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Grégory Jolivet (University of Bristol)
Toulouse: TSE, November 22, 2011, 15:30–17:00, room Amphi S
We use administrative data from a major French e-commerce website to conduct an empirical analysis of the effect on posted prices of seller reputation, as measured by average buyer feedback. We derive a structural price equation which we take to transaction data for four separate categories of...
Irene Botosaru (Toulouse School of Economics)
Toulouse: TSE, November 22, 2011, 14:00–15:30, room MS 003
This paper identifies and estimates a hazard model in which the unobserved heterogeneity is modeled as a positive Levy stochastic process. The paper provides empirically relevant examples of such a model. Conditions for the identification of the parameters of interest and for the consistency of the...
Patrick Rey (Toulouse School of Economics)
Toulouse: TSE, November 22, 2011, 11:00–12:30, room Amphi S
Large retailers often compete with smaller stores carrying a narrower range. We find that large retailers can exercise market power by pricing below cost some of the products also offered by smaller rivals, in order to discriminate multi-stop shoppers from one-stop shoppers. Loss leading then...
Craig Burnside (Duke University)
Toulouse: TSE, November 21, 2011, 17:00–18:30, room Amphi S
We examine the empirical properties of the payoffs to two popular currency speculation strategies: the carry trade and momentum. We review three possible explanations for the apparent profitability of these strategies. The first is that speculators are being compensated for bearing risk. The second...
Jianjun Miao (University of Boston)
TSE, November 21, 2011, 12:30–13:45, room MF 323
We provide an infinite-horizon model of a production economy with credit-driven bubbles, in which firms meet stochastic investment opportunities and face credit constraints. Capital is not only an input for production, but also serves as collateral. We show that bubbles on this reproducible asset...
John Beghin (Iowa State University)
Toulouse: TSE, November 21, 2011, 11:00–12:30, room MF 323
We extend the existing literature on food taxes targeting obesity. We systematically incorporate the implicit substitution between added sugars and solid fats into a comprehensive food demand system and evaluate the effect of taxes on sugars and fats. The approach conditions how food and obesity...
Alexandre D'Aspremont (Ecole Polytechnique)
Toulouse: TSE, November 18, 2011, 13:45–15:00, room MS 003
This talk will focus on covariance selection and its applications in finance. We will explore some dependence patterns in financial time series with a particular focus on interest rates and hedge fund returns. We will also discuss consistency results and cross validation procedures.
Toulouse, France, November 18, 2011
Adam Harris (University College London)
Toulouse: IAST, November 17, 2011, 15:30–17:00, room MF323
A robust finding in social psychology is that people judge negative events as less likely to happen to themselves than to the average person, a behavior interpreted as showing that people are “unrealistically optimistic” in their judgments of risk concerning future life events. However, I...
Paula Margaretic (Toulouse School of Economics)
Toulouse: TSE, November 17, 2011, 12:45–14:00, room MF 323
We introduce correlation between states of the economy in two regions. Each region is populated by a single bank, which receives agents’ deposits and invests them in a risky productive technology. The productive technology allows the risky asset to offer a higher return if held until maturity. The...
