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The Optimal Consumption of a Depletable Natural Resource: An Elaboration, Correction and Extension
Natural Resource Elaboration
2015/9/18
Weinstein and Zeckhauser^ have shown that the competitive rate
of extraction of a resource of known extent is socially optimal and the
monopolistic rate of extraction generally suhoptimal, hut that ...
An extension of Davis and Lo's contagion model
credit risk contagion model dependent defaults default distribution exchangeability
2010/10/29
firms which may default directly or may be infected by other defaulting firms (a domino effect being also possible). The spontaneous default without external influence and the infections are described...