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My name is Frank Wolak and I am the Holbrook Working Professor of Commodity Price Studies in Department of Economics and the Director of Stanford’s Program on Energy and Sustainable Development at Sta...
Planning and Timing and Scale of Lumpy Investments
We consider the portfolio choice problem for an investor interested in long-run growth optimality while facing drawdown constraints in a general continuous semimartingale model. The paper introduces t...
A fund manager is paid performance fees with a high-water mark provision, and invests both fund’sassets and private wealth in separate but potentially correlated risky assets, aiming to maximize ex-pe...
We study the Markov equilibria of a model of free riding in which n infinitely lived agents choose betweenprivate consumption and irreversible contributions to a durable public good. We show tha...
Assesses the status of methods for estimating contributions of federal water resource development projects with respect to regional economic development objectives in the United States. Objectives of ...
How do 'new media' or Internet-related companies raise external equity capital? In this paper, I analyze two markets that entrepreneurs of private Internet-related businesses use in the US to raise eq...
In this note we consider an investment problem in real estate. We show that it can be formulated in terms of a constrained optimization problem, and this leads to a linear rearrangement optimization p...
The recent crisis and the following flight to simplicity put most derivative businesses around the world under considerable pressure. We argue that the traditional mod- eling techniques must be exte...
In this paper, we discuss the Cram\'er-Lundberg model with investments, where the price of the invested risk asset follows a geometric Brownian motion with drift $a$ and volatility $\sigma> 0.$ By ass...
In this paper, we discuss the Cram\'er-Lundberg model with investments, where the price of the invested risk asset follows a geometric Brownian motion with drift $a$ and volatility $\sigma> 0.$ By as...
In Japan, there has been recent notable growth in the percentage of investments made by venture capitalists (VCists) in new technology-based firms (NTBFs) , as well as an increase in the active involv...
The aim of this work is to extend the capital growth theory devel-oped by Kelly, Breiman, Cover and others to asset market models with transaction costs. We define a natural generalization of the noti...
We consider an insurance company in the case when the premium rate is a bounded non-negative random function $c_\zs{t}$ and the capital of the insurance company is invested in a risky asset whose pri...
主讲人 Zhigang Li University of Hong Kong 题目 Measuring the Social Return to Infrastructure Investments Using Interregional Price Gaps: A Natural Experiment Curriculum Vita Name: Zhiga...

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