We propose a game-theoretic model in which each firm chooses the level of economic activity on the basis of its own financial conditions and of the financial conditions of rival firms. The model generates the laws of motion of firms’ net worth which may determine convergence to a symmetric steady state or more complex dynamical behaviors, periodic or chaotic, depending on the values of the para...

Although the practical importance of investment analysis in long-term energy investments is well understood, choosing the proper method has always been a dilemma. In this regard, classic evaluation methods, with a history of almost a century, are mostly favored, but using them in the valuation of long-lasting energy projects has particular shortcomings, nevertheless. The drawbacks mainly stem f...

This paper focuses on three issues. First, it analyses the increasing inequality of wealth in Sweden in terms of percentile age and birth cohort differences. Second, it discusses mobility of wealth as a function of age, length of the transition period, the magnitude of quantile differences, and a time trend. The third theme is the relative importance of bequests. Estimates are given of the ir s...

Owner-managers of private companies are often highly underdiversified. We investigate the consequences of underdiversification at the company level. There is a strong positive relationship between underdiversification, measured as the share of personal net worth invested in the company, and profitability, measured as the return on equity. The analysis identifies two causes for this underdiversi...

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