Now showing items 187-206 of 563

    • Gas storage valuation : price modelling v. optimization methods 

      Bjerksund, Petter; Stensland, Gunnar; Vagstad, Frank (Discussion paper, Working paper, 2008-10)
      The existence of a financial gas market motivates the analysis of gas storage as a separate asset, using the market value context for utilization and valuation. In the recent literature, gas storage is typically analysed ...
    • Gasoline prices jump up on Mondays : an outcome of aggressive competition? 

      Foros, Øystein; Steen, Frode (Discussion paper, Working paper, 2009-04)
      This paper examines Norwegian gasoline pump prices using daily station-specific observations from March 2003 to March 2006. Whereas studies that have analyzed similar price cycles in other countries find support for the ...
    • A general stochastic calculus approach to insider trading 

      Biagini, Francesca; Øksendal, Bernt (Discussion paper, Working paper, 2002-12)
      The purpose of this paper is to present a general stochastic calculus approach to insider trading. In a market driven by a standard Brownian motion B(t) on a filtered probability space (Ω, F, {F}t>0, P), by an insider we ...
    • Gibbard-Satterthwaite and an Arrovian Connection 

      Stensholt, Eivind (Discussion paper, Working paper, 2008-06)
      A very close link of G-S, the Gibbard-Satterthwaite theorem to Arrow’s "impossibility" theorem is shown. G-S is derived as a corollary: from a strategy-proof singleseat election method F is constructed an election method ...
    • The global minimum tax raises more revenues than you think, or much less 

      Janeba, Eckhard; Schjelderup, Guttorm (Discussion paper;6/22, Working paper, 2022-02-07)
      The OECD’s proposal for a global minimum tax (GMT) of 15% aims for a reversal of a decline of corporate tax rates. We study the revenue effects of the GMT by focusing on strategic tax setting effects. The direct effect ...
    • Global warming and international fishery management : does anticipation of the temperature change matter? 

      Liu, Xiaozi; Heino, Mikko (Discussion paper, Working paper, 2010-12)
      This paper investigates the effects of climate-induced rising of ocean temperature on the optimal fishing policies in a two players’ non-cooperative game setting. We compare reactive management, under which the manager ...
    • Globally evolutionarily stable portfolio rules 

      Evstigneev, Igor V.; Hens, Thorsten; Schenk-Hoppé, Klaus Reiner (Discussion paper, Working paper, 2005-09)
      The paper examines a dynamic model of a financial market with endogenous asset prices determined by short run equilibrium of supply and demand. Assets pay dividends, that are partially consumed and partially reinvested. ...
    • Grading standards, student ability and errors in college admission 

      Møen, Jarle; Tjelta, Martin (Discussion paper, Working paper, 2010-06)
      Grades are important for admission of students in most higher education programmes. Analysing admission and student performance data at a major Norwegian business school, we find that the grading practice of teachers ...
    • Greed is good: from super-harvest to recovery in a stochastic predator-prey system 

      Ni, Yuanming; Sandal, Leif K.; Kvamsdal, Sturla F.; Poudel, Diwakar (Discussion paper;5/19, Working paper, 2019-09-04)
      This paper demonstrates a predator-prey system of cod and capelin that confronts a possible scenario of prey extinction under the first-best policy in a stochastic world. We discover a novel ‘super-harvest’ phenomenon that ...
    • Greening the Vehicle Fleet: Evidence from Norway’s CO2 Differentiated Registration Tax 

      Yan, Shiyu; Eskeland, Gunnar S. (Discussion paper;14/16, Working paper, 2016-08-31)
      Fiscal policies are used to improve vehicle fuel efficiency and reduce CO2 emissions in the transport sector. Years of forceful reform in Norway may be seen as informative. From 2007, Norway has linked its new vehicle ...
    • Guaranteed investment contracts: distributed and undistributed excess return 

      Miltersen, Kristian R.; Persson, Svein-Arne (Discussion paper, Working paper, 2000)
      Annual minimum rate of return guarantees are analyzed together with rules for distribution of positive excess return, i.e. investment returns in excess of the guaranteed minimum return. Together with the level of the annual ...
    • Guarantees of Origin and Competition in the Spot Electricity Market 

      Blázquez, Mario; Hovdahl, Isabel; Arve, Malin; Bjørndal, Endre; Bjørndal, Mette (Discussion paper;24/23, Working paper, 2023-12-15)
      We study the effect of introducing a market for green energy attributes on the market for the energy itself. In Europe, renewable energy producers receive Guarantees of Origin (GOs) that they can sell to consumers who wish ...
    • Harmonization of Corporate Tax Systems and its Effect on Collusive Behavior 

      Schindler, Dirk; Schjelderup, Guttorm (Discussion paper, Working paper, 2007-01)
      We study how harmonization of corporate tax systems affects the stability of international cartels. We show that tax base harmonization reinforces collusive agreements, while harmonization of corporate tax rates may ...
    • Heterogeniety and limited stock market participation 

      Aase, Knut K. (Discussion paper;05/14, Working paper, 2014-02)
      We derive the equilibrium interest rate and risk premiums using recursive utility with heterogeneity in a continuous time model. Two ordinally equivalent versions are considered, each associated with a di erent set of ...
    • Hidden semi-Markov models for rainfall-related insurance claims 

      Shi, Yue; Punzo, Antonio; Otneim, Håkon; Maruotti, Antonello (Discussion paper;17/23, Working paper, 2023-11-06)
      We analyze the temporal structure of a novel insurance dataset about home insurance claims related to rainfall-induced damage in Norway, and employ a hidden semi-Markov model to capture the non-Gaussian nature and temporal ...
    • A hit-and-run interloper model for a regional fisheries management on the high sea 

      Sandal, Leif Kristoffer; Steinshamn, Stein Ivar; McKelvey, Robert W. (Discussion paper, Working paper, 2002-07)
      The 1993 U.N. Straddling Stock Agreement prescribes a multi-national organizational structure for management of an exploited marine fish stock, one whose range straddles both .Extended Economic Zones. (EEZs) and high seas ...
    • Home bias in shareholder voting 

      Li, Xuan (Discussion paper;21/23, Working paper, 2023-11-10)
      Institutional investors’ proxy voting decisions are influenced by their geographic proximity to portfolio firms. Using a sample of over 50 million votes cast by U.S. and non-U.S. investors globally, I find that investors ...
    • Hotelling competition with multi-purchasing 

      Anderson, Simon P.; Foros, Øystein; Kind, Hans Jarle (Discussion paper, Working paper, 2010-12)
      We analyze a Hotelling model where consumers either buy one out of two goods (single-purchase) or both (multi-purchase). The firms pricing strategies turn out to be fundamentally different if some consumers multi-purchase ...
    • How time preferences differ : evidence from 45 countries 

      Wang, Mei; Rieger, Marc Oliver; Hens, Thorsten (Discussion paper;2011:18, Working paper, 2011-10)
      We present results from the first large-scale international survey on time discounting, conducted in 45 countries. Cross-country variation cannot simply be explained by economic variables such as interest rates or ...
    • How to extend the RiskMetrics market risk universe 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper, Working paper, 2002)
      RiskMetrics™ (RM) represents a framework for measuring market risk founded on the Value at Risk concept, and offer daily updated estimates of standard deviations and correlations of the assets within their market risk ...