The Black-Scholes equation, brainchild of economists Fischer Black and Myron Scholes, provided a rational way to price a financial contract when it still had time to run.
Libin has concluded that it is better to accept a lower bid from a rational investor than an extremely high price from an irrational one.
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Investors, in their more rational moments, say the high price-earnings multiples of red chips, often two or three times those of blue chips, are justified by the prospects of economic growth on the mainland.
Small price rises for water have led to more rational planting, and to techniques like drip irrigation.
After nearly a 400% move from where it was a decade ago, acrophobia over the seemingly high price of gold would seem to be a rational fear, however.
While they may behave in a predictably rational fashion when buying gasoline or airline tickets a lower price makes them more willing to buy they get turned around when they go to Wall Street.
While they may behave in a predictably rational fashion when buying gasoline or airline tickets--a lower price makes them more willing to buy--they get turned around when they go to Wall Street.
Lest we forget, until the great crash of 2007-8, it was widely believed that the Bank of England's performance had been world class: inflation was in check, providing the necessary price stability for businesses, households and government to make rational investment and spending decisions.
When investors have it in their heads that the price of shares is falling, and those falls are reinforced by demands for increased collateral from those who lent to finance the share purchases, it is difficult to make any kind of rational prediction about when and where more than a week of share-price falls will be halted.
It is not just the rational features and benefits of the product being communicated by the advertising that drives price expectations.
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And restricting land seizures could help push up the price of land on the periphery of urban areas and encourage a more rational use of existing urban land.
As shown below, the most impactful form of traction is when your venture repeatedly convinces rational, third-party customers to happily part with their hard-earned cash, at a market price, in exchange for your solution.
As rational beings, consumers decide by reason, by balancing goals and constraints, surfing the Internet for the best price and clipping store coupons.
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