• Callable risky perpetual debt : options, pricing and bankruptcy implications 

      Mjøs, Aksel; Persson, Svein-Arne (Discussion paper, Working paper, 2006-01-05)
      Issuances of perpetual risky debt are often motivated by capital requirements for financial institutions. However, observed market practice indicates that actual maturity equals first possible call date. We analyze callable ...
    • Capital structure and international debt shifting: a comment 

      Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm (Discussion paper, Working paper, 2008-08)
      In a recent article, Huizinga, Laeven and Nicodème (2008) present a novel model that motivates an extensive empirical analysis of international debt shifting. We point out that the model fails to account for internal ...
    • Capital Taxation and Imperfect Competition: ACE vs. CBIT 

      Brekke, Kurt; Pires, Armando José Garcia; Schindler, Dirk; Schjelderup, Guttorm (Discussion paper;37/14, Working paper, 2014-11)
      This paper studies the market and welfare effects of two main tax reforms – the Corporate Business Income Tax (CBIT) and the Allowance for Corporate Equity tax (ACE). Using an imperfect-competition model for a small open ...
    • Career concerns, monetary incentives and job design 

      Kaarbøe, Oddvar M.; Olsen, Trond E. (Discussion paper, Working paper, 2003-12)
      We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the principal might want ...
    • Career concerns, multiple tasks, and short-term contracts 

      Kaarbøe, Oddvar M.; Olsen, Trond E. (Discussion paper, Working paper, 2000-12)
      We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the optimal compensation ...
    • Cashier fraud : data analysis in a context 

      Lillestøl, Jostein (Discussion paper, Working paper, 1999)
      A true story is told about the role of a statistical expert witness in a cashier fraud case. It illustrates Shewhart’s first principle of understanding data: "Data have no meaning apart from their context". It may be used ...
    • Centrality Computation in Weighted Networks Based on Edge-Splitting Procedure 

      Belik, Ivan; Jörnsten, Kurt (Discussion paper;40/14, Working paper, 2014-12)
      The analysis of network’s centralities has a high-level significance for many real-world applications. The variety of game and graph theoretical approaches has a paramount purpose to formalize a relative importance of ...
    • Channel Coordination in a Multi-period Newsvendor Model with Dynamic, Price-dependent Stochastic Demand 

      Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;6/16, Working paper, 2016-03-17)
      In this study, we extend the single-period newsvendor problem with stochastic demand into a multi-period and time-dependent one and find a solution for it. We analyze the multi-period newsvendor problem with stochastic ...
    • The choice of seasoned-equity selling mechanism : theory and evidence 

      Eckbo, B. Espen; Norli, Øyvind (Discussion paper, Working paper, 2004-11)
      Extending the Myers and Majluf (1984) framework, we present a model for the choice of seasoned-equity selling mechanism. A sequential pooling equilibrium exists which implies a positive market reaction to certain flotation ...
    • Closed form spread option valuation 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper, Working paper, 2006-10)
      This paper considers the valuation of a spread call when asset prices are lognormal. The implicit strategy of the Kirk formula is to exercise if the price of the long asset exceeds a given power function of the price of ...
    • Closed form valuation of American options 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper, Working paper, 2002)
      This paper presents a simple and intuitive approximation of the American call and put value. The approximation generalizes the Bjerksund-Stensland model by dividing time to maturity into two periods, each with a flat early ...
    • Coalition Formation with Externalities: The Case of the Northeast Atlantic Mackerel Fishery in a Pre and Post Brexit Context 

      Toumasatos, Evangelos; Steinshamn, Stein Ivar (Discussion paper;11/17, Working paper, 2017-10-18)
      In this paper we apply the so-called partition function approach to study coalition formation in the North-east Atlantic mackerel fishery in the presence of externalities. Atlantic mackerel is mainly exploited by the ...
    • Combatting corruption through collective action : circumstances that make a company take part in collective action agreements 

      Beinset, Andrea Røyrøy; Berger, Andreas Fogth (Master thesis, 2017)
      Many international firms and local companies are operating in markets that are exposed to corruption. Corruption increases the cost of doing business and has harmful consequences on the society. Multinational corporations ...
    • Combined vehicle routing and scheduling with temporal precedence and synchronization constraints 

      Bredström, David; Rönnqvist, Mikael (Discussion paper, Working paper, 2006)
      We present a mathematical programming model for the combined vehicle routing and scheduling problem with time windows and additional temporal constraints. The temporal constraints allow for imposing pairwise synchronization ...
    • Commodity price modeling that matches current observables : a new approach 

      Miltersen, Kristian R. (Discussion paper, Working paper, 2002)
      We develop a stochastic model of the spot commodity price and the spot convenience yield such that the model matches the current term structure of forward and futures prices, the current term structure of forward and futures ...
    • Common agency with outside options : the case of international taxation of an MNE 

      Olsen, Trond E.; Osmundsen, Petter (Discussion paper, Working paper, 1999)
    • Common mistakes in computing the nucleolus 

      Guajardo, Mario; Jörnsten, Kurt (Discussion paper;15/14, Working paper, 2014-04)
      Despite linear programming and duality have correctly been incorporated in algorithms to compute the nucleolus, we have found mistakes in how these have been used in a broad range of applications. Overlooking the fact ...
    • Competitive nash equilibria and two period fund separation 

      Hens, Thorsten; Reimann, Stefan; Vogt, Bodo (Discussion paper, Working paper, 2003-11)
      We suggest a simple asset market model in which we analyze competitive and strategic behavior simultaneously. If for competitive behavior two-fund separation holds across periods then it also holds for strategic behavior. ...
    • Compound contingent claims 

      Lindset, Snorre (Discussion paper, Working paper, 2002-12)
      This paper explores similarities and differences between a compound option and a two-period guarantee. A generalised compound contingent claim that captures these two claims as special cases is constructed. The underlying ...
    • Conditions for effective risk sharing against marine pollution: the case of the Ría de Vigo 

      Grossmann, Schimon; Faure, Michael (Discussion paper;1/17, Working paper, 2017-01-31)
      The question of how effective protection against environmental impairment can be provided has spawned much literature. One instrument that is often invoked to provide compensation for environmental damage is insurance. ...