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Federico Bandi (Johns Hopkins University)
TSE, 17 novembre 2020, 15h30–17h00, salle Zoom
We use a local (in time) expansion of the characteristic function of the equity process in continuous time to derive short-maturity option prices. The prices, along with data on short maturity options, are employed to jointly identify equity characteristics (spot volatility, spot leverage and spot...
Jay Pil Choi (Michigan State University)
17 novembre 2020, 14h00–15h00, Zoom Meeting
We investigate the relationship between market structure and platforms'incentives to adopt technological innovations in two-sided markets, where platforms may find it optimal to charge zero price on the consumer side and to extract surplus on the advertising side. We consider innovations that...
Pilossoph Laura (Federal Reserve Bank of New York)
TSE, 17 novembre 2020, 14h00–15h30, salle Zoom
We estimate the distribution of marginal propensities to consume (MPCs) using a novel clustering approach that generalizes the fuzzy C-means algorithm to regression settings. We apply the estimator to the 2008 stimulus payments, exploiting the ran- domized timing of disbursements, and find...
Jeanne Commault (Sciences Po)
17 novembre 2020, BDF, Paris
Matthew O. Jackson
TSE, 16 novembre 2020, 17h00–18h30
Tobit Gamp (Humboldt University, Berlin)
TSE, 16 novembre 2020, 14h00–15h30, salle Zoom
We study a search market in the spirit of Diamond (1971) in which some (naive) consumers have biased beliefs about what the market supplies which only partially reflect the true market conditions. Specifically, a belief function specifies for any (true) distribution of utility offers in the market...
Maria Guadalupe (INSEAD)
Toulouse : TSE, 16 novembre 2020, 12h30–13h45, salle zoom
This paper studies team dynamics in the product development section of a large bank that is structured following the Agile model i.e. around self-managed teams, with few interdependencies among them. In collaboration with the bank, I ran 5 surveys of teams between October 2015 and February 2017...
Kathrine Von Graevenitz (ZEW, Mannheim)
Toulouse : TSE, 16 novembre 2020, 11h00–12h30, salle Zoom
Climate policy often implies increasing electricity costs. Due to incomplete regulation across the globe, concerns about employment effects play an important role in the policy debate. Using micro data on network charges and the official plant census data for Germany we study the impact of rising...
Jean Tirole et Pierre Dubois
Cambridge, MA, USA, 12 novembre 2020
Mengxi Zhang (Bonn University)
Toulouse : TSE, 10 novembre 2020, 17h00–18h30, salle Zoom
We derive the revenue maximizing mechanism for a risk-neutral seller who faces Yaari's [1987] dual risk-averse bidders. The optimal mechanism oers \full- insurance" in the sense that each agent's utility is independent of other agents' reports. The seller excludes less types than under risk...
