When the increase in income reduces the time of search and increases prices of purchases, the increase in price can be presented as the increase in the willingness to pay for insurance. The optimal consumer decision represents the trade-off between the propensity to search for proficient...

This study investigates the relationship between mutual fund performance and fund manager’s characteristics by using quarterly data of 14 open end equity mutual funds during 2005(8) to 2008(8). Data were collected from the database of Mutual Funds Association of Pakistan (MUFAP) keeping age,...

We develop a model relating self-control, risk preferences and conflict identification to cooperation patterns in social dilemmas. We subject our model to data from an experimental public goods game and a risk experiment, and we measure conflict identification and self-control. As predicted, we...

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of health...

The idea of development of capital markets and hence securities firms had resurfaced after 1980’s in Turkey, the latest and probably the final liberal period of Turkish economy. First regulations on securities firm business appaeard after Banking Crisis of 1982 (or Banker Crisis). The number...

This paper not only recommends means whereby principal-agent problems could be addressed, but also considers various ways in which the external auditor and audit committees contribute as corporate governance tools. The impact of bank regulations on risk taking and the need for a consideration of...

Let X be a set of states, and let I be an infinite indexing set. Our first main result states that any separable, permutation-invariant preference order () on X^I admits an additive representation. That is: there exists a linearly ordered abelian group A and a `utility function' u:X--A such...

This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels – where there is scope for the abuse of powers. As well as illustrating why effective corporate governance systems are essential...

In this paper we analize the consistency of financial indexes and the ordering of investments based on the mean-variance and the stochastic dominance (SD) approaches. We take 47 mutual funds from the Chilean financial market in order to compute several algorithms that enable us to verify...

This paper examines the simultaneous relationship between bank capital and risk. A model is set up which assumes that banks’ decisions regarding capital and risk are made endogenously in a dynamic pattern. A simultaneous equation system was estimated using an unbalanced panel of SEE banks from...