Noisy information, distance and law of one price dynamics across US cities

Relative House Price Dynamics across Euro Area and Us Cities Convergence or Divergence?

1 The Law of One Price , Costly Information and the Law of Price Convergence 1

Agreements for the exchange of commodities consist of explicit, objectively measured contractual components enforced by the state, and implicit, subjective components enforced by sellers’ reputation. People are better informed about the former than about the latter. I expect prices to diverge because the market does not fully adjust for differentials due to changes in the reputational component...

Professional Gender Gaps Across US Cities

Gender imbalances in work environments have been a longstanding concern. Identifying the existence of such imbalances is key to designing policies to help overcome them. In this work, we study gender trends in employment across various dimensions in the United States. This is done by analyzing anonymous, aggregate statistics that were extracted from LinkedIn’s advertising platform. The data con...

The Law of One Price and the Cointegration of Meat Price in The Global Market: The Case of Iran’s Market

In view of the importance of the meat imports and the exports of meat in Iran, this study focuses on the status of the global market of meat imports the unit price test in these markets between the years 1961 and 2011 using the market cointegration approach. The results of this study are indicative of prices co-integration in the international market of meat as well as among such major importer...

On the law of one price

We consider the standard discrete-time model of a frictionless financial market and show that the law of one price holds if and only if there exists a martingale density process with strictly positive initial value. In contrast to the classical no-arbitrage criteria, this density process may change its sign. We also give an application to the CAPM.