Transaction demand refers to the motivation to complete a transaction. As transaction demand increases, owners should sell at lower prices and buyers should buy at higher ones. It was predicted that the endowment effect—the tendency for minimum selling price to exceed maximum buying price for a particular commodity—should be minimized when buyers and sellers have high transaction demand. The re...

Humans often lie strategically. We study this problem in an ultimatum game involving informed proposers and uninformed responders, where the former can send an unverifiable statement about their endowment. If there are some intrinsically honest proposers, a simple message game shows that the rest of them are likely to declare a lower-than-actual endowment to the responders. In the second part o...

We examine the optimal portfolio selection problem of a single agent who receives an unhedgeable endowment. The agent wishes to optimize his/her log-utility derived from his/her terminal wealth. We do not solve this problem analytically but construct a recursive computational algorithm which approximates the optimal one. We present an “intelligent” initial portfolio which requires, numerically,...

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Calcutta, December 21st, 1914. From The Honorary Secretary, The School of Tropical Medicine Endowment Fund, To The Surgeon-General with the Government of Bengal. Sir,?I have the honor to forward herewith the first subscription list of the School of Tropical Medicine Endowment Fund, showing a balance of Rs 1,72,351-7-0 to its credit. The expenses of printing and distributing the appeal have been...

We explore whether the recent laboratory findings that suggest the origin of endowment matters in simple bargaining games are actually due to contextual shifts of relative effort and deservingness. Results support previous findings of endowment origin yielding more self-interested behavior. Todd L. Cherry & Jason F. Shogren (2008) "Self-Interest, Sympathy And The Origin Of Endowments" Economic ...

CONDENSED statements of Association finances for the year 1952, prepared by the auditing firm of G. P. Graham & Company, are published herewith, in order that the entire membership may be fully informed regarding the financial operations, obligations, and resources of the AAAS. The first two statements summarize operating receipts and expenditures. Once again the annuity payments to the Cattell...

The present paper considers a retiree of a certain age with an initial endowment of investable wealth facing the following alternative investment opportunities. One possibility is to buy a single premium immediate annuity-contract. This insurance contract pays a life-long constant pension payment of a certain amount, depending e.g. on the age of the retiree, the operating cost of the insurance ...

This paper investigates the performance of copycat funds, which are free-riding on disclosed asset holdings of actively managed mutual funds. On average, copycat funds are able to marginally outperform their target mutual funds, but the relative success of copycat funds has increased after 2004, when SEC regulation imposed all mutual funds to quarterly disclose their holdings. We document a sub...

This paper is mainly concerned with the study in which how we can make our electronic transaction more safely and protective and also concerned with research of the security technology, key technology and current application protocol of payment transaction on network, and gives some useful suggestions and countermeasures for the development of protective payment transaction on network and safet...