Browsing Discussion papers (FOR) by Title
Now showing items 534-553 of 564
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Unraveling Coordination Problems
(Discussion paper;20/23, Working paper, 2023-11-09)The interplay between strategic beliefs and policy complicates policy design in coordination games. To untangle this relationship, we study policy design in the context of equilibrium selection. We characterize the unique ... -
Using bank mergers and acquisitions to understand lending relationships
(Discussion paper;2011:13, Working paper, 2011-08)We study how firm-bank lending relationships affect firms' access to and terms of credit. We use bank mergers and acquisitions (M&As) as exogenous events that affect lending relationships. Bank M&As lead to organisational ... -
Using lagrangean relaxation to minimize the (weighted) number of late jobs on a single machine
(Discussion paper, Working paper, 1999-06)This paper tackles the general single machine scheduling problem, where jobs have different release and due dates and the objective is to minimize the weighted number of late jobs. The notion of master sequence is first ... -
Using machine learning to predict patent lawsuits
(Discussion paper;6/21, Working paper, 2021-06-22)We use machine learning methods to predict which patents end up at court using the population of US patents granted between 2002 and 2005. We analyze the role of the different dimensions of an empirical analysis for the ... -
Using option pricing theory to infer about equity premiums
(Discussion paper, Working paper, 2005-11)In this paper we make use of option pricing theory to infer about historical equity premiums. This we do by comparing the prices of an American perpetual put option computed using two different models: The first is the ... -
Valuation and risk management in the Norwegian electricity market
(Discussion paper, Working paper, 2000)The purpose of this paper is two-fold: Firstly, we analyze option value approximation of traded options in the presence of a volatility term structure. The options are identified as: "European" (written on the forward price ... -
Valuation of irreversible investments : private information about the investment cost
(Discussion paper, Working paper, 1999-11)This article examines dynamic investment decisions when there is an agency problem. A principal delegates the decision of an investment strategy of a project to an agent. The agent has private information about the investment ... -
The value of tax shields IS equal to the present value of tax shields
(Discussion paper, Working paper, 2005-07)Fernandez (2004b) argues that the present value effect of the tax saving on debt cannot be calculated as simply the present value of the tax shields associated with interest. This contradicts standard results in the ... -
The value relevance of financial reporting on the Oslo Stock Exchange over the period 1964-2003
(Discussion paper, Working paper, 2005)This article focuses on the value relevance of financial statements in Norway over the 40-year period from 1964 to 2003. Since Norwegian generally accepted accounting principles are based on an earnings-oriented conceptual ... -
The value-relevance of adopting IFRS : evidence from 145 NGAAP restatements
(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
(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
(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
(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
(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
(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
(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
(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
(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
(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?
(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 ...