We examine the Fisher market model when buyers, as well as sellers, have an intrinsic value for money. We show that when the buyers have oligopsonistic power they are highly incentivized to act strategically with their monetary reports, as their potential gains are unbounded. This is in contrast to the bounded gains that have been shown when agents strategically report utilities [5]. Our main f...

User community plays an important role in online trading platforms. It provides users a place to communicate, to solve problems and to exchange information with each other on an online trading platform which faced a bilateral market —seller and buyer participants. Beginning with the incentive strategy, this paper studies the influence of material and spiritual incentive strategies on online tra...

The possibility that the collective dynamics of a set of stocks could lead to a specific basket violating the efficient market hypothesis is investigated. Precisely, we show that it is systematically possible to form a basket with a non-trivial autocorrelation structure when the examined time scales are of the order of tens of seconds. Moreover, we show that this situation is persistent enough ...

The service industry and business-to-business companies have remained at the forefront of studies into internal marketing due to the close contact between employees and customers in such companies. Marketers and industry experts have shown particular interest to the supermarket sector over the past years due to the varied fluctuations in performance that have been reported. Consumers have negli...

The surge of trading volume in caps and swaptions urged the need for a theoretical justification for the related market formulas, which were derived by using the Black (1976) model in a seemingly unsound manner. A consistent theoretical framework for such formulas was provided in a number of papers in the mid 90’s: Brace, Gatarek and Musiela (1997), Miltersen, Sandmann and Sondermann (1997) and...

The paper assesses the welfare effects of different ways of allocating input price risk between a regulated utility, consumers and speculators in a futures market. A risk-averse utility setting a fixed retail price requires a price that exceeds expected marginal cost, unless an efficient futures market is available. The firm bears no risk when input price risk is transferred to consumers, but c...

Most existing portfolio choice models ignore the prevalent periodic market closure and the fact that market volatility is significantly higher during trading periods. We find that market closure and the volatility difference across trading and nontrading periods significantly change optimal trading strategies. In addition, we numerically demonstrate that transaction costs can have a first order...

s: Business to business marketing primarily refers to trade dealings between two businesses. This business can be between manufacturers and wholesalers or between wholesaler and retailers. Business-to-business marketing is currently one of the fastest-growing areas of marketing in Asia pacific region as well as all over the world. As technology brings more businesses together, companies are beg...

The importance of maintaining sufficient liquidity in financial markets is emphasised strongly in the academic literature. During the 1990s the United Kingdom monetary authorities introduced a number of structural reforms in the government bond market, aimed at improving secondary market liquidity. In this paper we examine the impact of the reforms by attempting to ascertain if liquidity levels...

T paper examines how different types of interactions with U.S. markets by non-U.S. firms are associated with higher levels of CEO pay, greater emphasis on incentive-based compensation, and smaller pay gaps with U.S. firms. Using a sample of CEOs of UK firms and using both broad cross-sectional and narrow eventwindow tests, we find that capital market relationship in the form of a U.S. exchange ...