منابع مشابه
A Prediction Market for Toxic Assets Prices∗
We propose the development of a prediction market for forecasting prices for “toxic assets” to be transferred from Irish banks to the National Asset Management Agency (NAMA). Such a market allows market participants to assume a stake in a security whose value is tied to a future event. We propose that securities are created whose value hinges on the transfer amount paid for loans from NAMA to a...
متن کاملA Prediction Market for Toxic Assets
We propose the development of a prediction market to provide a form of collective intelligence for forecasting prices for “toxic assets” to be transferred from Irish banks to the National Asset Management Agency. Such a market allows participants to assume a stake in a security whose value is tied to a future event. We propose that securities are created whose value hinges on the transfer amoun...
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A growing body of research offers evidence that CEOs and other top executives show large and persistent person-specific heterogeneity in their management styles. Bertrand and Schoar (2003) document that such person-specific styles explain a substantial fraction of the variation in firms’ capital structures, investment decisions and organizational structures. The idea that CEOs greatly differ in...
متن کاملMarket-Based Assets and Shareholder Value: A Framework for Analysis
The authors develop a conceptua] framework of the marketing-finance interface and discuss its implications for the theory and practice of marketing. The framework proposes that marketing is concerned with the task of developing and managing market-based assets, or assets that arise from the commingling of the firm with entities in its external environment. Examples of market-based assets includ...
متن کاملHow Much Irrationality Does the Market Permit?
This article asks whether competition can ameliorate the consequences of cognitive error. Consumers differ cognitively, some being more prone to err (the “naive”) than others (the “sophisticated”). Competition among firms is analyzed with a search equilibrium model. Firms offer an exploitative contract or a naive contract to a consumer population partitioned in two ways: some consumers are soph...
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ژورنال
عنوان ژورنال: Journal of Financial and Quantitative Analysis
سال: 2014
ISSN: 0022-1090,1756-6916
DOI: 10.1017/s0022109014000222