The paper investigates the pricing of derivative securities with calendar-time maturities.

In the presence of moral hazard, received agency theory predicts the Marshallian inefficiency of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. in this paper, we test for the presence…

In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product. The unit profit of operation is known with certainty but there is no…

Se establece una diferencia entre las características substantivas de la universidad y sus atributos autonómico y democrático, en el entendido de que la institución es primero "universidad", con sus actividades de docencia, investigación y extensión, y sólo luego, autónoma y…

We instillate rational cognition and learning in seemingly riskless choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. the theory predicts experimental preference reversals and passes a sharp econometric test of the…

This paper offers an explanation of rationally contracts where incompeteness refers to unforeseen contingencies. Agents enter a relationship with two-sided moral hazard in which a commitment to discard parts of the joint resources may be ex ante efficient.

A sustainable energy supply is arguably one of the most pressing problems facing
society today, so there is a huge demand for clean energy technologies. Photocatalytic
water splitting, the disassociation of water into H2 and O2 in the presence of…

Dans une époque de changements des moyens de représentation et communication en architecture, cette recherche porte sur l’enseignement de la conception architecturale et plus spécifiquement sur l’apport que l’informatique pourrait avoir dans ce processus. En nous basant sur une méthodologie…

In this paper we focus on the challenges in preserving indigenous knowledge systems. We explore the challenges of managing indigenous knowledge in the context of intellectual property rights and bio-piracy threats. We analyse how indigenous knowledge affects the lives of…

Human society passed various stages like hunting and gathering society, peasant society, Industrial society and post- industrial society. Post – industrial society is recognized as ‘Knowledge Society’. Knowledge is more valuable product than any other goods in knowledge society. Today…