In this paper, three dynamic pricing models are developed and analyzed. We assume a limited number of a particular asset is offered for sale over a period of time. This asset is perishable and can be an inventory or a manufacturing capacity. During each period, the seller sets a price for this asset. This price is selected from a predetermined discrete set. The maximum amount which a customer i...

Title of dissertation: ESSAYS ON ASSET PURCHASES AND SALES: THEORY AND EMPIRICAL EVIDENCE Liu Yang, Doctor of Philosophy, 2006 Dissertation directed by: Dr. Vojislav Maksimovic Department of Finance This dissertation consists of a theory essay and an empirical essay that investigate a firm’s decision to buy or sell corporate assets. It seeks to answer the following research questions: (1) why d...

Although asset policies and programs are seldom linked to wider theoretical debates in social welfare, this paper contends that an understanding of these debates contextualizes asset interventions and clarifies underlying values and ideological beliefs. Contrasting different normative perspectives in contemporary social welfare theory, the paper suggests that developmentalism offers a congenial...

We consider a simple uncertain-volatility model for the asset price underlying a given option market. The asset price volatility is assumed to follow a discrete (actually finite) Markov chain σ, which changes value on some fixed future times. The volatility chain is independent of the Brownian motion governing the future evolution of the asset. Modeling the volatility evolution in this way is e...

The recently developed long-run risks asset pricing model shows that concerns about long-run expected growth and time-varying uncertainty (i.e., volatility) about future economic prospects drive asset prices. These two channels of economic risks can account for the risk premia and asset price fluctuations. In addition, the model can empirically account for the cross-sectional differences in ass...

The management of engineering assets such as facilities and equipments can be a challenging task and optimising their usage is critical. To ensure effective utilization of an asset, one has to make effective decisions regarding the asset lifecycle. Consequently, it becomes imperative to gather useful information about the asset lifecycle. The objective of this paper is then to propose an approa...

Entrepreneurs need cash to finance their investments. Since cash is costly to hold, entrepreneurs underinvest. If entrepreneurs are able to access secondary financial markets, then they can sell some of their less liquid assets for cash and invest at a higher level. When the secondary financial markets are over-the-counter (OTC), the amount of liquidity (cash) that is in the market affects asse...

Business acquisition, resource redeployment, and asset divestiture are elements of a dynamic process in which firms change their businesses by recombining internal and external resources. Analyzing 253 horizontal acquisitions, we show that post-acquisition resource redeployment leads to asset divestiture from the business that receives the redeployed resources, but not from the business that co...

A stylized theory of money and central banking is added to a model of competitive equilibrium in asset markets to explain the determination of the general level of asset prices and interest rates. The cash-in-advance constraint provides a transactions demand for money, but this is not sufficient to guarantee the determinacy of the price level if liquidity is costless or the price level is uncer...

Prediction markets have demonstrated their value for aggregating collective expertise [Arrow et al. 2008]. Combinatorial prediction markets allow forecasts not only on base events, but also on conditional and/or Boolean combinations of events [Hanson 2007]. We describe a trade-based combinatorial prediction market asset management system, called Dynamic Asset Cluster (DAC), that improves both t...