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Intermediation in a Sharing Economy: Insurance, Moral Hazard, and Rent Extraction

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Product Market Competition and Option Prices

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Most firms face some form of competition in product markets. The degree of competition a firm faces feeds back into its cash flows and affects the values of the securities it issues. Through its effects on stock prices, product market competition affects t ...

OXFORD UNIV PRESS INC2019

Strategic Durability with Sharing Markets

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Electronic sharing markets are contributing to a paradigm shift, from consuming products to accessing products. This paper studies the effects of sharing markets on the prices for new products and on product design in terms of durability. In a dynamic econ ...

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Critical Infrastructure Resilience: Lessons from Insurance

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This policy brief suggests five factors and describes use cases to guide and inspire attempts to develop resilience-based insurance solutions and to enhance a positive feedback between insurance and resilience. ...

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This article summarizes the main topics and findings from the Swiss Risk and Insurance Forum 2018. That event gathered experts from academia, insurance industry, regulatory bodies, and consulting companies to discuss the challenges arising from the impact ...

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Strategic Objectives For State-Owned Enterprises As A Means To Mitigate Political Interference: An Empirical Analysis Of Two Swiss State-Owned Enterprises

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When governments act as owners of state-owned enterprises (SOEs), they are both principal and agent at the same time. The literature on steering SOEs has mainly focused on the government as the principal that must control SOEs. However, the government is a ...

WILEY2019

Equilibrium Models for Derivatives Markets with Frictions

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This thesis develops equilibrium models, and studies the effects of market frictions on risk-sharing, derivatives pricing, and trading patterns. In the chapter titled "Imbalance-Based Option Pricing", I develop an equilibrium model of fragmented options m ...

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The More Economic Approach To Predatory Pricing

The "more economic approach" was introduced to antitrust to achieve a more effect-based and theoretically grounded enforcement. However, related to predatory pricing it resulted in systematic over- and under-enforcement: Economic theory does not require do ...

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The Economics of Sharing Markets

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Sharing and redistributing assets between individuals has become a noticeable part of the economy. Ownership is no longer the sole mode of consumption and consumers have the option of choosing between ownership and access-based consumption. This change in ...

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Controlling and Pricing Shareability

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In the presence of a peer-to-peer economy, the option of sharing an item is valuable for consumers. By retaining control over the shareability of its products a monopolist can set a sharing tariff in conjunction with the purchase price of the product, in o ...

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Hybrid organizations influence on market competitive dynamics: the Azorean case

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Hybrid organizations are an increasing phenomenon in pluralistic environments of modern societies. As this phenomenon grows, it has become more and more common that hybrids and non-hybrids compete and interact in the same market. This paper aims at investi ...

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