Blar i Discussion papers (FOR) på utgivelsesdato
Viser treff 61-80 av 564
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A microeconomic approach to distance-deterrence functions in modeling journeys to work
(Discussion paper, Working paper, 2001)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 ... -
Area yield futures and options : risk management and hedging
(Discussion paper, Working paper, 2001)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 ... -
Internal pricing in supply chains
(Discussion paper, Working paper, 2001)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 ... -
Data assimilation into biomass dynamics models : a Monte Carlo simulation experiment
(Discussion paper, Working paper, 2001)In this paper, we use a variational data assimilation method to fit biomass dynamics models to simulated data. The method is the variational adjoint technique in which a cost function measuring the distance between the ... -
Public Stackelberg leadership in a mixed oligopoly with foreign firms
(Discussion paper, Working paper, 2001)This is the first paper to consider a mixed oligopoly in which a public Stackelberg leader competes with both domestic and foreign private firms. The welfare maximizing leader is shown to always produce less than under ... -
Some comments on free-riding in leontief partnerships
(Discussion paper, Working paper, 2001)Holmström (1982) showed that free-riding is inevitable in partnerships where inputs are substitutes. Legros & Matthews (1993) and Vislie (1994) showed that when inputs are strict complements (Leontief technology), free-riding ... -
Status concerns and the organization of work
(Discussion paper, Working paper, 2001-01)We study the effects of local status, where workers compare their wage to the wage of other workers within the same firm. We assume a competitive labor market with unobservable effort, where firms condition wages on output ... -
Bayesian estimation of NIG-parameters by Markov chain Monte Carlo methods
(Discussion paper, Working paper, 2001-01)The Normal Inverse Gaussian (NIG) distribution recently introduced by Barndorff-Nielsen (1997) is a promising alternative for modelling financial data exhibiting skewness and fat tails. In this paper we explore the Bayesian ... -
Implications of a nested stochastic/deterministic bio-economic model for a pelagic fishery
(Discussion paper, Working paper, 2001-03)Use is made of an economically optimal feedback rule to determine optimal levels of exploitation of a pelagic fish species. Data from the southern bluefin tuna fishery for the years 1960-1996 are utilized to apply this ... -
Country risk, country risk indices, and valuation of FDI : a real options approach
(Discussion paper, Working paper, 2001-03)Country risk and in particular political risk may constitute a large part of the total risk investors face when investing in emerging markets. It is not a straightforward task to quantify and include these types of risks ... -
Fish wars on the high seas : a straddling stock competition model
(Discussion paper, Working paper, 2001-04)The post World War II era saw the development of powerful self-contained fishing fleets, so-called distant-water fleets (DWFs), which roamed the worlds oceans, seeking out rich harvesting targets wherever they might be ... -
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 ... -
Spillovers and international competition for investments
(Discussion paper, Working paper, 2001-05)Two jurisdictions compete to attract shares of the investment budget of a large multinational enterprise, whose investments confer positive spillovers on national firms. The firm has private information about its efficiency ... -
Free-entry equilibrium in a market for certifiers
(Discussion paper, Working paper, 2001-05)The role of certifiers is to test products for quality, and to communicate the test results to the market. We construct a free-entry model of certification, where each certifier chooses a test standard and a price for ... -
Pricing of rate of return guarantees on multi-period assets
(Discussion paper, Working paper, 2001-06)The basis for this paper is the pricing of multi-period rate of return guarantees. These guarantees can typically be found in life insurance and pension contracts. We derive closed form solutions, expressed by the cumulative ... -
A simple approach to global optimal feedback solutions : with emphasize on certain management problems in economics
(Discussion paper, Working paper, 2001-06)Dynamic optimization problems covers a great class of problems in management science and technology. The classical problem formulations being the variational approach as in classical mechanics, like Hamilton's principle ... -
Optimal consumption and portfolio in a jump diffusion market
(Discussion paper, Working paper, 2001-06)We consider the problem of optimal consumption and portfolio in a jump diffusion market consisting of a bank account and a stock, whose price is modeled by a geometric Lévy process. We show that in the absence of transaction ... -
Stochastic programming, cooperation, and risk exchange
(Discussion paper, Working paper, 2001-08)Stochastic programming offers handy instruments to analyze exchange of goods and risks. Absent efficient markets for some of those items, such programming may imitate or synthesize market-like transfers among concerned ... -
Forward curve dynamics in the Nordic electricity market
(Discussion paper, Working paper, 2001-10)The purpose of this paper is to investigate the forward curve dynamics in an electricity market. Six years of price data on futures and forward contracts traded in the Nordic electricity market are analysed. For the forward ... -
Representation of preferences á la Savage with a general probability measure
(Discussion paper, Working paper, 2001-10)This paper addresses two weaknesses of the subjective expected utility representation of Savage: The first is that the resulting subjective probability measure P is atomless only, the second is that P is only finitely ...