We characterize the joint dynamics of expected returns, stochastic volatility, and prices. In particular, with a given dividend process, one of the processes of the expected return, the stock volatility, or the price-dividend ratio fully determines the other two. For example, the stock volatility determines the expected return and the price-dividend ratio. By parameterizing one, or more, of exp...

Using the Nielsen Consumer Panel, we document the presence of significant price heterogeneity in the United States. Poor households pay lower prices for the same products, mostly because they shop more at discount stores. However, we also find that price heterogeneity has a very small impact on the measurement of consumption inequality. Adjusting nominal household expenditures by imposing that ...

Various researchers (i.e., Singelis, Triandis, Bhawuk, & Gelfand,1995; Triandis & Gelfand, 1998) have suggested that the cultural variables of horizontal and vertical individualism and collectivism correspond to Fiske’s (1991, 1992) relational models of collectivism, authority ranking, equality matching, and market pricing. In this study, we tested this claim in a cross-cultural comparison betw...

Some new oscillation criteria are presented by transforming this equation to the first-order delayed and advanced differential equations. Employing suitable comparison theorems we establish new results on oscillation of the studied equation. Assumptions in our theorems are less restrictive, these criteria improve those in the recent paper [Appl. Math. Comput., 202 (2008), 102-112] and related c...

At each point in time, price dynamics in a market are determined by a market for access to trading partners, implemented by competitive profitmaximizing brokers. This mechanism is applied to a market in which the value of a good declines over time and buyers decide optimally when to reenter the market and buy a new unit. Price adjustment paths in response to increases and decreases in demand ar...

The Digital Water Education Library collection (DWEL) is being generated by primary and secondary school teachers in the United States. This complex process involves both individual research and team design, and the use of a variety of online tools, such as an online cataloguing tool. Interactions amongst DWEL members are being ethnographically analysed in order to identify requirements for fur...

The article investigates the Swedish retail banks’ application of price bundling in order to attract new customers, students. This is done through a customer survey about students’ preferences concerning retail banking services, their price sensitiveness and banking behaviour. The conjoint analysis results showed that the students had relatively heterogeneous preferences, and four distinguishin...

The struggle of poor women and men in developing countries to ensure sufficient nutritious food for their families has been regularly reported in the media in Northern and Southern countries over the past four years. The global food price spikes have increased undernourishment by almost seven percent, and have driven at least 100 million more people into poverty. By 2050, the world population w...

Auctions with variable supply are multi-unit auctions, in which the seller determines the supply quantity as a function of the bidding. These auctions are used on various markets ranging from Treasury bills and IPOs to rare wine and art. In this work we compare in a common value model the mixed strategy subgame perfect equilibria and the rationalizable strategies of the uniform price and the di...

Cerebral ischemic stroke is a major reason for death in Germany and worldwide. Although lots of research has been done on longtime (3 hrs – 27 days) stroke growth, not much is known about the acute stroke growth. In this paper a method for the image based analysis and visualization of short-time infarct growth in murine model based on time resolved T2* MR image sequences is presented. After man...