{"?xml":{"@version":"1.0"},"edm:RDF":{"@xmlns:dc":"http://purl.org/dc/elements/1.1/","@xmlns:edm":"http://www.europeana.eu/schemas/edm/","@xmlns:wgs84_pos":"http://www.w3.org/2003/01/geo/wgs84_pos","@xmlns:foaf":"http://xmlns.com/foaf/0.1/","@xmlns:rdaGr2":"http://rdvocab.info/ElementsGr2","@xmlns:oai":"http://www.openarchives.org/OAI/2.0/","@xmlns:owl":"http://www.w3.org/2002/07/owl#","@xmlns:rdf":"http://www.w3.org/1999/02/22-rdf-syntax-ns#","@xmlns:ore":"http://www.openarchives.org/ore/terms/","@xmlns:skos":"http://www.w3.org/2004/02/skos/core#","@xmlns:dcterms":"http://purl.org/dc/terms/","edm:WebResource":[{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-DRCIKHTP/cee7f65c-c3ed-4621-b867-3f5320550e2c/HTML","dcterms:extent":"37 KB"},{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-DRCIKHTP/b7aaab61-4c09-4f6d-a336-4167ca0a03d8/TEXT","dcterms:extent":"35 KB"},{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-DRCIKHTP/de6df9c1-1167-45f8-955b-c49d84d5e3c9/PDF","dcterms:extent":"459 KB"}],"edm:TimeSpan":{"@rdf:about":"2006-2025","edm:begin":{"@xml:lang":"en","#text":"2006"},"edm:end":{"@xml:lang":"en","#text":"2025"}},"edm:ProvidedCHO":{"@rdf:about":"URN:NBN:SI:doc-DRCIKHTP","dcterms:isPartOf":[{"@rdf:resource":"https://www.dlib.si/details/urn:nbn:si:spr-hthivfa7"},{"@xml:lang":"sl","#text":"Naše gospodarstvo"}],"dcterms:issued":"2010","dc:creator":"Gehr, Adam K.","dc:format":[{"@xml:lang":"sl","#text":"številka:3/4"},{"@xml:lang":"sl","#text":"letnik:56"},{"@xml:lang":"sl","#text":"8 strani"},{"@xml:lang":"sl","#text":"str. 3-10"}],"dc:identifier":["ISSN:0547-3101","COBISSID:10300188","URN:URN:NBN:SI:doc-DRCIKHTP"],"dc:language":["en","sl"],"dc:publisher":[{"@xml:lang":"sl","#text":"Društvo ekonomistov Maribor"},{"@xml:lang":"sl","#text":"Ekonomski center Maribor"},{"@xml:lang":"sl","#text":"Ekonomsko-poslovna fakulteta"}],"dc:subject":[{"@xml:lang":"sl","#text":"cene"},{"@xml:lang":"sl","#text":"finančni trg"},{"@xml:lang":"sl","#text":"prodaja"},{"@xml:lang":"sl","#text":"trg kapitala"},{"@xml:lang":"sl","#text":"vrednostni papirji"},{"@rdf:resource":"http://www.wikidata.org/entity/Q12786759"}],"dcterms:temporal":{"@rdf:resource":"2006-2025"},"dc:title":{"@xml:lang":"sl","#text":"Price determination in a simple market with and without short sales| Določanje cen na enostavnem trgu ob prisotnosti oziroma odsotnosti kratke prodaje|"},"dc:description":[{"@xml:lang":"sl","#text":"Miller (1977) argued that prohibiting or constraining short sales causes securities to be o verpriced because traders with low estimates of value do not participate in the market. Markets with short sales should, therefore, price securities correctly because all traders participate. This paper shows that Miller's (1977) result is not necessarily true. Even in the absence of short sales, securities may be overpriced, underpriced or correctly priced if bidders bid their estimate of the security's value. On the other hand, if short sales are allowed, the market will consistently exhibit underpricing. We also show how bidders may adjust their bids to account for the presence of the bias"},{"@xml:lang":"sl","#text":"Kot trdi Miller (1977), je rezultat prepovedi oziroma omejevanja kratke prodaje precenjena vrednost vrednostnih papirjev, saj trgovci, ki nižje vrednotijo le-te, ne sodelujejo na trgu. Trgi, na katerih je prisotna kratka prodaja, morajo torej določiti pravilno ceno vrednostnih papirjev zaradi sodelovanja vseh trgovcev. Pričujoči prispevek nakazuje, da rezultati raziskav, ki jih je opravil Miller (1977), nujno ne držijo. Tudi ob odsotnosti kratke prodaje so vrednostni papirji lahko precenjeni, podcenjeni ali ocenjeni na ustrezno vrednost, če ponudniki tržijo vrednostne papirje s svojo oceno njihove vrednosti. Kadar je kratka prodaja dovoljena, trg sistematično izkazuje podcenjenost. V članku tudi predstavljamo način, kako lahko ponudniki ustrezno prilagodijo svoje ponudbe v primeru omenjene pristranskosti"}],"edm:type":"TEXT","dc:type":[{"@xml:lang":"sl","#text":"znanstveno časopisje"},{"@xml:lang":"en","#text":"journals"},{"@rdf:resource":"http://www.wikidata.org/entity/Q361785"}]},"ore:Aggregation":{"@rdf:about":"http://www.dlib.si/?URN=URN:NBN:SI:doc-DRCIKHTP","edm:aggregatedCHO":{"@rdf:resource":"URN:NBN:SI:doc-DRCIKHTP"},"edm:isShownBy":{"@rdf:resource":"http://www.dlib.si/stream/URN:NBN:SI:doc-DRCIKHTP/de6df9c1-1167-45f8-955b-c49d84d5e3c9/PDF"},"edm:rights":{"@rdf:resource":"http://rightsstatements.org/vocab/InC/1.0/"},"edm:provider":"Slovenian National E-content Aggregator","edm:intermediateProvider":{"@xml:lang":"en","#text":"National and University Library of Slovenia"},"edm:dataProvider":{"@xml:lang":"sl","#text":"Univerza v Mariboru, Ekonomsko-poslovna fakulteta"},"edm:object":{"@rdf:resource":"http://www.dlib.si/streamdb/URN:NBN:SI:doc-DRCIKHTP/maxi/edm"},"edm:isShownAt":{"@rdf:resource":"http://www.dlib.si/details/URN:NBN:SI:doc-DRCIKHTP"}}}}