...Analyse & Kritik 29/2005 ( c Lucius & Lucius, Stuttgart) p. xxx–xxx Herbert Gintis Behavioral Game Theory and Contemporary Economic Theory Abstract: It is widely believed that experimental results of behavioral game theory undermine standard economic and game theory. This paper suggests that experimental results present serious theoretical modeling challenges, but do not undermine two pillars of contemporary economic theory: the rational actor model, which holds that individual choice can be modeled as maximization of an objective function subject to informational and material constraints, and the incentive compatibility requirement, which holds that macroeconomic quantities must be derived from the interaction and aggregation of individual choices. However, we must abandon the notion that rationality implies self-regarding behavior and the assumption that contracts are costlessly enforced by third parties. 1. Introduction The articles that serve as the focus of this Symposium on Altruism are among the best of a new genre. The genre is behavioral game theory, which may be loosely defined as the application of game theory to the design of laboratory experiments. Behavioral game theory aims to determine empirically how individuals make choices under conditions of uncertainty and strategic interaction. It is widely believed that experimental results of behavioral game theory undermine standard economic and game theory. This paper suggests that experimental results present...
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...Foundations of Financial Markets and Institutions, 4e (Fabozzi/Modigliani/Jones) Chapter 2 Financial Institutions, Financial Intermediaries, and Asset Management Firms Multiple Choice Questions 1 Financial Institutions 1) Financial enterprises, more popularly referred to as financial institutions, provide a variety of services. Which of the below is NOT one of these? A) Transform financial assets acquired through the market and constituting them into a different, and more widely preferable, type of asset–which becomes their liability. B) Exchange financial assets on behalf of customers but not for their own accounts. C) Manage the portfolios of other market participants. D) Assist in the creation of financial assets for their customers, and then sell those financial assets to other market participants. Answer: B Comment: Financial enterprises exchange financial assets both on behalf of customers and for their own accounts. Diff: 2 Topic: 2.1 Financial Institutions Objective: 2.1 the business of financial institutions 2) Financial intermediaries include ________ that acquire the bulk of their funds by offering their liabilities to the public mostly in the form of deposits; insurance companies, pension funds, and finance companies. A) depository institutions B) utilities C) initial public offerings D) preferred equity instrument. Answer: A Diff: 1 Topic: 2.1 Financial Institutions Objective: 2.1 the business of financial institutions 3)...
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...| | | Dividend Policies Cogeco Cable Inc., Shaw Communications, & Cablevision Systems Corp. | Kristina Kacanski (211565827), Wei Fu (211521242), Guillaume Lacour (213242003)FINE3100 Karen Chiykowski November 14, 2013 | Table of Contents Executive Summary 3 Industry Analysis 4 Business Strategy 5 Industry Dividend Analysis 7 Cogeco Cable Inc. Dividend History 7 Shaw Communications Dividend History 9 CableVision Systems Corp. Dividend History. 9 Dividend Policy Recommendation 10 End Notes 12 Appendices 13 Appendix A: Porter’s Five Forces Analysis 15 i. Porter's Analysis ii. Summary Appendix B: Damodaran’s Dividend Policy and Frictions/Market Imperfections 15 i. Equity Trade Off and Life Cycle of a Firm Appendix C: Revenue Streams. 16 Appendix D: Cogeco Cable Inc. Tables 17 i. Cogeco Cable Inc. - Revenue ii. Cogeco Cable Inc. - Cash iii. Cogeco Cable Inc. - Market iv. Cogeco Cable Inc. - Dividends v. Cogeco Cable Inc. - Ratios Appendix E: Shaw Communications Tables 19 i. Shaw Communications - Revenue ii. Shaw Communications - Cash iii. Shaw Communications - Market iv. Shaw Communications - Dividends v. Shaw Communications - Ratios Appendix F: Cablevision Systems Corp. Tables 22 i. CableVision Systems Corp. - Revenue ii. CableVision Systems Corp. - Cash iii. CableVision Systems Corp. - Market iv. CableVision Systems Corp. - Dividends v. CableVision Systems Corp. -...
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...Foundations of Financial Markets and Institutions, 4e (Fabozzi/Modigliani/Jones) Chapter 2 Financial Institutions, Financial Intermediaries, and Asset Management Firms Multiple Choice Questions 1 Financial Institutions 1) Financial enterprises, more popularly referred to as financial institutions, provide a variety of services. Which of the below is NOT one of these? A) Transform financial assets acquired through the market and constituting them into a different, and more widely preferable, type of asset–which becomes their liability. B) Exchange financial assets on behalf of customers but not for their own accounts. C) Manage the portfolios of other market participants. D) Assist in the creation of financial assets for their customers, and then sell those financial assets to other market participants. Answer: B Comment: Financial enterprises exchange financial assets both on behalf of customers and for their own accounts. Diff: 2 Topic: 2.1 Financial Institutions Objective: 2.1 the business of financial institutions 2) Financial intermediaries include ________ that acquire the bulk of their funds by offering their liabilities to the public mostly in the form of deposits; insurance companies, pension funds, and finance companies. A) depository institutions B) utilities C) initial public offerings D) preferred equity instrument. Answer: A Diff: 1 Topic: 2.1 Financial Institutions Objective: 2.1 the business of financial institutions 3)...
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...Exchange (BancABC annual report 2009) During 2014, the ABC Holdings Group was acquired by Atlas Mara. As at 31 December 2014, Atlas Mara had a 98.7% equity stake in ABC Holdings, held directly (60.8%) and indirectly (37.9%). Subsequent to the takeover, ABC Holdings was delisted from the Botswana Stock Exchange on 30 January 2015, and from Zimbabwe Stock Exchange on 12 February 2015.Atlas Mara is a British Virgin Islands registered company with a standard listing on the London Stock Exchange(BancAbc Annual report 2014) The seeks to review the credit risk management methods implemented by the bank . Definition of terms 2.3.1Credit According to Onyeagocha (2001), the term credit is used specifically to refer to the faith placed by a creditor in a debtor by extending a loan usually in the form of money, goods or securities to a debtor .According to Onyeagocha‘sview for a bank to grant some credit to its client there should be element of creditworthiness on the part of the borrower. Credit can also be defined as a transaction between two parties in which the creditor...
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...An integrated approach or understanding of earth including the oceans is vital if we have to effectively and sustainably manage earth’s energy, water, mineral, soil and coastal resources for our future generations. A stand-alone view of various phenomena will not serve any purpose as any independent model is unable to sustain the variability of the complexities involved in the earth and ocean sciences, which are gradually converging. It has therefore become imperative to understand the interdependence and coupling of geological sciences and oceanography. The combined approach to earth and ocean sciences is also the key to predicting and managing natural disasters or hazards like earthquakes, cyclones, floods, tsunami, etc. In this context, in a significant development in India, a Ministry of Earth Sciences (MoES) was formed in July 2006 by restructuring the former Ministry of Ocean Development. The MoES deals with matters relating to meteorology, seismology, climate and environmental science and related earth sciences including ocean science and technology. It facilitates an integrated view of earth systems viz., ocean, atmosphere and land to provide best possible services in respect of ocean resources, ocean state, monsoon, cyclone, earthquake, tsunami, climate change, etc. The MoES oversees research in earth system sciences, forecast monsoons and other climate parameters, ocean state, earthquakes, tsunamis and earth science phenomena. The ministry also supports industry...
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...SUMMER TRAINING REPORT ON INVESTMENT STRATEGY OF INVESTOR IN STOCK MARKET AT Submitted in partial fulfillment of the requirements of Post Graduate Diploma in Business Management Under the guidance of Faculty guide Company guide Miss. Sudhi Sharma Mr. Prabhpreet Singh Submitted By: Priyanka Singh PGDM III SEM (2010-2012) Roll No. -1370 Dr. Gaur Hari Singhania Institute of Management Research Jaykaylon Colony, Kamla Nagar, Kanpur-208005 ACKNOWLEDGEMENT I would like to express my gratitude to all those who gave me the possibility to complete this project. I would like to thank my college authorities for providing me the opportunity to work with one of the most prestigious organization. I want to thank the Head of training department Prof. Sunil Gupta for giving me permission to commence this project in first instance, to do necessary research work. I would like to extend my thanks to Kotak Securities Ltd for granting me this project. My sincere thanks to Mr. Prabhpreet Singh, Branch Manager, Kotak Securities Ltd, Kanpur for his valuable suggestions and who has been a great source of inspiration for me to work hard with sincerity. I would also like to thank Miss. Saumya...
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...Department of Business Administration BUSN69, Degree Project – Accounting and Auditing Master Thesis, 15 ECTS Spring 2014 The evolution of CSR Reporting in the Banking Sector of Greece An analysis of specific characteristics of CSR Reporting Author Papakostopoulos, Georgios Supervisors Jonnergård, Karin Loft, Anne 2014-10-20 1 2 Abstract Title The evolution of CSR Reporting in the Banking Sector of Greece An analysis of specific characteristics of CSR Reporting. Seminar Date 2014-06-02 Course BUSN69, Degree Project – Accounting and Auditing Author Georgios Papakostopoulos Supervisors Karin Jonnergård and Anne Loft Keywords Banks, CSR, Development, Reporting, Standardisation Purpose This thesis aims to examine the development of CSR reporting in the banking sector. The emphasis is set on a number of characteristics. Trends for standardization will be also examined Methodology The methodology undertaken is generally based on a qualitative research approach through a combination of content analysis with interviews. The research has a partly longitudinal, inductive and comparative character. Theoretical Perspectives The theoretical aspects that were used in the analysis were a combination of the theoretical framework of the Legitimacy, Stakeholder and Institutional theory with the reporting requirements from a number of standards, guidelines, initiatives and indices. Empirical Foundation ...
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...HAL R. VARIAN 1 NORTON To my parents Copyright @ 1992, 1984, 1978 by W. W. Norton & Company, Inc. All rights reserved Printed in the United States of America THIRD EDITION Library o Congress Cataloging-in-Publication Data f Varian, Hal R. Mlcroeconon~lc analysis / Hal R. Varian. -- 3rd ed. p. an Includes blbllographlcal references and index. 1. Mlcroeconomlcs. 1. Title. HB172.V35 1992 338.5--dc20 ISBN 0-393-95735-7 W. W. Norton & Company, Inc., 500 Fifth Avenue, New York, N.Y. 10110 W. W. Norton & Company, Ltd., 10 Coptic Street, London WClA 1PU CONTENTS PREFACE 1 Technology Measurement of inputs and outputs 1 Specification of technology 2 Example: Input requzrement set Example: Isoquant Example: Shortrun productzon posszbzlztzes set Example: Pt-oductzon functzon Example: Transformatzon functzon Example: Cobb-Douglas technology Example: Leontzef technology Activity analysis 5 Monotonic technologies 6 Convex technologies 7 Regular technologies 9 Parametric representations of technology 10 The technical rate of substitution 11 Example: T R S for a Cobb-Douglas technology The elasticity of substitution 13 Example: The elastzczty of substztutzon for the Cobb-Douglas productzon functzon Returns to scale 14 Example: Returns to scale and the Cobb-Douglas technology Homogeneous and homothetic technologies 17 Example: The CES productzon functzon Exercises 21 2 Profit Maximization . Profit maximization 25 Difficulties 28 Example:...
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...高盛财经词典 - 汉英对照 中文词句 安静申请 English Terms Quiet Filing English Definitions The name given to an IPO filing where important details are intentionally excluded. Sent to the SEC in order to begin the process of issuing a new security, these details must be submitted through amendments. This form of filing generally takes longer than the conventional methods. 安全投资转移 Flight to Quality When investors move their capital to the safest possible investment vehicle. It is usually caused by uncertainty in the financial markets. 按比例 巴黎俱乐部 Pro Rata Paris Club Used to describe a proportionate allocation. A monthly meeting, taking place in Paris, between the creditors of 19 countries for the purpose of discussing debt issues. Among other things, the Paris Club addresses the issue of coordinated debt relief for developing countries that cannot service their debt. 白皮书 White Paper An informational document issued by companies trying to promote or highlight the significance of a planned product or service 白武士 White Knight A company that makes a friendly takeover offer for the control of a target company that is being faced with a hostile takeover from a separate party. 白象 White Elephant Any investment that nobody wants because it is a money loser. 半可变因素 Semi-Variable Cost A cost composed of a mixture of fixed and variable components. Costs are fixed for a set level of production or consumption, becoming variable after the level is exceeded. 半年 保管人 Semi-annual Custodian An event that occurs twice in...
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...MAKING ENTERPRISE RISK MANAGEMENT PAY OFF Thomas L. Barton William G. Shenkir Paul L. Walker Prentice Hall PTR One Lake Street Upper Saddle River, NJ 07458 www.phptr.com Editorial/Production Supervision: KATHLEEN M. CAREN Executive Editor: JIM BOYD Marketing Manager: BRYAN GAMBREL Manufacturing Manager: MAURA ZALDIVAR Cover Design: TALAR BOORUJY ©2002 Financial Executives Research Foundation, Inc. Published by Financial Times/Prentice Hall PTR Pearson Education, Inc. Upper Saddle River, NJ 07458 Prentice Hall books are widely used by corporations and government agencies for training, marketing, and resale. The publisher offers discounts on this book when ordered in bulk quantities. For more information, contact: Corporate Sales Department, Phone: 800-382-3419; Fax: 201-236-7141; E-mail: corpsales@prenhall.com; or write: Prentice Hall PTR, Corp. Sales Dept., One Lake Street, Upper Saddle River, NJ 07458. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 ISBN 0-13-008754-8 Pearson Education LTD. Pearson Education Australia PTY, Limited Pearson Education Singapore, Pte. Ltd. Pearson Education North Asia Ltd. Pearson Education Canada, Ltd. Pearson Educación de Mexico, S.A. de C.V. Pearson Education—Japan Pearson Education Malaysia, Pte. Ltd. Pearson Education, Upper Saddle River, New Jersey A D V I S O R Y C O...
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...Integrating ERP, CRM, Supply Chain Management, and Smart Materials Dimitris N. Chorafas AUERBACH Library of Congress Cataloging-in-Publication Data Chorafas, Dimitris N. Integrating ERP, CRM, supply chain management, and smart materials / Dimitris N. Chorafas. p. cm. Includes bibliographical references and index. ISBN 0-8493-1076-8 (alk. paper) 1. Business logistics. 2. Customer relations. I. Title. HD38.5 .C44 2001 658.5—dc21 2001022227 This book contains information obtained from authentic and highly regarded sources. Reprinted material is quoted with permission, and sources are indicated. A wide variety of references are listed. Reasonable efforts have been made to publish reliable data and information, but the author and the publisher cannot assume responsibility for the validity of all materials or for the consequences of their use. Neither this book nor any part may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, microfilming, and recording, or by any information storage or retrieval system, without prior permission in writing from the publisher. The consent of CRC Press LLC does not extend to copying for general distribution, for promotion, for creating new works, or for resale. Specific permission must be obtained in writing from CRC Press LLC for such copying. Direct all inquiries to CRC Press LLC, 2000 N.W. Corporate Blvd., Boca Raton, Florida 33431. Trademark Notice: Product or corporate names may be trademarks...
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...CORPORATE FINANCE T H IRD E DIT ION JONATHAN BERK STANFORD UNIVERSITY PETER D E MARZO STANFORD UNIVERSITY Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo To Rebecca, Natasha, and Hannah, for the love and for being there —J. B. To Kaui, Pono, Koa, and Kai, for all the love and laughter —P. D. Editor in Chief: Donna Battista Acquisitions Editor: Katie Rowland Executive Development Editor: Rebecca Ferris-Caruso Editorial Project Manager: Emily Biberger Managing Editor: Jeff Holcomb Senior Production Project Manager: Nancy Freihofer Senior Manufacturing Buyer: Carol Melville Cover Designer: Jonathan Boylan Cover Photo: Nikreates/Alamy Media Director: Susan Schoenberg Content Lead, MyFinanceLab: Miguel Leonarte Executive Media Producer: Melissa Honig Project Management and Text Design: Gillian Hall, The Aardvark Group Composition and Artwork: Laserwords Printer/Binder: R.R. Donnelley/Jefferson City Cover Printer: Lehigh Phoenix Text Font: Adobe Garamond Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on the appropriate page within text and on this copyright page. Credits: Cover: Sculpture in photo: Detail of Flamingo (1973), Alexander Calder. Installed in Federal Plaza, Chicago. Sheet metal and paint, 1615.4 x 1828.8 x 731...
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...CORPORATE FINANCE T H IRD E DIT ION JONATHAN BERK STANFORD UNIVERSITY PETER D E MARZO STANFORD UNIVERSITY Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo To Rebecca, Natasha, and Hannah, for the love and for being there —J. B. To Kaui, Pono, Koa, and Kai, for all the love and laughter —P. D. Editor in Chief: Donna Battista Acquisitions Editor: Katie Rowland Executive Development Editor: Rebecca Ferris-Caruso Editorial Project Manager: Emily Biberger Managing Editor: Jeff Holcomb Senior Production Project Manager: Nancy Freihofer Senior Manufacturing Buyer: Carol Melville Cover Designer: Jonathan Boylan Cover Photo: Nikreates/Alamy Media Director: Susan Schoenberg Content Lead, MyFinanceLab: Miguel Leonarte Executive Media Producer: Melissa Honig Project Management and Text Design: Gillian Hall, The Aardvark Group Composition and Artwork: Laserwords Printer/Binder: R.R. Donnelley/Jefferson City Cover Printer: Lehigh Phoenix Text Font: Adobe Garamond Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on the appropriate page within text and on this copyright page. Credits: Cover: Sculpture in photo: Detail of Flamingo (1973), Alexander Calder. Installed in Federal Plaza, Chicago. Sheet metal and paint, 1615.4 x 1828.8 x 731...
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...USA $25.95 CANADA $27.95 • W h y do our headaches persist after taking a one-cent aspirin but disappear when we take a 50-cent aspirin? • Why does recalling the Ten Commandments reduce our tendency to lie, even when we couldn't possibly be caught? • W h y do we splurge on a lavish meal but cut coupons to save 25 cents on a can of soup? • W h y do we go back for second helpings at the unlimited buffet, even when our stomachs are already full? • And how did we ever start spending $4.15 on a cup of coffee when, just a few years ago, we used to pay less than a dollar? hen it comes to making decisions in our lives, we think we're in control. We think we're making smart, rational choices. But are we? In a series o f illuminating, often surprising experi ments, M I T behavioral economist Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. Blending everyday experience with ground breaking research, Ariely explains how expectations, emotions, social norms, and other invisible, seemingly illogical forces skew our reasoning abilities. N o t only do we make astonishingly simple mistakes every day, but we make the same types of mistakes, Ariely discovers. We consistently overpay, underestimate, and procrastinate. We fail to understand the profound effects of our emotions on what we want, and we overvalue what we already own. Yet these misguided behaviors are neither random nor senseless. They're systematic and predict able—making us predictably irrational...
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