• Making Bank: Why High Bank Leverage is Optimal - for the Bank's Shareholders 

      Atreya, Nikhil; Mjøs, Aksel; Persson, Svein-Arne (Discussion paper;33/15, Working paper, 2015-11-27)
      We create a structural credit model to calculate the optimal capital structure for a bank that provides asset backed loans, such as corporate loans and mortgages. The bank's assets are loans, which means that the bank's ...
    • Making prospect theory fit for finance 

      De Giorgi, Enrico; Hens, Thorsten (Discussion paper, Working paper, 2005-09)
      This paper gives a survey over a common aspect of prospect theory that occurred to be of importance in a series of recent papers developed by Enrico De Giorgi, Thorsten Hens, Janos Mayer, Haim Levy, Thierry Post, Marc ...
    • Malmquist Productivity Analysis based on StoNED 

      Cheng, Xiaomei; Bjørndal, Endre; Bjørndal, Mette (Discussion paper;25/15, Working paper, 2015-09-24)
      We construct a Malmquist productivity index based on stochastic non-parametric envelopment of data (StoNED) method, and we study how the distributional assumptions in the second StoNED stage affect productivity change ...
    • Management of Knowledge Workers 

      Hvide, Hans K.; Kristiansen, Eirik Gaard (Discussion paper, Working paper, 2006-06)
      We study how complementarities and intellectual property rights affect the management of knowledge workers. The main results relay when a firm will wish to sue workers that leave with innovative ideas, and the effects of ...
    • Managing Flexible Load Contracts: Two simple strategies 

      Bjerksund, Petter; Myksvoll, Bjarte; Stensland, Gunnar (Discussion paper, Working paper, 2006-11)
      A flexible load contract is a type of swing option where the holder has the right to receive a given quantity of electricity within a specified period, at a fixed maximum effect (delivery rate). The contract is flexible, ...
    • Market integration for natural gas in Europe 

      Asche, Frank; Osmundsen, Petter; Tveterås, Ragnar (Discussion paper, Working paper, 2000-09)
      In this paper we examine the degree of market integration in French gas imports. Are there substantial price differences between gas from different export countries, and do prices move together? Furthermore, we analyze to ...
    • Market power in a power market with transmission constraints 

      Bjørndal, Mette; Gribkovskaia, Victoria; Jörnsten, Kurt (Discussion papers;29/14, Working paper, 2014-06)
      In this paper we present a model for analysing the strategic behaviour of a generator and its short run implications on an electricity network with transmission constraints. The problem is formulated as a Stackelberg ...
    • Market Power Under Nodal and Zonal Congestion Management Techniques 

      Bjørndal, Endre; Bjørndal, Mette; Rud, Linda; Rahimi Alangi, Somayeh (Discussion paper;14/17, Working paper, 2017-11-07)
      Contrary to the common thought that nodal pricing provides more opportunities for a strategic player to exert market power than the zonal model, we show that in the latter one because of the need for re-dispatch or ...
    • A market-based approach to manage endangered species interactions 

      Kvamsdal, Sturla Furunes; Stohs, Stephen M. (Discussion paper, Working paper, 2010-09)
      An economic activity interacts with an endangered species. The activity can be divided into mutually exclusive strata with different levels of inter- action. Observing the activity in order to monitor interactions is ...
    • Markets do not select for a liquidity preference as behavior towards risk 

      Hens, Thorsten; Schenk-Hoppé, Klaus Reiner (Discussion paper, Working paper, 2003-10)
      Tobin (1958) has argued that in the face of potential capital losses on bonds it is reasonable to hold cash as a means to transfer wealth over time. It is shown that this assertion cannot be sustained taking into account ...
    • Markets With Memory: Dynamic Channel Optimization Models With Price-Dependent Stochastic Demand 

      Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;8/19, Working paper, 2019-09-09)
      Almost every vendor faces uncertain and time-varying demand. Inventory level and price optimization while catering to stochastic demand are conventionally formulated as variants of newsvendor problem. Despite its ubiquity ...
    • Matched Dispatching in Randomized Settings 

      Lillestøl, Jostein; Manne, Per (Discussion paper;23/23, Working paper, 2023-12-11)
      This paper examines some problems of matched dispatching in some different random settings. The context of presentation is that of a reality show with a lineup of the participants, and according to some probabilistic ...
    • Matematikk og statistikk som metodefag ved NHH: De første femti år 

      Lillestøl, Jostein (Discussion paper;7/18, Working paper, 2018-05-15)
      Denne rapporten gir en oversikt over utviklingen av matematikk og statistikk som metodefag i studiene ved Norges Handelshøyskole, fra starten i 1936 og 50 år framover til omlag 1986. Spesiell vekt er lagt på perioder da ...
    • MCMC analysis of diffusion models with application to finance 

      Eraker, Bjørn (Discussion paper, Working paper, 1998-03)
      In this paper a new method is proposed for estimation of parameters in diffusion processes from discrete observations. The proposed simulation based MCMC methodology applies to a wide class of models including systems with ...
    • Measuring financial contagion by local Gaussian correlation 

      Støve, Bård; Tjøstheim, Dag; Hufthammer, Karl Ove (Discussion paper, Working paper, 2010-09)
      This paper examines financial contagion, that is, whether the cross-market linkages in financial markets increases after a shock to a country. We introduce the use of a new measure of local dependence (introduced by ...
    • Measuring Market Power in Gasoline Retailing: A Market- or Station Phenomenon? 

      Nguyen-Ones, Mai; Steen, Frode (Discussion paper;4/18, Working paper, 2018-04-19)
      Applying detailed consecutive daily micro data at the gasoline station level from Sweden we estimate a structural model to uncover the degree of competition in the gasoline retail market. We find that retailers do exercise ...
    • Media firm strategy and advertising taxes 

      Kind, Hans Jarle; Koethenbuerger, Marko; Schjelderup, Guttorm (Discussion paper, Working paper, 2011-02)
    • Merger negotiations with stock market feedback 

      Betton, Sandra; Eckbo, B. Espen; Thompson, Rex; Thorburn, Karin S. (Discussion paper, Working paper, 2011-05)
    • Mergers and partial ownership 

      Foros, Øystein; Kind, Hans Jarle; Shaffer, Greg (Discussion paper, Working paper, 2010-12)
      In this paper we compare the profitability of a merger between two firms (one firm fully acquires another) and the profitability of a partial ownership arrangement between the same two firms in which the acquiring firm ...
    • A method for numerical and analytical solutions to a class of nonlinear optimal control problems 

      Sandal, Leif Kristoffer; Berge, Gerhard (Discussion paper, Working paper, 2004-02)
      Dynamic optimization problems cover a great class of problems in theoretical and applied economics and technology. In this account the exploitation of a general renewable capital stock is modeled through an alternative ...