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Mortgages characterized by negative or low early amortization schedules amplify the macroeconomic effects of a housing risk shock. We analyze the role of mortgage amortization in a two-sector DSGE model with housing risk and endogenous default. Mortgage lo ...
The increasing number of mobile applications fuels the demand for affordable and ubiquitous wireless access. The traditional wireless network technologies such as EV-DO or WiMAX provide this service but require a huge upfront investment in infrastructure a ...
In this work, we first revise some extensions of the standard Hopfield model in the low storage limit, namely the correlated attractor case and the multitasking case recently introduced by the authors. The former case is based on a modification of the Hebb ...
We investigate the role that strategic positioning choices and pre-entry endowments play in determining the post entry innovative performance of firms that enter new markets. We hypothesize that the flexibility enjoyed by small entrants allows them to posi ...
While established firms' relationships with external ventures may have significant strategic benefits, the realization of such benefits is fraught with considerable uncertainty. The real options and interorganizational learning literatures present an inter ...
In recent decades, the European postal industry has undergone profound reforms, which aim to promote competition while simultaneously maintaining a high level of universal services for consumers. It is often put forth that market opening and the emergence ...
Starting a new venture is arguably an exciting journey into previously unknown territories. Since entrepreneurs, through their economic activities, are central to social prosperity, academic research has a strong interest to understand who those entreprene ...
The choice of the firm's market environment is one of the fundamental decisions of firm founders. We study the pre-entry generation of founders' market choice sets by investigating their search for market opportunities in which the firm's technological res ...
The present thesis applies the property hedonic price model in order to assess the economic value of environmental amenities and discrimination on the Swiss rental markets of Geneva and Zurich. Indeed, economic textbooks teach that differentials in environ ...
Entrepreneurs play a fundamental role in bringing new technologies to market. Because technologies are often configurable to serve a variety of different markets, it is possible for entrepreneurs to identify multiple market opportunities prior to the first ...