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Arvind Krishnamurthy (Kellogg School University)
Toulouse: TSE, December 13, 2010, 12:30–14:00, room MF 323
Investors value the liquidity and safety of U.S. Treasury bonds. We document this by showing that changes in Treasury supply have large effects on a variety of yield spreads. As a result, Treasury yields are reduced by 72 basis points, on average over the period from 1926-2008. The low yield on...
Laura Grigolon (Louvain Catholic University.)
Toulouse: TSE, December 13, 2010, 11:00–12:30, room MF 323
We propose a comparison across four types of demand models: a pure logit model, a logit model with random coefficients, a pure nested logit model and a nested logit model with random coefficients. Through the application of these techniques to a recent dataset on the European car market, we show...
Klaus Schmidt (University of Munich)
Toulouse: TSE, December 9, 2010, 15:30–17:00, room MF 323
The exchange of small and medium sized gifts is common practice in many industries. We focus on situations where the receiver of the gift has to take a decision on behalf of a third party and where the gift giver wants to influence this decision. Examples include physicians who receive gifts from...
David Pacini (UT1-GREMAQ-TSE)
Toulouse: TSE, December 9, 2010, 12:45–14:00, room MF 323
We examine what can be learned about the coefficients of a single index dynamic binary response models with individual effects when repeated cross sections instead of genuine panel data are available. Unlike the existing literature, we allow for time varying variables among the regressors. We show...
Marco Scarsini (LUISS)
Toulouse: TSE, December 9, 2010, 12:30–14:00, room MB 405
There exist several characterizations of concavity for univariate functions. One of them states that a function is concave if and only if it has non-increasing differences. This definition provides a natural generalization of concavity for multivariate functions, called inframodularity. This paper...
Pauline Grosjean (University of San Francisco)
Toulouse: TSE, December 9, 2010, 11:00–12:30, room MF 323
This paper tests the hypothesis that the high prevalence of homicides in the US South stems from the fact that the region was settled by herders, chief among them the Scots and Scots-Irish. Herding societies tend to develop a “culture of honor” because violence is necessary to preserve a reputation...
Harry J. Paarsch (University of Melbourne)
Toulouse: TSE, December 7, 2010, 15:30–17:00, room MH 203
Previous researchers have modelled the decision to accept a donor organ for transplantation as a Markov decision problem, the solution to which is often a control-limit optimal policy: accept any organ whose match quality exceedssome health-dependent threshold; otherwise, wait for another....
Karel Hron (Palacky University)
Toulouse: TSE, December 7, 2010, 14:00–15:30, room MH 203
Many practical data sets in official statistics, environmental science and various other disciplines including economical applications are in fact compositional data because only the ratios between the variables are informative, e.g., household expenditures on various costs from the monthly budget...
Guillaume Plantin (TSE-CRM)
Toulouse: TSE, December 7, 2010, 11:00–12:30, room MF 323
This paper develops a model of active portfolio management in which fund managers may secretly gamble in order to manipulate their reputation and attract more funds. We show that such trading strategies may expose investors to severe losses and are more likely to occur when fund managers are...
Mark Machina (University of California, San Diego)
Toulouse: TSE, December 7, 2010, 11:00–12:30, room MH 203
