Constrained efficiency versus unanimity in incomplete markets
Sign Up to like & getrecommendations! Published in 2017 at "Economic Theory"
DOI: 10.1007/s00199-016-0968-1
Abstract: In production economies with incomplete markets, shareholders disagree about optimal production plans, and there is no natural objective of the firm. From a normative perspective, the firm should choose plans that lead to a constrained… read more here.
Keywords: versus unanimity; constrained efficiency; incomplete markets; production ... See more keywords
Investment with incomplete markets for risk: The need for long-term contracts☆
Sign Up to like & getrecommendations! Published in 2017 at "Energy Policy"
DOI: 10.1016/j.enpol.2017.01.029
Abstract: Barring subsidies, investment in the power generation sector has come to an almost complete halt in the restructured European power sector. Market and regulatory failures such as the well known missing money (see Joskow, (2006))… read more here.
Keywords: risk trading; investment; incomplete markets; market ... See more keywords
Incomplete markets and parental investments in children
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DOI: 10.1016/j.red.2021.02.012
Abstract: Abstract The effect of incomplete markets on parental investments is investigated. Uninsured risk and credit constraints can distort the timing of parental investments, causing them to be delayed relative to what would occur under full-insurance.… read more here.
Keywords: parental investments; investments children; markets parental; incomplete markets ... See more keywords
Robust hedging in incomplete markets
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DOI: 10.1017/s1474747218000069
Abstract: Abstract We considered a pension fund that needs to hedge uncertain long-term liabilities. We modeled the pension fund as a robust investor facing an incomplete market and fearing model uncertainty for the evolution of its… read more here.
Keywords: robust hedging; pension; incomplete markets; finance ... See more keywords