Publications des institutions partenaires
An economic perspective on transfer pricing
This chapter reviews the recent economic literature on transfer pricing. As a starting point, we take Hirshleifer's transfer pricing model and discuss the basic structure of the most widely used model extensions. We review transfer pricing models with asymmetric information, transfer pricing models in incomplete contracting settings, strategic transfer pricing models, and…
Institution partenaire
English / 01/01/2007
An economic perspective on transfer pricing
This chapter reviews the recent economic literature on transfer pricing. As a starting point, we take Hirshleifer's transfer pricing model and discuss the basic structure of the most widely used model extensions. We review transfer pricing models with asymmetric information, transfer pricing models in incomplete contracting settings, strategic transfer pricing models, and…
Institution partenaire
English / 01/01/2007
An assortment-wide decision-support system for dynamic pricing and promotion planning in DIY retailing
The main objective of this report is to describe a decision-support system for dynamic retail pricing and pro-motion planning. Our weekly demand model incorporates price, reference price effects, seasonality, article availability information, features, and discounts. Building on previous research, we quantify demand interdependencies and integrate the resulting profit-lifting effects…
Institution partenaire
English / 01/01/2007
An encompassing view on markdown pricing strategies: an analysis of the austrian mobile phone market
Fierce competition and rapid technological progress have considerably reduced the life cycle length for mobile phones in the last decade. Once a new mobile phone is launched, providers on the market under consideration practice a markdown strategy. Profits of the providers are generated mainly via the monthly (base plus variable) fees accruing during contract duration whereas the…
Institution partenaire
English / 01/01/2007
MBA Programme unter der Lupe – Reputationmassgebend
Institution partenaire
English / 14/10/2006
Making prospect theory fit for finance
The prospect theory of Kahneman and Tversky (in Econometrica 47(2), 263–291, 1979) and the cumulative prospect theory of Tversky and Kahneman (in J. Risk uncertainty 5, 297–323, 1992) are descriptive models for decision making that summarize several violations of the expected utility theory. This paper gives a survey of applications of prospect theory to the portfolio choice problem…
Institution partenaire
English / 01/09/2006
Pareto-Improving Social Security Reform When Financial Markets Are Incomplete!?
This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfectly correlated a system that endows retired households with claims to labor income enhances the sharing of aggregate risk between…
Institution partenaire
English / 01/06/2006
Knowledge creation in new product development projects
In this article, the authors develop and test hypotheses relating the four knowledge creation modes of socialization, externalization, combination, and internalization as performed during the concept and the development phases of new product development projects to new product success. Using data from 94 new product development projects, they find that socialization during the…
Institution partenaire
English / 01/04/2006
American Parisian Options
In this article, we describe the various sorts of American Parisian options and propose valuation formulae. Although there is no closed-form valuation for these products in the non-perpetual case, we have been able to reformulate their price as a function of the exercise frontier. In the perpetual case, closed-form solutions or approximations are obtained by relying on excursion…
Institution partenaire
English / 01/01/2006
Is public health insurance an appropriate instrument for redistribution?
The share of the public sector in health insurance provision
varies enormously from country to country. It is larger in more redistributive countries. We provide a possible theoretical explanation for these facts: a public health insurance system, fi nanced by taxes, can be an effi cient means of redistribution, complementary to income taxation. This relies on the assumption of…
Institution partenaire
English / 01/01/2006
Risk aversion and planning horizons
A number of empirical studies seem to reject the additive separability of preferences that is assumed in most theoretical models of the life cycle. We show that, when additive separability is abandoned and interactions between consumptions at different dates are taken into account, an interesting relation emerges between risk aversion and length of the planning horizon. Specifically…
Institution partenaire
English / 01/01/2006
The value of tax shields IS equal to the present value of tax shields
Institution partenaire
English / 01/01/2006
Prevention Is Better than Cure: The Role of IPO Syndicates in Precluding Information Acquisition
We treat information acquisition by potential investors in initial public offerings as endogenous. With endogenous information, the critical question is why underwriters would allow investors to spend resources acquiring superior information intended solely to effect a wealth transfer. We show that an investment banking syndicate is an institutional arrangement designed to avoid such…
Institution partenaire
English / 01/01/2006
International Stock Portfolios and Optimal Currency Hedging with Regime Switching
Institution partenaire
English / 01/01/2006
Quantitative Hedge Fund Selection for Fund of Funds
Institution partenaire
English / 01/01/2006
Business Dependencies in Credit Risk Portfolios
Institution partenaire
English / 01/01/2006
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