We propose a unified model of limited market integration, asset-price determination, leveraging, and contagion. Investors and firms are located on a circle, and access to markets involves participation costs that increase with distance. Due to a complementarity between participation and leverage decisions, the market equilibrium may exhibit diverse leverage and participation choices across inve...

BACKGROUND Lingula is a tongue-like flap of bone that overlaps the mandibular foramen antero-medially and location is clinically significant in oral and maxillofacial surgeries. The aim of this study was to assess the shape and precise location of lingula using cone-beam computed tomography (CBCT). MATERIALS AND METHODS In this study, 3-dimensional images provided by CBCT of 63 patients (28 f...

Copyright © 2014, Iranian Society of Regional Anesthesia and Pain Medicine (ISRAPM); Published by Kowsar Corp. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. There are many references in ancient Iranian literature on...

Traditional economic analysis of markets with asymmetric information assumes that the uninformed agents account for incentives of the informed agents to distort information. We analyze whether investors in the stock market are able to account for such incentive distortions. Security analysts provide investors with information about investment opportunities by issuing buy and sell recommendation...

Theory predicts that attribution bias creates overconfident traders and thus causes excessive trading in the market. This paper tests this prediction by comparing the trading behavior of individual investors in different market conditions. In a bull market, investors suffer more from attribution bias and therefore should be more overconfident and trade more excessively. Using the trading record...

The tension between two margins of information acquisition is studied in a canonical two-period model of portfolio choice. At the intensive margin, an investor chooses the amount of information. At the extensive margin, investors subscribe to the information source. Only if the number of informed investors at the extensive margin is sufficiently small does acquisition of additional information ...