We consider repeated interaction among several producers of a homogenous, divisible good, traded at a common market. Demand is uncertain, and its law is unknown. We explore an adaptive scheme leading such producers over ...

We study the role of distressed bank debt in affecting the outcome of Swedish bankruptcy auctions. The auction determines the going-concern premium, i.e., the premium over the piecemeal liquidation value to be paid for the ...

We address key issues that a foreign investor needs to evaluate when deciding whether to enter into a joint venture with a local partner. We explicitly show how the values depend on the valuation methodology, i.e., the ...

This paper considers a two-sector education model with two novel features. First, contracts have an independent role in sorting workers into different sectors of the economy. Second, education improves workers’ awareness ...

This paper develops a model in which new issues, in equilibrium, may be overpriced or underpriced, depending on parameter values. The ability of an investor to withdraw from the offering upon observing unfavorable information ...

In this paper we suggest a microeconomic model for how commuting flows relate to traveling distance. Commuting is the preferred choice of a worker whenever he can obtain an increase in wages greater than the cost of ...

It is shown how a farmer can lock in a certain revenue by a combined trade in futures price and futures yield contracts, abstracting from production costs. An economic model is proposed for a combined price futures and ...

A supply chain is two or more parties linked by a flow of goods, information and funds. Since this means that supply chain management concerns environments in which there are multiple decision makers, which may be different ...