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"-" : " " }function CreateXmlHttpObj1() {try {XmlHttpObj1 = new ActiveXObject("Msxml2.XMLHTTP");}catch(e) {try{XmlHttpObj1 = new ActiveXObject("Microsoft.XMLHTTP");}catch(oc) {XmlHttpObj1 = null;}}if(!XmlHttpObj1 && typeof XMLHttpRequest != "undefined") {XmlHttpObj1 = new XMLHttpRequest();}}function loadingTime() {//calculate the current time in afterloadvar afterload = (new Date()).getTime();//calculate the secondsclientTime = (afterload-beforeload)/1000;serverTime =  parseFloat(document.getElementById("serverTime").innerHTML);totalTime = (clientTime + serverTime).toFixed(3);document.getElementById("loadingtime").innerHTML = "and delivered in " + totalTime + " seconds";}function addLoadEvent(func) {var oldonload = window.onload;if (typeof window.onload != 'function') {window.onload = func;} else {window.onload = function() {if (oldonload) {oldonload();}func();}}}</script>    <title>SSRN JEL Code: D51</title>    <meta http-equiv="X-UA-Compatible" content="IE=edge">    <meta name="viewport" content="width=device-width, initial-scale=1">    <meta name="robots" content="noindex">        <meta name="description" content="SSRN JEL Code: D51">        <meta name="keywords" content="SSRN, JEL Code: D51">        <link rel="search"              type="application/opensearchdescription+xml"  href="https://privpapers.ssrn.com/sol3/opensearchdescription.xml"              title="SSRN" />    <script src="https://ajax.googleapis.com/ajax/libs/jquery/1.12.4/jquery.min.js"></script></head>    <body class="new-layout"><div id="genericToastr" class="generic-toastr"><div class="toastr-icon"><i id="toastrIcon"></i></div><div id="toastrMessage" class="toastr-mesage"></div><div class="toastr-close"><i class="icon icon-gizmo-delete" onclick="closeToastr()"></i></div><div class="toastr-link"><a id="toastrLink" href="#"></a></div></div>    <script language="javascript">//Language functionsfunction changeLanguage1(language, response){$.ajax({url: '/AltLanguage_ajax.cfm?type=changeLanguage&partid=1&strCode=en',cache: false,success: function(data) {// Update values in cookiesSet_Cookie('SITEID',language,'-1','/','.ssrn.com','');Set_Cookie('SITEID',language,'1000','/','.ssrn.com','');// Finally, perform redirectionif (response == 'reload') {window.location.reload();}else {window.location.href=response;}}});}function Set_Cookie( name, value, expires, path, domain, secure ) {// set time, its in millisecondsvar today = new Date();today.setTime( today.getTime() );/*if the expires variable is set, make the correctexpires time, the current script below will setit for x number of days, to make it for hours,delete * 24, for minutes, delete * 60 * 24*/if ( expires ) {expires = expires * 1000 * 60 * 60 * 24;}var expires_date = new Date( today.getTime() + (expires) );document.cookie = name + "=" +escape( value ) +( ( expires ) ? 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class="box-container"><header><form name="searchForm" id="searchForm" action="?form_name=Jel&code=D51&lim=false" method="post">    <h1 class="section-title">    <div>Search Results</div>    <span>JEL Code: D51</span></h1>            <div class="organization-header">
            <div class="info">
                
                                
                
                    <strong>    89,465 </strong>Total downloads
                                
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                                                                                      <div class="note note-list">                                                                                <span>Number of pages: 45</span>                                                                                                                    <span>Posted: 21 Mar 2001</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a 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Optimal Policies, and Asset Prices</span></a></h3><div class="reference">NYU Working Paper No. S-CDM-03-20</div><div class="note note-list"><span>Number of pages: 46</span><span tabindex="0">Posted: 05 Nov 2008</span></div></div><div class="downloads"><span>Downloads</span><span>   79</span></div></div><div class="trow"><div class="actions"><a title="Free paper" href="javascript:void(0);" role="button" class="tooltip-icon-a"><i class="icn icn-free" aria-hidden="true"></i></a></div><div class="description"><h3><a class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=1295233" tabindex="0"><span>A Model of Credit Risk, Optimal Policies, and Asset Prices</span></a></h3><div class="reference">NYU Working Paper No. FIN-00-029</div><div class="note note-list"><span>Number of pages: 41</span><span tabindex="0">Posted: 04 Nov 2008</span></div></div><div class="downloads"><span>Downloads</span><span>   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                                              <span>Posted: 22 Dec 2001</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=16892" target="_blank">Suleyman Basak</a>                                    </div>                                    <div class="afiliations">                                    London Business School                                    </div>                                 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                                                                                     <div><i>Cowles Foundation Discussion Paper No. 1709</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 51</span>                                                                                                                    <span>Posted: 18 Jun 2009</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                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Dubey</a>                                    </div>                                    <div class="afiliations">                                    Yale University and SUNY Stony Brook - Center for Game Theory in Economics                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span> 2,411</span>               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optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=242364">Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short Versus Long-Term Policies</a>                                </span>                                </h3>                                                                                                                            <div class="note note-list">                                                                                <span>Number of pages: 32</span>                                                                                                                    <span>Posted: 16 Sep 2000</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                        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    <span>Number of pages: 11</span>                                                                                                                    <span>Posted: 16 Nov 2014</span>                                                                                                                    <span>Last Revised: 20 Nov 2014</span>                                                                        </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1752757" target="_blank">Maria-Augusta Miceli</a>     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                      <div><i>Zurich IEER Working Paper No. 88</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 21</span>                                                                                                                    <span>Posted: 17 Oct 2001</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div 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       <span>Posted: 28 Dec 2005</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=112026" target="_blank">Michael G. Jacobides</a>                                    </div>                                    <div class="afiliations">                                    London Business School                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  449</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                <div class="trow abs abs_229973" id="div_229973">                        <div class="actions">                            44.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=229973">From Equity Premium Puzzle to Expectations Puzzle: A General Equilibrium Production Economy with Stochastic Habit Formation</a>                                </span>                                </h3>                                                                                                                            <div class="note note-list">                                                                                <span>Number of pages: 63</span>                                                                                                                    <span>Posted: 25 Jul 2000</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=139423" target="_blank">Qiang Dai</a>                                    </div>                                    <div class="afiliations">                                    University of North Carolina (UNC) at Chapel Hill - Finance Area                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  443</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                <div class="trow abs abs_3198474" id="div_3198474">                        <div class="actions">                            45.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=3198474">The Effect of Car Sharing on Car Sales</a>                                </span>                                </h3>                                                                                                                            <div class="note note-list">                                                                                <span>Number of pages: 50</span>                                                                                                                    <span>Posted: 26 Jun 2018</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=3032013" target="_blank">Peter Schmidt</a>                                    </div>                                    <div class="afiliations">                                    Bocconi University - Department of Economics                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  411</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                                                                            <div class="trow abs abs_1350225" id="div_1350225">                        <div class="actions">                            46.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=1350225">A Note on Wealth Effect under CARA Utility</a>                                </span>                                </h3>                                                                                                                                <div><i>Finance Research Letters, Forthcoming</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 15</span>                                                                                                                    <span>Posted: 01 Mar 2009</span>                                                                                                                    <span>Last Revised: 10 May 2010</span>                                                                        </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=334621" target="_blank">Dmitry Makarov</a> and <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=349904" target="_blank">Astrid V. Schornick</a>                                    </div>                                    <div class="afiliations">                                    HSE University, International College of Economics and Finance (ICEF) and Cologne Business School                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  406</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                <div class="trow abs abs_1003751" id="div_1003751">                        <div class="actions">                            47.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=1003751">Commodity Prices and the Option Value of Storage</a>                                </span>                                </h3>                                                                                                                            <div class="note note-list">                                                                                <span>Number of pages: 30</span>                                                                                                                    <span>Posted: 01 Aug 2007</span>                                                                                                                    <span>Last Revised: 14 Nov 2014</span>                                                                        </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=329784" target="_blank">Lewis T. Evans</a> and <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=77" target="_blank">Graeme Guthrie</a>                                    </div>                                    <div class="afiliations">                                    Victoria University of Wellington - New Zealand Institute for Study of Competition and Regulation Inc. (ISCR) and Victoria University of Wellington - School of Economics & Finance                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  367</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                                                                            <div class="trow abs abs_2281858" id="div_2281858">                        <div class="actions">                            48.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=2281858">Are All Technological Improvements Beneficial? Absolutely Not</a>                                </span>                                </h3>                                                                                                                                <div><i>PIER Working Paper No. 13-027</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 39</span>                                                                                                                    <span>Posted: 20 Jun 2013</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=25958" target="_blank">Yochanan Shachmurove</a> and <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=250035" target="_blank">Uriel Spiegel</a>                                    </div>                                    <div class="afiliations">                                    City University of New York, CUNY City College of New York - Department of Economics and Bar-Ilan University - Department of Management                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  360</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                <div class="trow abs abs_256925" id="div_256925">                        <div class="actions">                            49.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=256925">Asset Pricing with Production and Labor</a>                                </span>                                </h3>                                                                                                                            <div class="note note-list">                                                                                <span>Number of pages: 27</span>                                                                                                                    <span>Posted: 23 Jan 2001</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=139423" target="_blank">Qiang Dai</a>                                    </div>                                    <div class="afiliations">                                    University of North Carolina (UNC) at Chapel Hill - Finance Area                                    </div>                                                                                                                                                                                                                        <div class="keywords">                                                                                                                                                    </div>                                                        </div>                                                                                    <div class="downloads">                                                                <span>Downloads</span>                                <span>  360</span>                                                        </div>                            </div>                                                                                                                                                                                                                                                                                                    <div class="trow abs abs_944787" id="div_944787">                        <div class="actions">                            50.                                                                                                    <i class="icn icn-free"></i>                                                                                         </div>                            <div class="description">                                                                                                                        <h3>                                    <span><a                                            class="title optClickTitle" href="https://privpapers.ssrn.com/sol3/papers.cfm?abstract_id=944787">Economic Growth in the Presence of FDI: The Perspective of Newly Industrialising Economies</a>                                </span>                                </h3>                                                                                                                                <div><i>GEP Research Paper No. 2006/33</i>                                    </div>                                                                    <div class="note note-list">                                                                                <span>Number of pages: 50</span>                                                                                                                    <span>Posted: 20 Nov 2006</span>                                                                                                            </div>                                                                                            <div class="afiliations">                                    Working Paper Series                                    </div>                                                                                                                                                                    <div class="authors-list">                                    <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=710192" target="_blank">Shujie Yao</a> and <a href="https://privpapers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=710202" target="_blank">Kailei Wei</a>                                    </div>                                    <div class="afiliations">                                    University of Nottingham and Middlesex University - 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