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Institution

Stockholm School of Economics

EducationStockholm, Sweden
About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Cost effectiveness. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.


Papers
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Journal ArticleDOI
TL;DR: In this article, the authors examine the effects of government redistribution schemes in an economy where agents are subject to uninsurable, individual specific productivity risk and consider the trade-off between positive insurance effects and negative distortions on labor supply and saving.

253 citations

Journal ArticleDOI
TL;DR: The authors explored the link between the gender gap in stock market participation and financial literacy and found that women typically participate less than men in the stock market, while also scoring lower on financial literacy.
Abstract: Women typically participate less than men in the stock market, while also scoring lower on financial literacy. We explore the link between the gender gap in stock market participation and financial literacy. Using survey data on a random sample of 1,300 individuals that is representative of the Swedish population, we show that controlling for basic financial literacy, essentially a measure of numeracy that does not require knowledge about the stock market, may explain a large part of the gender gap in stock market participation. We also find that women report being less risk taking than men. This gender gap in risk attitudes remains significant also when controlling for financial literacy.

253 citations

Journal ArticleDOI
TL;DR: It is shown that a market is approximately complete iff an equivalent martingale measure is unique and two constructions of stochastic integrals with respect to processes taking values in a space of continuous functions are suggested.
Abstract: To the memory of our friend and colleague Oliviero Lessi. Abstract. The main purpose of the paper is to provide a mathematical back- ground for the theory of bond markets similar to that available for stock markets. We suggest two constructions of stochastic integrals with respect to processes taking values in a space of continuous functions. Such integrals are used to define the evolution of the value of a portfolio of bonds corresponding to a trad- ing strategy which is a measure-valued predictable process. The existence of an equivalent martingale measure is discussed and HJM-type conditions are derived for a jump-diffusion model. The question of market completeness is considered as a problem of the range of a certain integral operator. We introduce a concept of approximate market completeness and show that a market is approximately complete iff an equivalent martingale measure is unique.

253 citations

Journal ArticleDOI
TL;DR: This paper studies a class of continuous-time stochastic control problems which are time-inconsistent in the sense that they do not admit a Bellman optimality principle, and derives an extension of the standard Hamilton–Jacobi–Bellman equation in the form of a system of nonlinear equations for the determination of the equilibrium strategy as well as the equilibrium value function.
Abstract: In this paper, which is a continuation of the discrete-time paper (Bjork and Murgoci in Finance Stoch. 18:545–592, 2004), we study a class of continuous-time stochastic control problems which, in various ways, are time-inconsistent in the sense that they do not admit a Bellman optimality principle. We study these problems within a game-theoretic framework, and we look for Nash subgame perfect equilibrium points. For a general controlled continuous-time Markov process and a fairly general objective functional, we derive an extension of the standard Hamilton–Jacobi–Bellman equation, in the form of a system of nonlinear equations, for the determination of the equilibrium strategy as well as the equilibrium value function. The main theoretical result is a verification theorem. As an application of the general theory, we study a time-inconsistent linear-quadratic regulator. We also present a study of time-inconsistency within the framework of a general equilibrium production economy of Cox–Ingersoll–Ross type (Cox et al. in Econometrica 53:363–384, 1985).

252 citations

Journal ArticleDOI
TL;DR: There is only limited scientific evidence that streaming of patients into different tracks, performing laboratory analysis in the emergency department or having nurses to request certain x-rays results in shorter waiting time and length of stay.
Abstract: Background: Overcrowding in emergency departments is a worldwide problem. A systematic literature review was undertaken to scientifically explore which interventions improve patient flow in emergency departments. Methods: A systematic literature search for flow processes in emergency departments was followed by assessment of relevance and methodological quality of each individual study fulfilling the inclusion criteria. Studies were excluded if they did not present data on waiting time, length of stay, patients leaving the emergency department without being seen or other flow parameters based on a nonselected material of patients. Only studies with a control group, either in a randomized controlled trial or in an observational study with historical controls, were included. For each intervention, the level of scientific evidence was rated according to the GRADE system, launched by a WHO-supported working group. Results: The interventions were grouped into streaming, fast track, team triage, point-of-care testing (performing laboratory analysis in the emergency department), and nurse-requested x-ray. Thirty-three studies, including over 800,000 patients in total, were included. Scientific evidence on the effect of fast track on waiting time, length of stay, and left without being seen was moderately strong. The effect of team triage on left without being seen was relatively strong, but the evidence for all other interventions was limited or insufficient. Conclusions: Introducing fast track for patients with less severe symptoms results in shorter waiting time, shorter length of stay, and fewer patients leaving without being seen. Team triage, with a physician in the team, will probably result in shorter waiting time and shorter length of stay and most likely in fewer patients leaving without being seen. There is only limited scientific evidence that streaming of patients into different tracks, performing laboratory analysis in the emergency department or having nurses to request certain x-rays results in shorter waiting time and length of stay.

250 citations


Authors

Showing all 1218 results

NameH-indexPapersCitations
Magnus Johannesson10234240776
Thomas J. Sargent9637039224
Bengt Jönsson8136533623
J. Scott Armstrong7644533552
Johan Wiklund7428830038
Per Davidsson7130932262
Julian Birkinshaw6423329262
Timo Teräsvirta6222420403
Lars E.O. Svensson6118820666
Jonathan D. Ostry5923211776
Alexander Ljungqvist5913914466
Richard Green5846814244
Bo Jönsson5729411984
Magnus Henrekson5626113346
Assar Lindbeck5423413761
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
20237
202251
2021247
2020219
2019186
2018168