Factoring services can be traced historically to Roman times. Closer to our own era, factors arose in England as early as the thirteenth century, as commissioned merchants for manufactures in distant, unfamiliar markets. These factors relieved manufacturers of selling and credit collection responsibilities and specialized in assessing the market's risk and collecting monies due. While demand fo...

Housing demand shocks in standard macroeconomic models are a primary source of house price fluctuations, but those have difficulties generating the observed large volatility prices relative to rents. We provide microeconomic foundation for reduced-form housing with tractable heterogenous-agent framework. In our model heterogeneous beliefs, an expansion credit supply raises optimistic buyers and...

OBJECTIVE Compulsive buying (uncontrolled urges to buy, with resulting significant adverse consequences) has been estimated to affect from 1.8% to 16% of the adult U.S. population. To the authors' knowledge, no study has used a large general population sample to estimate its prevalence. METHOD The authors conducted a random sample, national household telephone survey in the spring and summer ...

This paper studies temporary policy incentives designed to address capital overhang by inducing asset demand from buyers in the private market. Using variation across local geographies in ex ante program exposure and a difference-in-differences design, we find that the First-Time Homebuyer Credit induced a cumulative increase in home sales of 397 to 546 thousand, or 7.8 to 10.7 percent, nationa...

We investigate a finite-horizon dynamic pricing problem of seller under limited commitment. Even when the buyers are ex-ante symmetric to seller, can charge different prices buyers. show that class posted-price mechanisms this asymmetric treatment strictly revenue-dominates treatment. The im- plements by using priority-based deterministic tie-breaking rule instead random rule. effect on revenue...

this paper investigates the effect of formal information and rumors on the real buyers’ choice in tehran stock exchange. following this study, the question is what kind of information has an effect on buyers’ choice of shares? the purpose of this study is to identify information affecting buyers selected stocks, in order to offer some solutions to enhance stock exchange performance. in this stu...