Vassar College Digital Library

Vassar Scholarship

Vassar Scholarship, the institutional repository formerly known as Digital Window, reflects the research and scholarly output of the Vassar College community.  It provides access to a variety of collections, including senior theses and projects across a wide range of disciplines.

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Vassar Scholarship

Limited arbitrage, segmentation, and investor heterogeneity: Why the law of one price so often fails

Publication Date
2003-August-28
Document Type
working paper
Authors
Flynn, Sean Masaki
Department or Program
Economics Department
Document Type
Working Paper
Abstract

There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in...

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Vassar Scholarship

The portfolio allocation effects of investor sentiment about the ability of managers to beat the market

Publication Date
2003-February-03
Document Type
working paper
Authors
Flynn, Sean Masaki
Department or Program
Economics Department
Document Type
Working Paper
Abstract

I present a model that can transform discounts on closed-end mutual funds into a measure of investor sentiment about the ability of fund managers to beat the market. This measure of sentiment varies positively with capital flows into actively managed...

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Vassar Scholarship

Why Did Singapore Take the Gamble? To What Extent Did Legalizing Casino Gambling Lead to Economic Growth in Singapore?

Publication Date
2015-January-01
Document Type
Senior Capstone Projects
Authors
M. Jasmine Timan
Department or Program
Economics Department
Document Type
Senior Capstone Project
Access Level
Archive Only
Abstract

This paper explores the economic and social effects of the casino industry in Singapore and aims to tell whether the casinos had a positive or negative impact on total Singapore welfare. It uses data collected from Singapore Department of Statistics...

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