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Sanford Jay Grossman

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Sanford Grossman, 1989. "The Informational Role of Prices," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262572141, December.

    Mentioned in:

    1. Centralized vs. Decentralized Social Welfare Maximizers
      by Eric Falkenstein in Falkenblog on 2018-05-18 01:06:00

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Grossman, Sanford J. & Hart, Oliver D., 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Scholarly Articles 3450060, Harvard University Department of Economics.

    Mentioned in:

    1. Гроссман, Сэнфорд in Wikipedia (Russian)
    2. Харт, Оливер in Wikipedia (Russian)
  2. Author Profile
    1. Sanford J. Grossman in Wikipedia (German)

Working papers

  1. Sanford J Grossman & Guy Laroque, 2003. "Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods," Levine's Working Paper Archive 618897000000000803, David K. Levine.

    Cited by:

    1. Hassler, John A. A., 1996. "Variations in risk and fluctuations in demand: A theoretical model," Journal of Economic Dynamics and Control, Elsevier, vol. 20(6-7), pages 1115-1143.
    2. Heaton, John & Lucas, Deborah, 1995. "The importance of investor heterogeneity and financial market imperfections for the behavior of asset prices," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 42(1), pages 1-32, June.
    3. Ran Sun Lyng & Jie Zhou, 2019. "Household Portfolio Choice Before and After a House Purchase," Economics Working Papers 2019-01, Department of Economics and Business Economics, Aarhus University.
    4. Marjorie Flavin & Shinobu Nakagawa, 2004. "A Model of Housing in the Presence of Adjustment Costs: A Structural Interpretation of Habit Persistence," NBER Working Papers 10458, National Bureau of Economic Research, Inc.
    5. Kalyvitis Sarantis & Panopoulou Ekaterini, 2013. "Estimating C-CAPM and the equity premium over the frequency domain," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 17(5), pages 551-571, December.
    6. Bar-Ilan, Avner & Perry, David & Stadje, Wolfgang, 2004. "A generalized impulse control model of cash management," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1013-1033, March.
    7. Nikola Kojucharov & Clyde F. Martin & Robert F. Martin & Lili Xu, 2009. "The subprime mortgage crisis: irrational exuberance or rational error?," Proceedings, Federal Reserve Bank of San Francisco, issue Jan.
    8. Nathaniel O. Keohane & Benjamin Van Roy & Richard J. Zeckhauser, 2000. "Controlling Stocks and Flows to Promote Quality: The Environment, With Applications to Physical and Human Capital," NBER Working Papers 7727, National Bureau of Economic Research, Inc.
    9. Fernando Alvarez & Francesco Lippi, 2013. "The demand of liquid assets with uncertain lumpy expenditures," EIEF Working Papers Series 1307, Einaudi Institute for Economics and Finance (EIEF), revised Mar 2013.
    10. Jonathan A. Parker, 2001. "The Consumption Risk of the Stock Market," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(2), pages 279-348.
    11. Choi, James J. & Haisley, Emily & Kurkoski, Jennifer & Massey, Cade, 2017. "Small cues change savings choices," Journal of Economic Behavior & Organization, Elsevier, vol. 142(C), pages 378-395.
    12. Maj-Britt Nordfang & Mogens Steffensen, 2017. "Portfolio Optimization and Mortgage Choice," JRFM, MDPI, vol. 10(1), pages 1-21, January.
    13. Mork, Knut Anton & Harang, Fabian Andsem & Trønnes, Haakon Andreas & Bjerketvedt, Vegard Skonseng, 2023. "Dynamic spending and portfolio decisions with a soft social norm," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    14. Jiri Slacalek, 2006. "What Drives Personal Consumption?: The Role of Housing and Financial Wealth," Discussion Papers of DIW Berlin 647, DIW Berlin, German Institute for Economic Research.
    15. Baker, Scott R. & Johnson, Stephanie & Kueng, Lorenz, 2024. "Financial returns to household inventory management," Journal of Financial Economics, Elsevier, vol. 151(C).
    16. Christopher L. House & Jing Zhang, 2012. "Layoffs, Lemons and Temps," NBER Working Papers 17962, National Bureau of Economic Research, Inc.
    17. pakos, michal, 2011. "Estimating intertemporal and intratemporal substitutions when both income and substitution effects are present: the role of durable goods," MPRA Paper 32453, University Library of Munich, Germany.
    18. Russel Cooper & Kieran P. Donaghy, 2000. "Risk and Growth: Theoretical Relationships and Preliminary Estimates for South Africa," Econometric Society World Congress 2000 Contributed Papers 0527, Econometric Society.
    19. Cho, Sang-Wook (Stanley), 2010. "Household wealth accumulation and portfolio choices in Korea," Journal of Housing Economics, Elsevier, vol. 19(1), pages 13-25, March.
    20. Veronica Guerrieri & Guido Lorenzoni, 2011. "Credit Crises, Precautionary Savings, and the Liquidity Trap," NBER Working Papers 17583, National Bureau of Economic Research, Inc.
    21. Ozbek, Kemal, 2023. "Adaptive risk assessments," Journal of Mathematical Economics, Elsevier, vol. 106(C).
    22. Enrique López Enciso & Andrés Salamanca Lugo, 2009. "El efecto riqueza de la vivienda en Colombia," Borradores de Economia 551, Banco de la Republica de Colombia.
    23. Andrew Ang & Dimitris Papanikolaou & Mark M. Westerfield, 2014. "Portfolio Choice with Illiquid Assets," Management Science, INFORMS, vol. 60(11), pages 2737-2761, November.
    24. Qize Li & Dirk Brounen & Jianjun Li & Xu Wei, 2022. "The Effect of Housing Wealth on Household Portfolio Choice," Annals of Economics and Finance, Society for AEF, vol. 23(2), pages 253-277, November.
    25. Sven Rady & François Ortalo-Magné, 2001. "Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints," CESifo Working Paper Series 470, CESifo.
    26. Otto Van Hemert, 2010. "Household Interest Rate Risk Management," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(3), pages 467-505, September.
    27. Caballero, Ricardo J. & Engel, Eduardo M.R.A., 2004. "Three Strikes and You're Out: Reply to Cooper and Willis," Center Discussion Papers 28498, Yale University, Economic Growth Center.
    28. Thomas Michielsen & Remco Mocking & Sander van Veldhuizen, 2015. "Home Ownership and Household Portfolio Choice," CPB Discussion Paper 318, CPB Netherlands Bureau for Economic Policy Analysis.
    29. Li Qian, 2020. "Dynamic effects of consumption tax reforms with durable consumption," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-33, June.
    30. Tracey Seslen & William C. Wheaton & Henry O. Pollakowksi, 2005. "The Investment Performance of Housing and "Hedonic" Spatial Equilibrium," Working Paper 8583, USC Lusk Center for Real Estate.
    31. Funke, Michael & Kirkby, Robert & Mihaylovski, Petar, 2018. "House prices and macroprudential policy in an estimated DSGE model of New Zealand," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 152-171.
    32. Matthias Kahl & Jun Liu & Francis A. Longstaff, 2002. "Paper millionaires: How valuable is stock to a stockholder who is restricted from selling it?," NBER Working Papers 8969, National Bureau of Economic Research, Inc.
    33. Gautier, Erwan & Le Bihan, Hervé, 2011. "Time-varying (S, s) band models: Properties and interpretation," Journal of Economic Dynamics and Control, Elsevier, vol. 35(3), pages 394-412, March.
    34. Jan Rouwendal, 2009. "Housing Wealth and Household Portfolios in an Ageing Society," De Economist, Springer, vol. 157(1), pages 1-48, March.
    35. Bank, Peter & Riedel, Frank, 2003. "Optimal Dynamic Choice of Durable and Perishable Goods," Bonn Econ Discussion Papers 29/2003, University of Bonn, Bonn Graduate School of Economics (BGSE).
    36. Zanetti, Francesco, 2014. "Housing and relative risk aversion," Economics Letters, Elsevier, vol. 123(1), pages 23-25.
    37. Ricardo J. Caballero & Eduardo M.R.A. Engel, 2004. "A Comment on the Economics of Labor Adjustment: Mind the Gap: Reply," American Economic Review, American Economic Association, vol. 94(4), pages 1238-1244, September.
    38. Fang Yang & Wenli Li, 2009. "Deconstructing Life-cycle Consumption with Home Production," 2009 Meeting Papers 670, Society for Economic Dynamics.
    39. Jerome Adda & Russell Cooper, 1997. "Balladurette and Juppette: A Discrete Analysis of Scrapping Subsidies," NBER Working Papers 6048, National Bureau of Economic Research, Inc.
    40. Felici, Marco & Fuerst, Franz, 2023. "The heterogeneous relationship of owner-occupied and investment property with household portfolio choice," Journal of Housing Economics, Elsevier, vol. 62(C).
    41. In Ho Song, 2013. "House Prices and Monetary Policy: Focus on The Elasticity of Intra-Temporal Substitution between Housing and Consumption," 2013 Meeting Papers 747, Society for Economic Dynamics.
    42. Bergeaud, Antonin & Ray, Simon, 2021. "Adjustment costs and factor demand: new evidence from firms' real estate," LSE Research Online Documents on Economics 114481, London School of Economics and Political Science, LSE Library.
    43. Guiso, Luigi, 2012. "Household Finance: An Emerging Field," CEPR Discussion Papers 8934, Centre for Economic Policy Research.
    44. Martin Browning & Thomas F. Crossley & Melanie Lührmann, 2016. "Durable Purchases over the Later Life Cycle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(2), pages 145-169, April.
    45. Lundborg, Per & Skedinger, Per, 1999. "Transaction Taxes in a Search Model of the Housing Market," Journal of Urban Economics, Elsevier, vol. 45(2), pages 385-399, March.
    46. Raj Chetty, 2004. "Consumption Commitments, Unemployment Durations, and Local Risk Aversion," NBER Working Papers 10211, National Bureau of Economic Research, Inc.
    47. Suntum, Ulrich van, 2009. "Housing, taxation and retirement provision," Journal of Housing Economics, Elsevier, vol. 18(3), pages 249-255, September.
    48. El-Jahel, Lina & MacCulloch, Robert, 2021. "Trading in the housing market: A model with transaction costs," Mathematical Social Sciences, Elsevier, vol. 113(C), pages 89-96.
    49. Fang (Annie) Yang, 2006. "Consumption Over Life Cycle: How Different is Housing?," Discussion Papers 06-01, University at Albany, SUNY, Department of Economics.
    50. Christopher L. House & John V. Leahy, 2004. "An sS Model with Adverse Selection," Journal of Political Economy, University of Chicago Press, vol. 112(3), pages 581-614, June.
    51. Rui Yao & Haiyong Liu & Wenli Li, 2008. "Housing Over the Life Cycle: A Structural Estimation," 2008 Meeting Papers 701, Society for Economic Dynamics.
    52. Roys, Nicolas, 2014. "Optimal investment policy with fixed adjustment costs and complete irreversibility," Economics Letters, Elsevier, vol. 124(3), pages 416-419.
    53. Benoît Mercereau, 2003. "The Role of Stock Markets in Current Account Dynamics: Evidence from the United States," IMF Working Papers 2003/108, International Monetary Fund.
    54. Gelman, Michael & Kariv, Shachar & Shapiro, Matthew D. & Silverman, Dan & Tadelis, Steven, 2020. "How individuals respond to a liquidity shock: Evidence from the 2013 government shutdown," Journal of Public Economics, Elsevier, vol. 189(C).
    55. Alan S. Blinder & Louis J. Maccini, 1990. "The Resurgence of Inventory Research: What Have We Learned?," NBER Working Papers 3408, National Bureau of Economic Research, Inc.
    56. Jacopo Magnani & Aspen Gorry & Ryan Oprea, 2016. "Time and State Dependence in an Ss Decision Experiment," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(1), pages 285-310, January.
    57. Jonathan S. Skinner, 1994. "Housing and Saving in the United States," NBER Chapters, in: Housing Markets in the United States and Japan, pages 191-214, National Bureau of Economic Research, Inc.
    58. F. Thomas Juster & Joseph P. Lupton & James P. Smith & Frank Stafford, 2004. "The decline in household saving and the wealth effect," Finance and Economics Discussion Series 2004-32, Board of Governors of the Federal Reserve System (U.S.).
    59. João Amaro de Matos & Nuno Silva, 2012. "Consuming durable goods when stock markets jump: a strategic asset allocation approach," GEMF Working Papers 2012-01, GEMF, Faculty of Economics, University of Coimbra.
    60. Harmenberg, Karl & Öberg, Erik, 2021. "Consumption dynamics under time-varying unemployment risk," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 350-365.
    61. Fougère, Denis & Poulhès, Mathilde, 2012. "The Effect of Housing on Portfolio Choice: A Reappraisal Using French Data," CEPR Discussion Papers 9213, Centre for Economic Policy Research.
    62. Stephen G. Dimmock & Neng Wang & Jinqiang Yang, 2019. "The Endowment Model and Modern Portfolio Theory," NBER Working Papers 25559, National Bureau of Economic Research, Inc.
    63. Gautam Goswami & Milind Shrikhande & Liuren Wu, 2002. "A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs," Finance 0207016, University Library of Munich, Germany.
    64. Liang Peng & Lei Zhang, 2021. "House Prices and Systematic Risk: Evidence from Microdata," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(4), pages 1069-1092, December.
    65. Mathilde POULHES, 2020. "Housing Market Responses to Transfer Taxes: Evidence from a French Reform," Working Papers 2020-23, Center for Research in Economics and Statistics.
    66. Kévin Beaubrun-Diant & Tristan-Pierre Maury, 2011. "Assessing the Interaction between Real Estate and Equity in Households Portfolio Choice," Working Papers halshs-00635582, HAL.
    67. Eerola, Essi & Harjunen, Oskari & Lyytikäinen, Teemu & Saarimaa, Tuukka, 2021. "Revisiting the effects of housing transfer taxes," Journal of Urban Economics, Elsevier, vol. 124(C).
    68. Marekwica, Marcel & Schaefer, Alexander & Sebastian, Steffen, 2013. "Life cycle asset allocation in the presence of housing and tax-deferred investing," Journal of Economic Dynamics and Control, Elsevier, vol. 37(6), pages 1110-1125.
    69. Fagereng, Andreas & Holm, Martin Blomhoff & Moll, Benjamin & Natvik, Gisle James, 2020. "Saving Behavior Across the Wealth Distribution: The Importance of Capital Gains," CEPR Discussion Papers 14355, Centre for Economic Policy Research.
    70. Cuoco, Domenico & Liu, Hong, 2000. "Optimal consumption of a divisible durable good," Journal of Economic Dynamics and Control, Elsevier, vol. 24(4), pages 561-613, April.
    71. Xavier Ragot, 2009. "The Case for a Financial Approach to Money Demand," 2009 Meeting Papers 474, Society for Economic Dynamics.
    72. rozsypal, filip & Schlafmann, Kathrin, 2017. "Overpersistence Bias in Individual Income Expectations and its Aggregate Implications," CEPR Discussion Papers 12028, Centre for Economic Policy Research.
    73. Eduardo S. Schwartz & Claudio Tebaldi, 2006. "Illiquid Assets and Optimal Portfolio Choice," NBER Working Papers 12633, National Bureau of Economic Research, Inc.
    74. Benjamin S. Kay, 2015. "The Effects of Housing Adjustment Costs on Consumption Dynamics," Staff Discussion Papers 15-03, Office of Financial Research, US Department of the Treasury.
    75. Verona, Fabio, 2013. "Investment dynamics with information costs," Bank of Finland Research Discussion Papers 18/2013, Bank of Finland.
    76. Yamashita, Takashi, 2003. "Owner-occupied housing and investment in stocks: an empirical test," Journal of Urban Economics, Elsevier, vol. 53(2), pages 220-237, March.
    77. Petr Makovský, 2019. "Mankiw’s “Puzzle” – Is Durable Consumption Declining?," Contemporary Economics, Vizja University, vol. 13(4), December.
    78. Vayanos, Dimitri, 1998. "Transaction costs and asset prices : a dynamic equilibrium model," LSE Research Online Documents on Economics 451, London School of Economics and Political Science, LSE Library.
    79. Lutz G. Arnold & Andreas Babl, 2013. "Alas, My Home is My Castle: The Excessive Screening Cost of Buying a House," Working Papers 134, Bavarian Graduate Program in Economics (BGPE).
    80. Chen Hua & Mahani Reza S., 2012. "Optimal Demand for Insurance with Consumption Commitments," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 6(2), pages 1-26, June.
    81. Jianmei Zhao & Jiandong Li, 2017. "The Dual Effects of Housing on Portfolio Choices: Evidence from Urban China," Annals of Economics and Finance, Society for AEF, vol. 18(2), pages 253-276, November.
    82. Guthrie, Graeme, 2020. "Investment flexibility as a barrier to entry," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    83. Fernández-Villaverde, Jesús & Krueger, Dirk, 2011. "Consumption And Saving Over The Life Cycle: How Important Are Consumer Durables?," Macroeconomic Dynamics, Cambridge University Press, vol. 15(5), pages 725-770, November.
    84. Chuanyong Zhang & Guoliang Feng, 2018. "More wealth, less leisure? Effect of housing wealth on tourism expenditure in China," Tourism Economics, , vol. 24(5), pages 526-540, August.
    85. Matthew Chambers & Carlos Garriga, 2005. "Accounting for Changes in the Homeownership Rate," Computing in Economics and Finance 2005 304, Society for Computational Economics.
    86. John V. Leahy & Joseph Zeira, 2000. "The Timing of Purchases and Aggregate Fluctuations," NBER Working Papers 7672, National Bureau of Economic Research, Inc.
    87. Monika Piazzesi & Martin Schneider, 2016. "Housing and Macroeconomics," NBER Working Papers 22354, National Bureau of Economic Research, Inc.
    88. Koren, Miklós & Szeidl, Adam, 2003. "Portfolio Choice with Illiquid Assets," CEPR Discussion Papers 3795, Centre for Economic Policy Research.
    89. Boris Chafwehe, 2023. "Unemployment Risk, Consumption Dynamics, and the Secondary Market for Durable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 202-243, April.
    90. Essi Eerola & Oskari Harjunen & Teemu Lyytikäinen & Tuukka Saarimaa, 2019. "Effects of Housing Transfer Taxes on Household Mobility," CESifo Working Paper Series 7750, CESifo.
    91. Guiso, Luigi & Bertola, Giuseppe & Pistaferri, Luigi, 2002. "Uncertainty and Consumer Durables Adjustment," CEPR Discussion Papers 3332, Centre for Economic Policy Research.
    92. Gomes, Francisco J. & Haliassos, Michael & Ramadorai, Tarun, 2020. "Household finance," IMFS Working Paper Series 138, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    93. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
    94. Kent D. Daniel & David A. Marshall, 1998. "Consumption-based modeling of long-horizon returns," Working Paper Series WP-98-18, Federal Reserve Bank of Chicago.
    95. Neha Bairoliya & Areendam Chanda & Jingyi Fang & Fang Yang, 2025. "Household Consumption and Savings over the Life Cycle: The Roles of Demographics and Durables," Working Papers 2537, Federal Reserve Bank of Dallas, revised 15 Jun 2026.
    96. Matthew Chambers & Carlos Garriga & Don E. Schlagenhauf, 2007. "Mortgage contracts and housing tenure decisions," Working Papers 2007-040, Federal Reserve Bank of St. Louis.
    97. Daria Taglioni & Veronika Zavacka, 2012. "Innocent bystanders: How foreign uncertainty shocks harm exporters," Working Papers 149, European Bank for Reconstruction and Development, Office of the Chief Economist.
    98. Jarrod Wilcox & Frank Fabozzi, 2009. "A Discretionary Wealth Approach to Investment Policy," Yale School of Management Working Papers amz2434, Yale School of Management.
    99. Raj Chetty & Adam Szeidl, 2004. "Consumption Commitments and Habit Formation," NBER Working Papers 10970, National Bureau of Economic Research, Inc.
    100. Graciela Sanromán, 2003. "Vivienda y Fiscalidad en España: un análisis empírico," Documentos de Trabajo (working papers) 0803, Department of Economics - dECON.
    101. Drewianka, Scott, 2008. "Constrained labor supply and risk-aversion," Economics Letters, Elsevier, vol. 101(2), pages 130-133, November.
    102. Zou, Jing & Deng, Xiaojun, 2019. "Financial literacy, housing value and household financial market participation: Evidence from urban China," China Economic Review, Elsevier, vol. 55(C), pages 52-66.
    103. Philippe Weil, 1989. "The Equity Premium Puzzle and the Riskfree Rate Puzzle," NBER Working Papers 2829, National Bureau of Economic Research, Inc.
    104. Francis A. Longstaff, 2004. "Financial Claustrophobia: Asset Pricing in Illiquid Markets," NBER Working Papers 10411, National Bureau of Economic Research, Inc.
    105. Pelizzon, Loriana & Weber, Guglielmo, 2009. "Efficient portfolios when housing needs change over the life cycle," Journal of Banking & Finance, Elsevier, vol. 33(11), pages 2110-2121, November.
    106. Rolf Golombek & Arvid Raknerud, 2005. "Exit Dynamics with Adjustment Costs," Discussion Papers 442, Statistics Norway, Research Department.
    107. Murray Carlson & Zeigham Khokher & Sheridan Titman, 2006. "Equilibrium Exhaustible Resource Price Dynamics," NBER Working Papers 12000, National Bureau of Economic Research, Inc.
    108. Fang Yang, 2006. "Consumption along the life cycle: how different is housing?," Working Papers 635, Federal Reserve Bank of Minneapolis.
    109. Lü, Yiqing & Zhao, Bin & Zhu, Ning, 2024. "Unveiling investors' substitution behavior: Stock trading decisions in response to housing market dynamics," Journal of Corporate Finance, Elsevier, vol. 86(C).
    110. Denis Fougère & Mathilde Poulhes, 2014. "La propriété immobilière: quelle influence sur le portefeuille des ménages ?," Post-Print hal-03393008, HAL.
    111. Huirong Liu, 2020. "Housing Investment, Stock Market Participation and Household Portfolio choice: Evidence from China's Urban Areas," Papers 2001.01641, arXiv.org.
    112. Tokuo IWAISAKO & Arito ONO & Amane SAITO & Hidenobu TOKUDA, 2019. "Disentangling the Effect of Home Ownership on Household Stock-holdings: Evidence from Japanese microdata," Discussion papers 19007, Research Institute of Economy, Trade and Industry (RIETI).
    113. Ricardo Bebczuk & Maria Lorena Garegnani, 2012. "Real State as Housing and as Financial Investment: A First Assessment for Argentina," Department of Economics, Working Papers 095, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    114. Robert Ostling & Erik Lindqvist & David Cesarini & Joseph Briggs, 2015. "Wealth and Stock Market Participation: Estimating the Causal Effect From Swedish Lotteries," 2015 Meeting Papers 806, Society for Economic Dynamics.
    115. Robert Östling & Erik Lindqvist & David Cesarini & Joseph Briggs, 2016. "Wealth, Portfolio Allocations, and Risk Preference," 2016 Meeting Papers 1089, Society for Economic Dynamics.
    116. Stokey, Nancy L., 2009. "Moving costs, nondurable consumption and portfolio choice," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2419-2439, November.
    117. Eberly, Janice C, 1994. "Adjustment of Consumers' Durables Stocks: Evidence from Automobile Purchases," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 403-436, June.
    118. Kyoung Jin Choi & Junkee Jeon & Hyeng Keun Koo, 2018. "Duesenberry's Theory of Consumption: Habit, Learning, and Ratcheting," Papers 1812.10038, arXiv.org.
    119. Viviana Fernández, 2002. "What Drives Replacement of Durable Goods at the Micro Level?," Documentos de Trabajo 122, Centro de Economía Aplicada, Universidad de Chile.
    120. Stephen Snudden, 2025. "Idiosyncratic asset return and wage risk of US households," Economic Inquiry, Western Economic Association International, vol. 63(2), pages 636-657, April.
    121. Joseph Nichols, 2004. "A Life-cycle Model with Housing, Portfolio Allocation, and Mortgage Financing," Econometric Society 2004 North American Winter Meetings 205, Econometric Society.
    122. Orazio P. Attanasio, 1995. "Consumer Durables and Inertial Behavior: Estimation and Aggregation of (S,s) Rules," NBER Working Papers 5282, National Bureau of Economic Research, Inc.
    123. Diepold, Dennis, 2011. "Zum Einfluss kurzfristiger Fremdfinanzierungsmöglichkeiten auf die Portfoliooptimierung mit illiquiden Assets," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 65(4), pages 380-401.
    124. Khalid Sekkat & Ariane Szafarz, 2009. "Valuing homeownership," Working Papers CEB 09-006.RS, ULB -- Universite Libre de Bruxelles.
    125. Yulei Rao & Lixing Mei & Rui Zhu, 2016. "Happiness and Stock-Market Participation: Empirical Evidence from China," Journal of Happiness Studies, Springer, vol. 17(1), pages 271-293, February.
    126. Geoffrey Meen & Alexander Mihailov & Yehui Wang, 2016. "Endogenous UK Housing Cycles and the Risk Premium: Understanding the Next Housing Crisis," Economics Discussion Papers em-dp2016-02, Department of Economics, University of Reading.
    127. Eddie Dekel & John K. -H. Quah & Ludvig Sinander, 2022. "Comparative statics with adjustment costs and the Le Chatelier principle," Papers 2206.00347, arXiv.org, revised Oct 2024.
    128. Stefano Corradin & Carles Vergara-Alert & Jose Fillat, 2019. "Household Choices with House Value Misperception," 2019 Meeting Papers 1247, Society for Economic Dynamics.
    129. Boris Chafwehé, 2017. "Durable Goods Markets in Heterogenous Agents Economies," LIDAM Discussion Papers IRES 2017021, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    130. Paul Ehling, 2004. "Consumption, Portfolio Policies and Dynamic Equilibrium in the Presence of Preference for Ownership," Econometric Society 2004 North American Winter Meetings 311, Econometric Society.
    131. D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2023. "Cognitive constraints and economic incentives," Bank of Finland Research Discussion Papers 9/2023, Bank of Finland.
    132. Joseph B. Nichols, 2007. "Nominal mortgage contracts and the effects of inflation on portfolio allocation," Finance and Economics Discussion Series 2007-67, Board of Governors of the Federal Reserve System (U.S.).
    133. Yongqiang Chu, 2010. "An Intertemporal Capital Asset Pricing Model with Owner‐Occupied Housing," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(3), pages 427-465, September.
    134. Orazio Attanasio, 1997. "Consumption and saving behaviour: modelling recent trends," Fiscal Studies, Institute for Fiscal Studies, vol. 18(1), pages 23-47, February.
    135. Ravi Jagannathan & Srikant Marakani & Hitoshi Takehara & Yong Wang, 2012. "Calendar Cycles, Infrequent Decisions, and the Cross Section of Stock Returns," Management Science, INFORMS, vol. 58(3), pages 507-522, March.
    136. Raj Chetty, 2009. "Bounds on Elasticities with Optimization Frictions: A Synthesis of Micro and Macro Evidence on Labor Supply," NBER Working Papers 15616, National Bureau of Economic Research, Inc.
    137. Yonit Barron, 2022. "A probabilistic approach to the stochastic fluid cash management balance problem," Annals of Operations Research, Springer, vol. 312(2), pages 607-645, May.
    138. Khorunzhina, Natalia, 2013. "Structural estimation of stock market participation costs," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2928-2942.
    139. Ken Miyahara, 2025. "On the cyclicality of durable consumption responses," Working Papers 210, Peruvian Economic Association.
    140. Corradin, Stefano, 2012. "Household leverage," Working Paper Series 1452, European Central Bank.
    141. Dmitriy Stolyarov & Ennio Stacchetti, 2004. "Obsolescence of Durable Goods and Optimal Consumption," Econometric Society 2004 Latin American Meetings 312, Econometric Society.
    142. Maurice Obstfeld, 1990. "The Effectiveness of Foreign-Exchange Intervention: Recent Experience, 1985- 1988," NBER Chapters, in: International Policy Coordination and Exchange Rate Fluctuations, pages 197-246, National Bureau of Economic Research, Inc.
    143. Jouini, Elyes & Kallal, Hedi & Napp, Clotilde, 2001. "Arbitrage and viability in securities markets with fixed trading costs," Journal of Mathematical Economics, Elsevier, vol. 35(2), pages 197-221, April.
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    2. Santos-Pinto, Luís, 2003. "Positive self-image and incentives in organizations," MPRA Paper 3141, University Library of Munich, Germany, revised 14 Feb 2007.
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    5. Teraji, Shinji, 2009. "A model of corporate social performance: Social satisfaction and moral conduct," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 926-934, December.
    6. Dreber, Anna & Rand, David & Wernerfelt, Nils & Worrell, Peter & Zeckhauser, Richard, 2013. "The Decisions of Entrepreneurs and Their Agents: Revealed Levels of Risk Aversion and Betrayal Aversion," Working Paper Series rwp13-016, Harvard University, John F. Kennedy School of Government.
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    1. Georges Dionne & Xiaozhou Zhou, 2019. "Information Environments and High Price Impact Trades: Implication for Volatility and Price Efficiency," Working Papers 19-3, HEC Montreal, Canada Research Chair in Risk Management.
    2. Peress, Joël, 2013. "The Media and the Diffusion of Information in Financial Markets: Evidence from Newspaper Strikes," CEPR Discussion Papers 9653, Centre for Economic Policy Research.
    3. Baur, Dirk G. & Dimpfl, Thomas & Jung, Robert C., 2012. "Stock return autocorrelations revisited: A quantile regression approach," University of Tübingen Working Papers in Business and Economics 24, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    4. Stephen Morris & Hyun Song Shin, 2003. "Liquidity Black Holes," Cowles Foundation Discussion Papers 1434, Cowles Foundation for Research in Economics, Yale University.
    5. Das, Prashant & Füss, Roland & Hanle, Benjamin & Russ, Isabel Nina, 2020. "The cross-over effect of irrational sentiments in housing, commercial property, and stock markets," Journal of Banking & Finance, Elsevier, vol. 114(C).
    6. Amir E. Khandani & Andrew W. Lo, 2008. "What Happened To The Quants In August 2007?: Evidence from Factors and Transactions Data," NBER Working Papers 14465, National Bureau of Economic Research, Inc.
    7. Ignashkina, Anna & Rinne, Kalle & Suominen, Matti, 2022. "Short-term reversals, returns to liquidity provision and the costs of immediacy," Journal of Banking & Finance, Elsevier, vol. 138(C).
    8. Anthony Heyes & Matthew Neidell & Soodeh Saberian, 2016. "The Effect of Air Pollution on Investor Behavior: Evidence from the S&P 500," NBER Working Papers 22753, National Bureau of Economic Research, Inc.
    9. Masahiro Watanabe, 2003. "A Model of Stochastic Liquidity," Yale School of Management Working Papers ysm385, Yale School of Management.
    10. Santos, Tano & Veronesi, Pietro, 2022. "Leverage," Journal of Financial Economics, Elsevier, vol. 145(2), pages 362-386.
    11. Alessia Naccarato & Andrea Pierini & Giovanna Ferraro, 2021. "Markowitz portfolio optimization through pairs trading cointegrated strategy in long-term investment," Annals of Operations Research, Springer, vol. 299(1), pages 81-99, April.
    12. Iori, Giulia, 2002. "A microsimulation of traders activity in the stock market: the role of heterogeneity, agents' interactions and trade frictions," Journal of Economic Behavior & Organization, Elsevier, vol. 49(2), pages 269-285, October.
    13. Panpan Wang & Tsungwu Ho & Yishi Li, 2020. "The Price-Volume Relationship of the Shanghai Stock Index: Structural Change and the Threshold Effect of Volatility," Sustainability, MDPI, vol. 12(8), pages 1-17, April.
    14. Fotini Economou & Konstantinos Gavriilidis & Bartosz Gebka & Vasileios Kallinterakis, 2022. "Feedback trading: a review of theory and empirical evidence," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 15(4), pages 429-476, February.
    15. Kevin Rink, 2025. "The role of technical chart patterns in the early Bitcoin market: intraday evidence from the Mt.Gox transaction dataset," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-67, December.
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  14. Sanford J. Grossman, 1982. "A Transactions Based Model of the Monetary Transmission Mechanism: Part 2," NBER Working Papers 0974, National Bureau of Economic Research, Inc.

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    2. Mercedes Teruel Carrizosa & Agustí Segarra Blasco, 2009. "Immigration and Firm Performance: a city-level approach," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 15, pages 111-137.
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  15. Sanford J. Grossman & Laurence Weiss, 1982. "A Transactions Based Model of the Monetary Transmission Mechanism: Part 1," NBER Working Papers 0973, National Bureau of Economic Research, Inc.

    Cited by:

    1. Li, Jenny X., 1998. "Numerical analysis of a nonlinear operator equation arising from a monetary model," Journal of Economic Dynamics and Control, Elsevier, vol. 22(8-9), pages 1335-1351, August.

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    47. Galicia-Sanguino, Lucía & Rojo-Suárez, Javier & Alonso-Conde, Ana B. & López-Pérez, M. Victoria, 2021. "Trade integration and research and development investment as a proxy for idiosyncratic risk in the cross-section of stock returns," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
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    1. Rousakis, Michael, "undated". "Expectations and Fluctuations: The Role of Monetary Policy," Economic Research Papers 270655, University of Warwick - Department of Economics.
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    5. Francisco Rosende & Roberto Toso, 1984. "Una Explicación para la Tasa de Interés Real en Chile en el Período 1975-1983," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 21(62), pages 25-36.
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    5. DEHEZ, Pierre, 2012. "Incomplete-markets economies: the seminal work of Diamond, Drèze and Radner," LIDAM Discussion Papers CORE 2012029, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Pascal Stiefenhofer, 2009. "Production in General Equilibrium with Incomplete Markets," Discussion Papers 09/06, Department of Economics, University of York.
    7. Bonnisseau, Jean-Marc & Lachiri, Oussama, 2004. "On the objective of firms under uncertainty with stock markets," Journal of Mathematical Economics, Elsevier, vol. 40(5), pages 493-513, August.
    8. Tarek Eldomiaty & Marina Apaydin & Mona Yusuf & Mohamed Rashwan, 2023. "How Do Stock Market Development and Competitiveness Affect Equity Risk Premium? Implications from World Economies," IJFS, MDPI, vol. 11(1), pages 1-19, February.
    9. Bejan, Camelia, 2008. "Production and financial decisions under uncertainty," MPRA Paper 11033, University Library of Munich, Germany.
    10. Azar, José & Vives, Xavier, 2018. "Oligopoly, Macroeconomic Performance, and Competition Policy," CEPR Discussion Papers 13000, Centre for Economic Policy Research.
    11. Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," Sciences Po Economics Publications (main) hal-00972983, HAL.
    12. Tarun Sabarwal, 2004. "A Consistent Firm Objective When Markets are Incomplete: Profit Maximization," Econometric Society 2004 North American Summer Meetings 141, Econometric Society.
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    1. Gunther Maier & Shanaka Herath, 2009. "Real Estate Market Efficiency: A Survey of Literature," SRE-Disc sre-disc-2009_07, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
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    7. Pietro Dindo & Filippo Massari, 2017. "The Wisdom of the Crowd in Dynamic Economies," Working Papers 2017:17, Department of Economics, University of Venice "Ca' Foscari", revised 2018.
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    4. Mahayni, Antje & Schneider, Judith C., 2012. "Variable annuities and the option to seek risk: Why should you diversify?," Journal of Banking & Finance, Elsevier, vol. 36(9), pages 2417-2428.
    5. Keshavarz Haddad, Gholamreza & Heidari, Hadi, 2020. "Optimal Portfolio Allocation with Price Limit Constraint," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(2), pages 123-134, April.
    6. Leippold, Markus & Trojani, Fabio & Vanini, Paolo, 2004. "A geometric approach to multiperiod mean variance optimization of assets and liabilities," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1079-1113, March.
    7. Lan, Yingcong & Wang, Neng & Yang, Jinqiang, 2013. "The economics of hedge funds," Journal of Financial Economics, Elsevier, vol. 110(2), pages 300-323.
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  22. Sanford J. Grossman & Oliver D. Hart, "undated". "The Allocational Role of Takeover Bids in Situations of Asymmetric Information," Rodney L. White Center for Financial Research Working Papers 06-80, Wharton School Rodney L. White Center for Financial Research.

    Cited by:

    1. Praveen Kumar & Latha Ramchand, 2008. "Takeovers, market monitoring, and international corporate governance," RAND Journal of Economics, RAND Corporation, vol. 39(3), pages 850-874, September.
    2. Stefano Romito & Clodia Vurro, 2021. "Non‐financial disclosure and information asymmetry: A stakeholder view on US listed firms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 595-605, March.
    3. H. T.J. Smit & W. A. Van Den Berg & W. De Maeseneire, 2005. "Acquisitions as a real options bidding game," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/289, Ghent University, Faculty of Economics and Business Administration.
    4. Michael J. Fishman, 1986. "Preemptive Bidding and the Role of the Medium of Exchange in Acquisitions," Discussion Papers 688, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    5. Dulani Jayasuriya & Ben O’Neill, 2021. "Social Media’s Impact on the Global Mergers and Acquisitions Market," JRFM, MDPI, vol. 14(4), pages 1-41, April.
    6. At, Christian & Burkart, Mike & Lee, Samuel, 2011. "Security-voting structure and bidder screening," LSE Research Online Documents on Economics 69542, London School of Economics and Political Science, LSE Library.
    7. Emanuele BACCHIOCCHI & Matteo FERRARI & Massimo FLORIO & Daniela VANDONE, 2015. "State-Owned Banks: Acquirers in M&A deals," CIRIEC Working Papers 1508, CIRIEC - Université de Liège.
    8. Ayse Mumcu, 2005. "Takeover Threat, Managerial Incentives, and Term Structure of Investment," Working Papers 2005/02, Bogazici University, Department of Economics.
    9. Burkart, Mike & Lee, Samuel, 2010. "Signaling in Tender Offer Games," CEPR Discussion Papers 7938, Centre for Economic Policy Research.
    10. Bargeron, Leonce L., 2012. "Do Shareholder Tender Agreements inform or expropriate shareholders?," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 373-388.
    11. Maug, Ernst, 2006. "Efficiency and fairness in minority freezeouts: Takeovers, overbidding, and the freeze-in problem," International Review of Law and Economics, Elsevier, vol. 26(3), pages 355-379, September.
    12. Bilge Yilmaz, "undated". "A Theory of Takeover Bidding," Rodney L. White Center for Financial Research Working Papers 03-00, Wharton School Rodney L. White Center for Financial Research.
    13. Besik Bolkvadze, 2018. "Peculiarities of the “Estonian†Tax Model in Taxation System of Georgia," European Journal of Interdisciplinary Studies, Mentisia, vol. 4, May - Aug.
    14. Tao, Fang & Liu, Xiaohui & Gao, Lan & Xia, Enjun, 2017. "Do cross-border mergers and acquisitions increase short-term market performance? The case of Chinese firms," International Business Review, Elsevier, vol. 26(1), pages 189-202.
    15. Bilge Yilmaz, "undated". "A Theory of Takeover Bidding," Rodney L. White Center for Financial Research Working Papers 3-00, Wharton School Rodney L. White Center for Financial Research.
    16. Bart Hobijn & Boyan Jovanovic, 2001. "The Information-Technology Revolution and the Stock Market: Evidence," American Economic Review, American Economic Association, vol. 91(5), pages 1203-1220, December.
    17. Frank Stähler, 2014. "Partial ownership and cross-border mergers," Journal of Economics, Springer, vol. 111(3), pages 209-237, April.
    18. Yasser Alhenawi & Martha Stilwell, 2017. "Value creation and the probability of success in merger and acquisition transactions," Review of Quantitative Finance and Accounting, Springer, vol. 49(4), pages 1041-1085, November.
    19. Blazy, Régis & Martel, Jocelyn & Nigam, Nirjhar, 2014. "The choice between informal and formal restructuring: The case of French banks facing distressed SMEs," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 248-263.
    20. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
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    22. Patricia Charletty & Marie-Cécile Fagart & Saïd Souam, 2004. "Real Market Concentration through Partial Acquisitions," Working Papers 2004-07, Center for Research in Economics and Statistics.
    23. Hart, Oliver & Bebchuk, Lucian Arye, 2001. "Takeover Bids versus Proxy Fights in Contests for Corporate Control," CEPR Discussion Papers 3073, Centre for Economic Policy Research.
    24. Sanford J. Grossman & Oliver D. Hart, 1987. "One Share/One Vote and the Market for Corporate Control," NBER Working Papers 2347, National Bureau of Economic Research, Inc.
    25. Burkart, Mike & Lee, Samuel, 2015. "Signalling to dispersed shareholders and corporate control," LSE Research Online Documents on Economics 69538, London School of Economics and Political Science, LSE Library.
    26. Del Bo, Chiara D. & Ferraris, Matteo & Florio, Massimo, 2017. "Governments in the market for corporate control: Evidence from M&A deals involving state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 89-109.
    27. Patricia Charlety-Lepers, 1990. "Les offres publiques d'achat et d'échange. Une synthèse de la littérature," Revue Économique, Programme National Persée, vol. 41(5), pages 869-894.
    28. Sudarsanam, Sudi & Salami, Ayo & Alexandrou, George, 2002. "Rational expectations, analysts' forecasts of earnings and sources of value gains for takeover targets," Journal of Banking & Finance, Elsevier, vol. 26(1), pages 153-177, January.
    29. Lucian Bebchuk & Oliver Hart, 2001. "Takeover bids vs. Proxy Fights in Contests for Corporate Control," NBER Working Papers 8633, National Bureau of Economic Research, Inc.
    30. Ren, Yaru & Li, Lin & Tong, Wilson H.S. & Lam, Peter, 2024. "When acquirers are short on cash flow in M&A deals," International Review of Financial Analysis, Elsevier, vol. 94(C).
    31. Yaru Ren & Lin Li & Wilson H.S. Tong & Peter Lam, 2024. "When acquirers are short on cash flow in M&A deals," Post-Print hal-04562214, HAL.

  23. Sanford J. Grossman, "undated". "An Economic Analysis of Dual Trading," Rodney L. White Center for Financial Research Working Papers 33-89, Wharton School Rodney L. White Center for Financial Research.

    Cited by:

    1. Sugato Chakravarty & Asani Sarkar, 1998. "An analysis of brokers' trading with applications to order flow internalization and off-exchange sales," Research Paper 9813, Federal Reserve Bank of New York.
    2. Peter Locke & Asani Sarkar & Lifan Wu, 1996. "Did the good guys lose?: heterogeneous traders and regulatory restrictions on dual trading," Research Paper 9611, Federal Reserve Bank of New York.
    3. Sugato Chakravarty & Asani Sarkar & Lifan Wu, 1997. "Estimating the adverse selection cost in markets with multiple informed traders," Research Paper 9713, Federal Reserve Bank of New York.
    4. Sugato Chakravarty & Asani Sarkar & Lifan Wu, 1998. "Estimating the adverse selection and fixed costs of trading in markets with multiple informed traders," Research Paper 9814, Federal Reserve Bank of New York.
    5. Sugato Chakravarty & Asani Sarkar, 1997. "Can competition between brokers mitigate agency conflicts with their customers?," Research Paper 9705, Federal Reserve Bank of New York.
    6. Romans Pancs, 2014. "Workup," Review of Economic Design, Springer;Society for Economic Design, vol. 18(1), pages 37-71, March.
    7. Sugato Chakravarty & Asani Sarkar, 1997. "Traders' broker choice, market liquidity and market structure," Staff Reports 28, Federal Reserve Bank of New York.
    8. Peter Locke & Asani Sarkar & Lifan Wu, 1997. "Market liquidity and trader welfare in multiple dealer markets: evidence from dual trading restrictions," Research Paper 9721, Federal Reserve Bank of New York.
    9. Hun Y. Park & Asani Sarkar & Lifan Wu, 1998. "Do Brokers Misallocate Customer Trades? Evidence From Futures Markets," Finance 9801002, University Library of Munich, Germany.
    10. Frantisek Kopriva, 2008. "Source of Information-Driven Trading on the Prague Stock Exchange," CERGE-EI Working Papers wp365, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    11. Albert J. Menkveld & Asani Sarkar & Michel Van der Wel, 2007. "Macro news, risk-free rates, and the intermediary: customer orders for thirty-year Treasury futures," Staff Reports 307, Federal Reserve Bank of New York.
    12. Chakravarty, Sugato & Li, Kai, 2003. "A Bayesian analysis of dual trader informativeness in futures markets," Journal of Empirical Finance, Elsevier, vol. 10(3), pages 355-371, May.

  24. Sanford Grossman & Oliver Hart, "undated". "Disclosure Laws and Takeover Bids," Rodney L. White Center for Financial Research Working Papers 23-79, Wharton School Rodney L. White Center for Financial Research.

    Cited by:

    1. Daniela Rroshi & Michael Weichselbaumer, 2021. "What is in a price? Evidence on quality signaling for experience goods," Department of Economics Working Papers wuwp311, Vienna University of Economics and Business, Department of Economics.
    2. Praveen Kumar & Nisan Langberg & K. Sivaramakrishnan, 2012. "Voluntary Disclosures, Corporate Control, and Investment," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(4), pages 1041-1076, September.
    3. Miura, Shintaro, 2014. "A characterization of equilibrium set of persuasion games with binary actions," Journal of Mathematical Economics, Elsevier, vol. 51(C), pages 55-68.
    4. Katarzyna Anna Bilicka & Elisa Casi & Carol Seregni & Barbara Stage, 2021. "Tax Strategy Disclosure: A Greenwashing Mandate?," CESifo Working Paper Series 9030, CESifo.
    5. Fang, Tian Jin & Han, Jianlei & He, Jing & Shi, Jing, 2021. "Property rights protection and mergers and acquisitions," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    6. Doherty, Neil A. & Kartasheva, Anastasia V. & Phillips, Richard D., 2012. "Information effect of entry into credit ratings market: The case of insurers' ratings," Journal of Financial Economics, Elsevier, vol. 106(2), pages 308-330.
    7. Eduardo Perez & Delphine Prady, 2012. "Complicating to Persuade?," Working Papers hal-03583827, HAL.
    8. Montero, Maria & Sheth, Jesal D., 2021. "Naivety about hidden information: An experimental investigation," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 92-116.
    9. Xu Guan & Yulan Wang & Zelong Yi & Ying‐Ju Chen, 2020. "Inducing Consumer Online Reviews Via Disclosure," Production and Operations Management, Production and Operations Management Society, vol. 29(8), pages 1956-1971, August.
    10. Bruce Ian Carlin & Shaun William Davies & Andrew Miles Iannaccone, 2010. "Competing for Attention in Financial Markets," NBER Working Papers 16085, National Bureau of Economic Research, Inc.
    11. He Huang & Yufeng Yang & Hongyan Xu, 2025. "Larger number of reviews or higher rating? The firm’s pricing and quality disclosure strategies on the online platform," Information Technology and Management, Springer, vol. 26(1), pages 39-56, March.
    12. Young-Ro Yoon, 2017. "Strategic Disclosure Of Meaningful Information To Rival," Economic Inquiry, Western Economic Association International, vol. 55(2), pages 806-824, April.
    13. George Serafeim, 2011. "Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 49(2), pages 529-571, May.
    14. Waters, James, 2015. "Optimal design and consequences of financial disclosure regulation: a real options approach," MPRA Paper 63369, University Library of Munich, Germany.
    15. Khadija S. Almaghrabi, 2025. "Climate Change Exposure and the Readability of Narrative Disclosures in Annual Reports," Sustainability, MDPI, vol. 17(11), pages 1-18, June.
    16. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    17. Raphael Boleslavsky & Bruce I. Carlin & Christopher Cotton, 2017. "Competing for Capital: Auditing and Credibility in Financial Reporting," NBER Working Papers 23273, National Bureau of Economic Research, Inc.
    18. Bernhard Ganglmair & Emanuele Tarantino, 2014. "Conversation with secrets," RAND Journal of Economics, RAND Corporation, vol. 45(2), pages 273-302, June.
    19. Colin Beardsley & John R. O'Brien, 2004. "The Effectiveness of Britain's Financial Service Authority: An Economic Analysis," ICMA Centre Discussion Papers in Finance icma-dp2004-11, Henley Business School, University of Reading.
    20. Terstiege, Stefan & Wasser, Cédric, 2020. "Buyer-optimal extensionproof information," Journal of Economic Theory, Elsevier, vol. 188(C).
    21. Imen Ghadhab, 2023. "Bonding, signaling theory and dividend policy: Evidence from multinational firms," Journal of Asset Management, Palgrave Macmillan, vol. 24(1), pages 69-83, February.
    22. Mezzetti, Claudio, 2020. "Manipulative Disclosure," The Warwick Economics Research Paper Series (TWERPS) 1250, University of Warwick, Department of Economics.
    23. Djankov, Simeon & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2010. "Disclosure by Politicians," Scholarly Articles 33077931, Harvard University Department of Economics.
    24. Boerner, Lars, 2016. "Medieval market making brokerage regulations in Central Western Europe, ca. 1250-1700," Economic History Working Papers 66834, London School of Economics and Political Science, Department of Economic History.
    25. Mohammad Nasih & Iman Harymawan & Siti Zaleha Abdul Rasid & Fajar Kristanto Gautama Putra, 2024. "Tax avoidance and sustainability reporting: Alignment or greenwashing strategy?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(6), pages 6335-6351, November.
    26. Stefan Bechtold & Felix Hoeffler, 2007. "An economic analysis of trade-secret protection in buyer-seller relationships," Discussion Paper Series of the Max Planck Institute for Behavioral Economics 2007_18, Max Planck Institute for Behavioral Economics.
    27. Barton L. Lipman & Elchanan Ben-Porath, 2010. "Implementation with Partial Provability," Boston University - Department of Economics - Working Papers Series WP2010-018, Boston University - Department of Economics.
    28. Xinyan Shi, 2013. "Information disclosure and vaccination externalities," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(3), pages 229-243, September.
    29. Li, Sanxi & Peitz, Martin & Zhao, Xiaojian, 2010. "Worried about Adverse Product Effects? Information Disclosure and Consumer Awareness," TSE Working Papers 10-157, Toulouse School of Economics (TSE).
    30. Benndorf, Volker & Kübler, Dorothea & Normann, Hans-Theo, 2022. "Behavioral Forces Driving Information Unraveling," Rationality and Competition Discussion Paper Series 354, CRC TRR 190 Rationality and Competition.
    31. Eduardo Perez-Richet, 2012. "Competing with Equivocal Information," Working Papers hal-00675126, HAL.
    32. Huang, Song & Xu, Jiawen & Wang, Yun, 2025. "Quality disclosure in a dual-channel supply chain with an online dual-purpose platform," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 193(C).
    33. Xi Li, 2010. "The impacts of product market competition on the quantity and quality of voluntary disclosures," Review of Accounting Studies, Springer, vol. 15(3), pages 663-711, September.
    34. Thewissen, James & Shrestha, Prabal & Torsin, Wouter & Pastwa, Anna M., 2022. "Unpacking the black box of ICO white papers: A topic modeling approach," Journal of Corporate Finance, Elsevier, vol. 75(C).
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  5. John Y. Campbell & Sanford J. Grossman & Jiang Wang, 1993. "Trading Volume and Serial Correlation in Stock Returns," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(4), pages 905-939.
    See citations under working paper version above.
  6. Grossman, Sanford J. & Vila, Jean-Luc, 1992. "Optimal Dynamic Trading with Leverage Constraints," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 27(2), pages 151-168, June.
    See citations under working paper version above.
  7. Grossman, Sanford J, 1992. "The Informational Role of Upstairs and Downstairs Trading," The Journal of Business, University of Chicago Press, vol. 65(4), pages 509-528, October.
    See citations under working paper version above.
  8. Grossman, Sanford J & Laroque, Guy, 1990. "Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods," Econometrica, Econometric Society, vol. 58(1), pages 25-51, January.
    See citations under working paper version above.
  9. Grossman, Sanford J & Vila, Jean-Luc, 1989. "Portfolio Insurance in Complete Markets: A Note," The Journal of Business, University of Chicago Press, vol. 62(4), pages 473-476, October.
    See citations under working paper version above.
  10. Grossman, Sanford J, 1988. "An Analysis of the Implications for Stock and Futures Price Volatility of Program Trading and Dynamic Hedging Strategies," The Journal of Business, University of Chicago Press, vol. 61(3), pages 275-298, July.
    See citations under working paper version above.
  11. Sanford J. Grossman, 1988. "Program trading and stock and futures price volatility," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 8(4), pages 413-419, August.

    Cited by:

    1. Shang-Jin Wei & Jungshik Kim, 1997. "The Big Players in the Foreign Exchange Market: Do They Trade on Information or Noise?," NBER Working Papers 6256, National Bureau of Economic Research, Inc.
    2. Ismailescu, Iuliana & Phillips, Blake, 2015. "Credit default swaps and the market for sovereign debt," Journal of Banking & Finance, Elsevier, vol. 52(C), pages 43-61.
    3. Sugato Chakravarty & Asani Sarkar, 1999. "Liquidity in U.S. fixed income markets: a comparison of the bid-ask spread in corporate, government and municipal bond markets," Staff Reports 73, Federal Reserve Bank of New York.
    4. Yadav, Pradeep K., 1992. "Event studies based on volatility of returns and trading volume: A review," The British Accounting Review, Elsevier, vol. 24(2), pages 157-184.
    5. Brøgger, Søren Bundgaard, 2022. "Dynamic risk management and asset comovement," Journal of Empirical Finance, Elsevier, vol. 67(C), pages 60-77.
    6. Griffith, Todd & Roseman, Brian & Shang, Danjue, 2020. "The effects of an increase in equity tick size on stock and option transaction costs," Journal of Banking & Finance, Elsevier, vol. 114(C).
    7. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.

  12. Grossman, Sanford J. & Hart, Oliver D., 1988. "One share-one vote and the market for corporate control," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 175-202, January.
    See citations under working paper version above.
  13. Grossman, S J & Melino, Angelo & Shiller, Robert J, 1987. "Estimating the Continuous-Time Consumption-Based Asset-Pricing Model," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(3), pages 315-327, July.
    See citations under working paper version above.
  14. Sanford J. Grossman & Merton H. Miller, 1986. "Economic costs and benefits of the proposed one—minute time bracketing regulation," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 6(1), pages 141-166, March.

    Cited by:

    1. Craig Pirrong, 1996. "Market liquidity and depth on computerized and open outcry trading systems: A comparison of DTB and LIFFE bund contracts," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 16(5), pages 519-543, August.
    2. Dutta, Shantanu & Essaddam, Naceur & Kumar, Vinod & Saadi, Samir, 2017. "How does electronic trading affect efficiency of stock market and conditional volatility? Evidence from Toronto Stock Exchange," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 867-877.
    3. Gino Cenedese & Angelo Ranaldo & Michalis Vasios, 2018. "OTC premia," Bank of England Staff Working Paper series 751, Bank of England.

  15. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    See citations under working paper version above.
  16. Grossman, Sanford J, 1986. "An Analysis of the Role of "Insider Trading" on Futures Markets," The Journal of Business, University of Chicago Press, vol. 59(2), pages 129-146, April.

    Cited by:

    1. Peter-Jan Engelen & Luc Liedekerke, 2007. "The Ethics of Insider Trading Revisited," Journal of Business Ethics, Springer, vol. 74(4), pages 497-507, September.
    2. Scott H. Irwin & Dwight R. Sanders, 2011. "Index Funds, Financialization, and Commodity Futures Markets," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(1), pages 1-31.
    3. Rousse, O. & Sévi, B., 2016. "Informed trading in oil-futures market," Working Papers 2016-07, Grenoble Applied Economics Laboratory (GAEL).
    4. P. J. Engelen & L. Liedekerke, 2006. "An Ethical Analysis of Regulating Insider Trading," Working Papers 06-05, Utrecht School of Economics.
    5. Kabir, Rezaul & Vermaelen, Theo, 1996. "Insider trading restrictions and the stock market: Evidence from the Amsterdam Stock Exchange," European Economic Review, Elsevier, vol. 40(8), pages 1591-1603, November.
    6. Ming†Chang Wang & Lon†Ping Zu, 2013. "Trade Timing, Price Volatility and Serial Correlation," European Financial Management, European Financial Management Association, vol. 19(5), pages 911-934, November.
    7. Baur, Robert Frederick, 1992. "Overreaction in futures markets," ISU General Staff Papers 1992010108000010973, Iowa State University, Department of Economics.
    8. Soniya Mohil & Reena Nayyar & Archana Patro, 2020. "When is informed trading more prevalent?—An examination of options trading around Indian M&A announcements," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(6), pages 1011-1029, June.

  17. Grossman, Sanford J. & Perry, Motty, 1986. "Perfect sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 97-119, June.

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    Cited by:

    1. McNulty, Mark S., 1985. "Information usage in the formation of price expectations: theory and econometric tests," ISU General Staff Papers 1985010108000013085, Iowa State University, Department of Economics.
    2. Peter E. Rossi, 1984. "Stochastic Specification of Cost and Production Relationships," Discussion Papers 616, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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Chapters

  1. Sanford J. Grossman & Oliver Hart, 1987. "Vertical Integration and the Distribution of Property Rights," Palgrave Macmillan Books, in: Assaf Razin & Efraim Sadka (ed.), Economic Policy in Theory and Practice, chapter 14, pages 504-548, Palgrave Macmillan.

    Cited by:

    1. Valeria Gattai & Piergiovanna Natale, 2017. "A New Cinderella Story: Joint Ventures And The Property Rights Theory Of The Firm," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 281-302, February.
    2. Paul Walker, 2008. "The (non)Theory of the Knowledge Firm," Working Papers in Economics 08/07, University of Canterbury, Department of Economics and Finance.
    3. Thomas F. Hellmann & Veikko Thiele, 2012. "A Theory of the Firm based on Partner Displacement," NBER Working Papers 18495, National Bureau of Economic Research, Inc.
    4. Les Oxley & David Thorns & Paul Walker & Hong Wang, 2008. "The Knowledge Economy/Society: The Latest Example of “Measurement Without Theory”?," Working Papers in Economics 08/03, University of Canterbury, Department of Economics and Finance.
    5. Todorova, Tamara, 2010. "Vertical Integration in High-Transaction Cost Sectors: The Case of the Bulgarian Pharmaceutical Industry," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1(2 (Winter), pages 127-138.

  2. Sanford J. Grossman & Oliver D. Hart, 1982. "Corporate Financial Structure and Managerial Incentives," NBER Chapters, in: The Economics of Information and Uncertainty, pages 107-140, National Bureau of Economic Research, Inc.
    See citations under working paper version above.

Books

  1. Sanford Grossman, 1989. "The Informational Role of Prices," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262572141, December.

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    5. Catherine Gendron-Saulnier & Marc Santugini, 2013. "The Informational Benefit of Price Discrimination," Cahiers de recherche 13-02, HEC Montréal, Institut d'économie appliquée.
    6. Dejan Trifunović, 2008. "The Dual Role Of Equilibrium Price In Competitive Economies With Asymmetric Information," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 53(178-179), pages 7-43, July - De.
    7. Peter G. Klein, 2010. "F.A. Hayek," Chapters, in: Peter G. Klein & Michael E. Sykuta (ed.), The Elgar Companion to Transaction Cost Economics, chapter 8, Edward Elgar Publishing.
    8. Emilio Said, 2022. "Market Impact: Empirical Evidence, Theory and Practice," Working Papers hal-03668669, HAL.
    9. Jing Yang, 1999. "Heterogeneous Beliefs, Intelligent Agents, and Allocative Efficiency in an Artificial Stock Market," Computing in Economics and Finance 1999 612, Society for Computational Economics.
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    11. Barucci, Emilio & Landi, Leonardo, 1996. "Speculative dynamics with bounded rationality learning," European Journal of Operational Research, Elsevier, vol. 91(2), pages 284-300, June.
    12. Brock, W.A. & Hommes, C.H., 1997. "Models of Compelxity in Economics and Finance," Working papers 9706, Wisconsin Madison - Social Systems.
    13. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
    14. Julia Giese & Benjamin Nelson & Misa Tanaka & Nikola Tarashev, 2013. "Financial Stability Paper No 21: How could macroprudential policy affect financial system resilience and credit? Lessons from the literature," Bank of England Financial Stability Papers 21, Bank of England.
    15. Buiter, Willem, 2000. "Optimal Currency Areas: Why Does The Exchange Rate Regime Matter?," CEPR Discussion Papers 2366, Centre for Economic Policy Research.
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    17. Leonard J. Mirman & Egas M. Salgueiro & Marc Santugini, 2015. "Noisy Learning in a Competitive Market with Risk Aversion," Cahiers de recherche 1502, CIRPEE.
    18. Dunbar, Kwamie & Jiang, Jing, 2020. "What do movements in financial traders’ net long positions reveal about aggregate stock returns?," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    19. Agastya, Murali, 2003. "Insider Trading, Informational Effciency and Allocative Effciency," Working Papers 6, University of Sydney, School of Economics.
    20. Jengei Hong & Doojin Ryu, 2023. "Expectations and the housing market: A model of house price dynamics," Bulletin of Economic Research, Wiley Blackwell, vol. 75(4), pages 1242-1266, October.
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    22. Santosh Anagol & Shawn Cole & Shayak Sarkar, 2012. "Understanding the Advice of Commissions-Motivated Agents: Evidence from the Indian Life Insurance Market," Harvard Business School Working Papers 12-055, Harvard Business School, revised Oct 2015.
    23. Buiter, Willem H., 2000. "Optimal currency areas: why does the exchange rate regime matter? (with an application to UK membership in EMU)," LSE Research Online Documents on Economics 20178, London School of Economics and Political Science, LSE Library.
    24. Conghui Hu & Wei Xiong, 2013. "Are Commodity Futures Prices Barometers of the Global Economy?," NBER Working Papers 19706, National Bureau of Economic Research, Inc.
    25. Emilio Said, 2022. "Market Impact: Empirical Evidence, Theory and Practice," Papers 2205.07385, arXiv.org.
    26. Vahabi, Mehrdad, 2008. "From Walrasian general equilibrium to incomplete contracts : making sense of institutions," MPRA Paper 37887, University Library of Munich, Germany, revised 2002.
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    31. Nikola A. Tarashev, 2003. "Currency Crises and the Informational Role of Interest Rates," BIS Working Papers 135, Bank for International Settlements.
    32. Sukkoo Kim, 1999. "Urban Development in the United States, 1690-1990," NBER Working Papers 7120, National Bureau of Economic Research, Inc.
    33. Robert Faff & Jianning Huang & Pei Shao & Yuchao Xiao & Fuzhao Zhou, 2024. "Does Social Capital Enhance Stock Liquidity? An Investigation of the Resilience of the Trading Environment During a Crisis of Trust," Abacus, Accounting Foundation, University of Sydney, vol. 60(3), pages 627-664, September.
    34. Doroudian, Ali & Vercammen, James, 2012. "First and Second Order Impacts of Speculation on Commodity Price Volatility," Working Papers 126947, Structure and Performance of Agriculture and Agri-products Industry (SPAA).
    35. Giovanni Cespa & Xavier Vives, 2009. "Dynamic Trading and Asset Prices: Keynes vs. Hayek," CESifo Working Paper Series 2839, CESifo.
    36. Athreya, Kartik B., 2014. "Big Ideas in Macroeconomics: A Nontechnical View," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262019736, December.
    37. Doron Israeli & Charles M. C. Lee & Suhas A. Sridharan, 2017. "Is there a dark side to exchange traded funds? An information perspective," Review of Accounting Studies, Springer, vol. 22(3), pages 1048-1083, September.
    38. Alfarano, Simone & Camacho, Eva & Petrovic, Marko & Provenzano, Giulia, 2014. "The Interplay between Public and Private Information in Asset Markets: Theoretical and Experimental Approaches," FinMaP-Working Papers 9, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    39. Brock,W.A. & Hommes,C.H., 2002. "Heterogeneous beliefs and routes to complex dynamics in asset pricing models with price contingent contracts," Working papers 3, Wisconsin Madison - Social Systems.
    40. Marco Ottaviani & Peter Norman Sørensen, 2009. "Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets," Discussion Papers 09-14, University of Copenhagen. Department of Economics.
    41. Thiago Revil T. Ferreira & Michele Modugno & Berardino Palazzo & Carlos Ramírez, 2026. "Disruptions to Foreign Trade and U.S. Banks’ Returns," Finance and Economics Discussion Series 2026-013, Board of Governors of the Federal Reserve System (U.S.).
    42. Brian Sallans & Alexander Pfister & Alexandros Karatzoglou & Georg Dorffner, 2003. "Simulation and Validation of an Integrated Markets Model," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 6(4), pages 1-2.
    43. Elena Esposito, 2011. "The Future of Futures," Books, Edward Elgar Publishing, number 13975.
    44. Gibson, Rajna & Habib, Michel A. & Ziegler, Alexandre, 2014. "Reinsurance or securitization: The case of natural catastrophe risk," Journal of Mathematical Economics, Elsevier, vol. 53(C), pages 79-100.
    45. Hart, Oliver & Bebchuk, Lucian Arye, 2001. "Takeover Bids versus Proxy Fights in Contests for Corporate Control," CEPR Discussion Papers 3073, Centre for Economic Policy Research.
    46. Joost M. E. Pennings & Matthew T. G. Meulenberg, 1998. "New Futures Markets in Agricultural Production Rights: Possibilities and Constraints for the British and Dutch Milk Quota Markets," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 50-66, March.
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    53. Philip Mirowski, 2011. "The Spontaneous Methodology of Orthodoxy, and Other Economists’ Afflictions in the Great Recession," Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 20, Edward Elgar Publishing.
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