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Caio Almeida, and René Garcia

vol. 63, n. 10, 2017, pp. 3361–3380

Based on a family of discrepancy functions, we derive nonparametric stochastic discount factor bounds that naturally generalize variance, entropy, and higher-moment bounds. These bounds are especially useful to identify how parameters affect pricing kernel dispersion in asset pricing models. In...

Stéphane Caprice

vol. 12, n. 3, 2017, pp. 480–513

This article examines (i) how retailers position private label products, (ii) why private labels are sold in some product categories but not in others, and why some national brand products may have difficulty in accessing retailers' shelves, (iii) why some private label products are positioned as "...

Marcel Boyer

2017

I characterize and discuss in this paper the challenges and pitfalls we must face to grow out for good of the recent and future financial crises and economic recessions. I propose a brief history of the last crisis and insist on the loss of confidence within the banking and financial sector, which...

Marcel Boyer, Thomas W. Ross, and Ralph Winter

Toronto, vol. 50, n. 5, December 2017, pp. 1489–1524

Competition policy in Canada and elsewhere has changed remarkably over the last fifty years – in large measure due to advances in economics. In this article we trace the impact of developments in industrial organization on the three central areas of competition policy: cartels, single firm conduct...

Laurent Miclo

vol. 22, 2017, pp. 1–38

Shui Feng, Laurent Miclo, and Feng-Yu Wang

vol. 14, n. 1, 2017, pp. 361–380

Laurent Miclo

vol. 26, n. 6, 2017, pp. 417–435

Laurent Miclo

vol. 53, n. 2, 2017, pp. 957–996

Daniel Bump, Persi Diaconis, Angela Hicks, Laurent Miclo, and Harold Widom

vol. 26, n. 6, 2017, pp. 263–288

Tiziana Assenza, A. Brock, and C.H. Hommes

Western Economic Association International, vol. 55, n. 1, 2017, pp. 542–564

We introduce a simple equilibrium model of a market for loans, where households lend to firms based on heterogeneous expectations about their loan default probability. Agents select endogenously among heterogeneous expectation rules, based upon their relative performance. Due to strong...