How the phenomenon is explained that many works start with one price and end with another? Can the initial price of a construction contract definitely be fixed and unchanged? The objective of this article is to explain the ...

In this paper we implement dynamic term structure models that adopt bonds and Asian options in the estimation process. The goal is to analyse the pricing and hedging implications of term structure movements when options ...

This paper analyzes general equilibrium models with finite heterogeneous agents who anticipate future prices through a price expectation function with or without accuracy. I show the existence of a recursive equilibrium ...

This paper compares the welfare effects of ad valorem and fixed-price distortions for an open economy. In the case of export protection, domestic factor growth is much more likely to be immiserizing when fixed-price ...

This paper extends the oligopolistic model of price competition to environments with multiple goods, heterogeneous consumers, and arbitrary continuous cost functions. A Nash equilibrium in mixed strategies with an endogenous ...

Estimating the parameters of the instantaneous spot interest rate process is of crucial importance for pricing fixed income derivative securities. This paper presents an estimation for the parameters of the Gaussian interest ...