Jump to navigation
Yiquan Gu (University of Liverpool - Management School)
Toulouse: TSE, December 5, 2011, 11:00–12:30, room MS003
Including the entry decision in a Bertrand model with imperfectly informed consumers,we introduce a trade-off at the level of socialwelfare. On the one hand, market transparency is beneficial when the number of firms is exogenously given. On the other, a higher degree of market transparency implies...
Aurélien Alfonsi (CERMICS-ENPC)
Toulouse: TSE, December 2, 2011, 13:45–15:00, room MS 003
We analyze the existence of price manipulation and optimal trade execution strategies in a model for an electronic limit order book with nonlinear price impact and exponential resilience. Our main results show that, under general conditions on the shape function of the limit order book, placing...
Thomas Chaney (University of Chicago)
Toulouse: TSE, December 2, 2011, 12:30–14:00, room MF 323
The gravity equation in international trade is one of the most robust empirical finding in economics: bilateral trade between two countries is proportional to their respective sizes, measured by their GDP, and inversely proportional to the geographic distance between them. While the role of...
David Laibson (Harvard University)
Toulouse: TSE, December 1, 2011, 15:30–17:00, room MS003
How does an economy behave if (1) fundamentals are truly hump-shaped, exhibiting momentum in the short run and partial mean reversion in the long run, and (2) agents do not know that fundamentals are hump-shaped and base their beliefs on parsimonious models that they fit to the available data? A...
Isaac Mbiti (Southern Methodist University)
Toulouse: TSE, December 1, 2011, 11:00–12:30, room MF 323
This paper estimates the causal effect of attending an elite (or high performing) secondary school on student achievement using data from Kenyan secondary schools. The admission of students into government secondary schools in Kenya is centralized and is based solely on student scores on the...
Robert Sauer (University of Bristol)
Toulouse: TSE, November 29, 2011, 15:30–17:00, room Amphi S
This paper estimates the economic and non-economic returns to volunteering for prime-aged women. A woman's decision to engage in unpaid or paid work, and to marry and have children, is formulated as a discrete choice dynamic programming problem under uncertainty. Simulated maximum likelihood...
Sophie Moinas (Toulouse School of Economics)
Toulouse: TSE, November 29, 2011, 11:00–12:30, room MF 323
High Frequency Trading (HFT) improves investors' ability to seize trading opportunities, which raises gains from trade. It also enables fast traders to process information before slow traders, which generates adverse selection. We first analyze trading equilibria for a given level of HFT and then...
Takuro Yamashita (Toulouse School of Economics)
Toulouse: TSE, November 25, 2011, 13:45–15:00, room MS 003
We derive a necessary condition, called the chain dominance property, for social choice correspondences to be admissibly implementable, i.e., given whatever admissible actions the agents play in each state, the outcomes always lie in the correspondence. The condition requires that the...
November 25, 2011, Paris
Iwan Barankay (Wharton School)
Toulouse: IAST, November 24, 2011, 15:30–17:00, room MF323
Performance rankings are a pervasive feature of life. Behavioral theories suggest that knowing one's rank may shape effort directly due to its effect on self-image. In a randomized control trial with full time employees (n=527) for whom rankings convey no Direct financial benefits, we study the...
