Investment & portfolio decisions with uncertainty and market frictions [Elektronische Ressource] : theory and application to microfinance / vorgelegt von Johannes J. Reeder
224 Pages
English

Investment & portfolio decisions with uncertainty and market frictions [Elektronische Ressource] : theory and application to microfinance / vorgelegt von Johannes J. Reeder

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Investment & Portfolio Decisions with Uncertaintyand Market Frictions: Theory and Application toMicrofinanceDissertationzur Erlangung des Grades eines Doktors der Wirtschaftswissenschafteingereicht an derWirtschaftswissenschaftlichen Fakult¨atder Universit¨at Regensburgvorgelegt vonJohannes J. ReederBerichterstatter:Prof. Dr. Lutz Arnold (Universitat¨ Regensburg)Prof. Sven Rady, Ph.D. (Ludwig-Maximilians-Universit¨at Mun¨ chen)Tag der Disputation: 12. April 2010ContentsPreface xi1 Introduction 12 Asymmetric Information in Credit Markets 72.1 Motivation and the literature . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82.2 The model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182.2.1 Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182.2.2 Return function. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202.2.3 Credit and deposit market . . . . . . . . . . . . . . . . . . . . . . . . . . 232.2.4 Independent revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282.2.5 Equilibrium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 302.2.6 Comparative statics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 452.3 Extension I: non-expected utility . . . . . . . . . . . . . . . . . . . . . . . . . . 472.3.1 Capital supply, lifetime utility and equilibrium . . . . . . . . . . . . . . 472.3.2 Comparative statics . . . . . . . . . . .

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Published 01 January 2010
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Language English
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