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Ag Land Contracts: Risk or Transac3on Costs?
Under current copyright law, Internet Service Providers (ISPs) can be found liable for the traffic on the websites that they host. While the ISPs themselves are not undertaking acts that infringe copy...
We develop a political economy model of trade agreements following along the line of Grossman and Helpman (1995a) yet incorporating contracting costs, uncertainty and multiple policy instruments. We s...
Abstract: We analyze the counterparty risk embedded in CDS contracts, in presence of a bilateral margin agreement. First, we investigate the pricing of collateralized counterparty risk and we derive t...
We study historical calibration of one- and two-factor models that are known to describe relatively well the dynamics of energy underlyings such as spot and index natural gas or oil prices at differe...
We show that, in an efficient market, a zero-cost contract featuring a unilateral right to cancel has to charge a fee for a cancellation, and at the same time it is due to bias the market price in fav...
We observe that economic restructuring is significantly changing organizational governance. On the one hand, we witness an increase in mergers & acquisitions, which substitutes markets for hierarchies...
Communication by mail between the “mother” country and overseas colonies was a challenge for many European nations.When the development of steam power in the 1830s empowered a regular maritime postal ...
The implementation of China's economic reforms, beginning in the early 80's, and the formal establishment of a "Socialist Market Economy" in the following decade, stimulated substantial changes and im...

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