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Farm investments in the European Union are supported by the governmental programmes. Th e evaluation of this programme is challenged through the voluntary participation and heterogeneous observation...
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...
How do managers set financial policy? This paper uses a sample of unconstrained firms making major investments to examine intended financial policy decisions. The analysis reveals that the financial p...
This paper studies the cost of capital for alternative investments. We document that the risk profile of the aggregate hedge fund universe can be accurately matched by a simple index put option writin...
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...
This paper examines the opportunities for nutritional investments in nine low-income Asian countries, where current levels of malnutrition are high and declining only slowly. Income growth alone is ...

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