1 Variables collected 1.1 Household and individual level 1. Assets (a) Movable assets i. Livestock: Sum of all livestock assets owned by respondents in Kenyan Shillings, including cows, small livestock, and birds. ii. Furniture: Value of cupboards, sofas, chairs, tables, clocks, stoves, and beds as self reported in Kenyan Shillings. iii. Agricultural tools: Value of farming tools, wheelbarrows,...

This paper investigates the circumstances under which negotiating simultaneously over multiple issues or assets helps reduce ineffi ciencies due to the presence of asymmetric information. Consider the case where one agent controls all assets. One would expect that strong substitutabilities among assets, would help trade, as the seller would value the additional units less. We show that this int...

We show that idiosyncratic liquidity risk is positively priced in the cross-section of stock returns. Our measure of idiosyncratic liquidity volatility is based on a ”market” model for stock liquidity. Idiosyncratic volatility of liquidity is priced in the presence of systematic liquidity risk: the covariance of stock returns with aggregate liquidity, the covariance of stock liquidity with aggr...

The intertemporal CAPM predicts that an asset's price is equal to the expectation of the product of the asset's payoff and a representative consumer's intertemporal marginal rate of substitution. This paper develops an alternative approach to asset pricing based on industrial and financial corporations' desire to hoard liquidity to fulfill future cash needs. Our corporate finance approach to ma...

The Internet in its current form relies on extensive cooperation between network operators to ensure the integrity and security of its core infrastructure. Here we describe how routing registries can be used to improve the security of the Internet infrastructure in general and the BGP routing protocol in particular. Routing registries can be used to generate accurate prefix filter lists as well...

Argumentation theory is considered an interdisciplinary research area. Its techniques and results have found a wide range of applications in both theoretical and practical branches of artificial intelligence, education, and computer science. Most of the work done in argumentation use the on-line textual data (i.e. unstructured or semi-structured) which is intractable to be processed. This paper...

The present paper investigates the portfolio allocation decisions of an investor with infinite horizon when available financial assets differ in their degrees of liquidity. A model with risk neutral agents allows us to endogenously determine the liquidity premium. With risk averse agents, we develop a nontrivial portfolio allocation problem, which enables us to calculate the demand for an illiq...