Deposited grants buy time in Brazil

Explorer To Buy or Not to Buy ?

This paper examines the interaction of law and policy making on prostitution, with that of BDSM (bondage and discipline, sadism and masochism). Recent policy and legal shifts in the UK mark out prostitutes as vulnerable and in need of ‘rescue’. BDSM that amounts to actual bodily harm is unlawful in the UK, and calls to decriminalise it are often met with fears that participants will be left vul...

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Pricing Buy-ins and Buy-outs

Pension buy-ins and buy-outs have become an important aspect of managing pension risk in recent years. As a step toward understanding these pension de-risking instruments, we develop models for pricing investment risk and longevity risk embedded in pension buy-ins and buy-outs. We also bring a contingent-claims framework to price credit risk of buy-in bulk annuities. Overall, our model can be u...

Last time buy and repair decisions for spare parts

Original Equipment Manufacturers (OEM’s) of advanced capital goods often offer service contracts for system support to their customers, for which spare parts are needed. Due to technological changes, suppliers of spare parts may stop production at some point in time. As a reaction to that decision, an OEM may place a so-called Last Time Buy (LTB) order to cover demand for spare parts during the...

Equity Concerns are Narrowly Framed: Why Money Cannot Buy Time

What are individuals’ preferences over the payoffs of others? We show that individuals aim to achieve equity among other agents but that they narrowly bracket their equity concerns — they equalize time budgets or monetary budgets at the expense of equalizing overall budgets. Indeed, individuals believe that achieving equity within narrow brackets is more socially appropriate than achieving over...