discussed.  ...  AB The option value model developed in an earlier paper is used to simulate the effect on retirement of changes in a firm's pension plan compared to the effect of changes in Social Security provisions.  ... 
doi:10.1017/s0951007900001297 fatcat:hrynv7ywovcerjvrzgkkoddxvy

Technological joint venture formation under the real options approach

Isabel Estrada, Gabriel de la Fuente, Natalia Martín-Cruz
2010 Research Policy  
A further step towards bridging the gap between finance theory and strategic analysis is thus taken.  ...  Using a panel of 29 376 observations from 4050 manufacturing firms operating in Spain between 1998 and 2005, our results are consistent with real options approach predictions.  ...  The results of the econometric estimates of the binomial logit models are illustrated in Tables 6 to 8 .  ... 
doi:10.1016/j.respol.2010.05.015 fatcat:krxhdzr7cvhmlgp2uszahknx7u

Abstracts of Working Papers in Economics

1994 Abstracts of Working Papers in Economics  
In the latter, shares are also initially equally distributed to adult citizens in the form of coupons, and trade can take place on a coupon stock market, where prices of shares are quoted only in coupons  ...  In the current version, the model does not include any abatement technology.  ...  It also shows how the one-period and multi-period binomial option pricing formulas can be restated so that they involve analogues of N(dl) and N(d2) which have the same interpretation as in the Black-Scholes  ... 
doi:10.1017/s0951007900006379 fatcat:qmqzliobt5f25onlm3id3yywaq

Abstracts of Working Papers in Economics

1998 Abstracts of Working Papers in Economics  
It is shown that the price of a futures-style, marked-lo-market option is given by Black's formula if the pricing kernel is lognormally distributed.  ...  Following the methodology proposed in our earlier work, we also decompose output growth into technical, efficiency and input changes and examine patterns of growth in the period under consideration.  ...  Most have to be priced by some numerical approximation technique, of which Binomial and Trinomial lattice models are the most widely used.  ... 
doi:10.1017/s0951007900003995 fatcat:siqha7fymfbdfnz2vr74tl4oai

Abstracts of Working Papers in Economics

2003 Abstracts of Working Papers in Economics  
Our model provides a formalization of a style of redistributive politics known as "clientelism".  ...  Thus it is impossible to find a common monetary policy that will result in price stability in all countries.  ...  AB Latent variable models in finance originate both from asset pricing theory and time series analysis.  ... 
doi:10.1017/s0951007900005994 fatcat:ggowvkgpdzcidl4ovpcwobr2ye
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