• The value-relevance of adopting IFRS : evidence from 145 NGAAP restatements 

      Gjerde, Øystein; Knivsflå, Kjell Henry; Sættem, Frode (Discussion paper, Working paper, 2008-10)
      Firms listed on stock exchanges within the European Economic Area are required to report consolidated financial statements according to IFRS from 2005. The firms that adopted IFRS in 2005 were also required to restate their ...
    • Valuing the Debt Tax Shield 

      Cooper, Ian A.; Nyborg, Kjell G. (Discussion paper, Working paper, 2007)
      The tax shield from debt represents a significant proportion of total value for many companies, projects, and transactions. Accurate valuation of the debt tax shield is of more importance than ever as leverage is now ...
    • Viewing the deregulated electricity market as a bilevel programming problem 

      Bjørndal, Mette; Jörnsten, Kurt (Discussion paper, Working paper, 2000)
      In this paper we present a bilevel programming formulation of a deregulated electricity market. By looking at a deregulated electricity market in this format we achieve two things, the relation between a deregulated ...
    • Voces populi and the art of listening 

      Stensholt, Eivind (Discussion paper, Working paper, 2008-06)
      The strategy most damaging to many preferential election methods is to give insincerely low rank to the main opponent of one’s favorite candidate. Theorem 1 determines the 3-candidate Condorcet method that minimizes the ...
    • Volatility and price jumps in agricultural futures prices : evidence from wheat options 

      Koekebakker, Steen; Lien, Gudbrand (Discussion paper, Working paper, 2003-01)
      Empirical evidence suggests that agricultural futures price movements have fat-tailed distributions and exhibit sudden and unexpected price jumps. There is also evidence that the volatility of futures prices contains a ...
    • Wage dynamics and career concerns in anarchistic firms 

      Hvide, Hans K.; Kaplan, Todd (Discussion paper, Working paper, 2001-04)
      We consider firms where a worker’s effort level is contractible, but individual output is not. We attempt to determine equilibrium degree of worker discretion in choice of task (specialization) when workers have private ...
    • Wage structure and labor mobility in Norway 1980–1997 

      Hunnes, Arngrim; Møen, Jarle; Salvanes, Kjell Gunnar (Discussion paper, Working paper, 2005)
      To what extent do different firms follow different wage policies? How do such policies affect worker mobility between firms, and what are the effects of different wage bargaining regimes? The empirical branch of personnel ...
    • Wavelet improvement in turning point detection using a Hidden Markov Model 

      Li, Yushu; Reese, Simon (Discussion paper;10/14, Working paper, 2014-03)
      The Hidden Markov Model (HMM) has been widely used in regime classification and turning point detection for econometric series after the decisive paper by Hamilton (1989). The present paper will show that when using HMM ...
    • Wealth Effects on Demand for Insurance 

      Aase, Knut K. (Discussion paper, Working paper, 2007-01)
      A standard result states that under decreasing absolute risk aversion the indifference premium of the insured is a decreasing function of wealth. This has been interpreted to mean that insurance is an inferior good, which ...
    • Wealth Taxation, Non-listed Firms, and the Risk of Entrepreneurial Investment 

      Schindler, Dirk (Discussion paper;5/18, Working paper, 2018-04-27)
      How to incorporate hard-to-value assets into the wealth tax? We analyze the effect of an optimal wealth tax on risk-taking behavior and welfare when investors do not only have the standard portfolio choice with a ...
    • Weibull Wind Worth: Wait and Watch? 

      Lillestøl, Jostein (Discussion paper;2/16, Working paper, 2016-01-27)
      This paper considers a decision problem in the context of the worth of a wind mill project with profitability dependent on the average wind speed. This is partly known and the issue is whether to go on with the project now ...
    • Weight functions and sign regularity 

      Manne, Per Erik; Tungodden, Bertil (Discussion paper, Working paper, 1999-03)
      We examine the question of how the ranking between different distributions with respect to a one-parameter family of weight functions depend on the parameter. We argue that in this context sign regularity of the family of ...
    • The welfare effects of tax competition reconsidered : politicians and political institutions 

      Janeba, Eckhard; Schjelderup, Guttorm (Discussion paper, Working paper, 2008-10)
      The views on the welfare effects of tax competition differ widely. Some see the fiscal externalities as the cause for underprovision of public goods, while others see tax competition as means to reduce government inefficiencies. ...
    • What Do You Buy When No One’s Watching? The Effect of Self-Service Checkouts on the Composition of Sales in Retail 

      Olden, Andreas (Discussion paper;3/18, Working paper, 2018-03-16)
      Buying items that are unhealthy or are of a private nature may carry a stigma and cause embarrassment. I analyze whether the anonymity provided by self-service checkouts changes customers' shopping patterns in grocery ...
    • What Happened in Burlington? 

      Stensholt, Eivind (Discussion paper;26/15, Working paper, 2015-10-07)
      Three visualization techniques illustrate the distribution of electoral preferences over a candidate triple. Two of them, introduced here, concern an IRV tally. The conditions that may allow the “pushover strategy” and ...
    • What happens when it's windy in Denmark?: an empirical analysis of wind power on price volatility in the Nordic electricity market 

      Mauritzen, Johannes (Discussion paper, Working paper, 2010-12)
      This paper attempts to empirically test the effect that wind power production in Denmark has on volatility of the nord-pool wholesale electricity prices. The main result is that wind power tends to significantly reduce ...
    • What is wrong with IRV? 

      Stensholt, Eivind (Discussion paper;13/18, Working paper, 2018-10-22)
      Struggles over the single-seat preferential election method IRV, Instant Runoff Voting, (a.k.a. AV, Alternative Vote or RCV, Ranked-Choice Voting) go on in many arenas: legislatures, courts, websites, and scholarly ...
    • What puzzles? : new insights in asset pricing 

      Aase, Knut K. (Discussion paper;2012:13, Working paper, 2012-11)
      Motivated by the problems of the conventional model in rationalizing izing market data, we derive the equilibrium interest rate and risk premiums using recursive utility in continuous time. In a representative- agent ...
    • When a price is enough : implementation in optimal tax design 

      Rennes, Sander; Zoutman, Floris T. (Discussion paper;32/14, Working paper, 2014-09)
      This paper studies the design of tax systems that implement a planner's secondbest allocation in a market economy. An example shows that the widely used Mirrleesian (1976) tax system cannot implement all incentive-compatible ...
    • When is it better to wait for a new version? : optimal replacement of an emerging technology under uncertainty 

      Chronopoulos, Michail; Siddiqui, Afzal (Discussion papers;26/14, Working paper, 2014-06)
      We determine the optimal timing for replacement of an emerging technology facing uncertainty in both the output price and the arrival of new versions. Via a sequential investment framework, we determine the value of the ...