منابع مشابه
How many tastes are there?
How many basic tastes are there? Most people list four: sweet, sour, salty and bitter. Those with a background in the chemosensory sciences usually add a fifth, umami. But why stop there? There is growing evidence that there are more—perhaps many more. The idea that there are four basic tastes goes back at least as far as ancient Greece, so if there are more than four basic tastes why haven't t...
متن کاملOptimal consumption when capital markets are imperfect *
Capital market imperfections are widely believed to explain why consumption deviates from the martingale implications of the REPIH. However, empirical modelling and theoretical analysis of consumption under capital market imperfections is hindered by the absence of any tractable theoretical model. By modelling capital market imperfections as consumers facing an upward sloping interest rate sche...
متن کاملWhen are Static Superhedging Strategies Optimal?
This paper deals with the superhedging of derivatives on incomplete markets, i.e. with portfolio strategies which generate payoffs at least as high as that of a given contingent claim. The simplest solution to this problem is in many cases a static superhedge, i.e. a buy-and-hold strategy generating an affine-linear payoff. We study whether a superhedge can be achieved with less initial capital...
متن کاملOptimal plaintiff incentives when courts are imperfect
The incentives of a plaintiff in a lawsuit are affected by a variety of legal rules. One leading example is the proportion of the fine imposed on the defendant that is awarded to the plaintiff. Another is the identity of the plaintiff himself: private litigants are motivated by the prospect of receiving damages, while government employed plaintiffs (such as public prosecutors and employees of r...
متن کاملWhen are Marginal Congestion Tolls Optimal?
Marginal tolls are known to provide the existence of an optimal equilibrium in atomic congestion games, but unlike nonatomic games, there might be additional equilibria even with linear cost functions on resources. In this paper, we show that in games with a large number of players, all equilibria are near-optimal.
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 1999
ISSN: 0165-1889
DOI: 10.1016/s0165-1889(98)00028-1