despite controversy, the contingent valuation method (cvm) is widely used for non-market valuation. among elicitation methods of cvm, the dichotomous choice (dc) has been paid attention. there are two types of dc methods: single-bounded dc (sbdc) and double-bounded dc (dbdc). dbdc is more efficient than sbdc. many of cvm studies in iran used dbdc but data analyses were done by logit model; that...

The 39 experiments reported here examine the impact on trading profits and on market performance of awarding special trading privileges to some traders and not others. In call market experiments, the last-mover and orderflow access privileges are both modestly prof? itable and neither impairs market performance. In continuous market experiments, quicker access to orderflow information is quite ...

This paper reviews the economic models most commonly applied to estimate the value of intellectual property and other forms of intangible assets. It highlights the key strengths and weaknesses of these models. One of the apparent weaknesses of the most commonly used valuation models is the failure to incorporate legal rights into their calculations. Creation, maintenance, and enforcement of leg...

This study examines whether investors incorporate the effect of employee and director bonuses into firm market valuation for a sample of 191 profitable high-tech firms during 2001-2007 in Taiwan. We use the Ohlson (1995) equity valuation model, and compare difference dilution ratio model’s explanation power. We find a negative correlation between the value of CSBs and Tobin’s Q but no significa...

A collocation method based on modified cubic B-spline functions has been developed for the valuation of European, American and barrier options of a single asset. The new approach contains discretization of temporal derivative using finite difference approximation of and approximating the option price with the modified B-spline functions. Stability of this method has been discussed and it is sho...