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Eliana Garces (Facebook)
Toulouse : TSE, 27 septembre 2019, 15h30–17h30, salle MF 323
Aude Grasset
Toulouse : TSE, 26 septembre 2019, 17h00–18h00, salle MS 001
Elyès Jouini (CEREMADE - Université Paris Dauphine)
Toulouse : TSE, 26 septembre 2019, 11h00–12h15, salle MS003
We consider a firm owned by shareholders with heterogeneous beliefs who delegate to a manager the choice of a production plan. Shareholders can trade claims that are contingent on all possible realizations of the firm's output. Shareholders cannot observe the chosen production plan and design a...
Piero Gottardi (University of Sussex)
Toulouse : TSE, 26 septembre 2019, 09h45–11h00, salle MS001
Michele Fabi (Universitat Autonoma de Barcelona)
TSE & IAST, 25 septembre 2019, 12h30–14h00, Building S, salle MS 003
This paper develops a dynamic game with endogenous inspection costs to explain empirically salient bidding profiles in crowdfunding and to characterize how success rates vary with design parameters. In the baseline, bidders arrive at a constant rate and face an inspection cost to learn if they like...
Philippe Aghion (Collège de France)
TSE, 24 septembre 2019, 17h00–18h30, salle MF323
Growth has fallen in the U.S., while firm concentration and profits have risen. Meanwhile, labor’s share of national income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which the driving force is falling firm-level costs of...
Patrice Bertail
TSE, 24 septembre 2019, 15h30–16h50, salle MS 001
The concept of Rademacher complexity for independent sequences of random variables is extended to Markov chains. The proposed notion of \regenerative block Rademacher complexity" (of a class of functions) follows from renewal theory and allows to control the expected values of suprema (over the...
Kjetil Storesletten (University of Oslo)
TSE, 24 septembre 2019, 14h00–15h30, salle MF323
We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP. During booms, employment in agriculture declines while labor productivity increases in...
Adrien Vigier (BI Norwegian Business School)
Toulouse : TSE, 24 septembre 2019, 11h00–12h30, salle MS001
We study information acquisition in dealer markets. We rst identify a one-sided strategic complementarity in information acquisition: the more informed traders are, the larger market makers' gain from becoming informed. We then derive the equilib- rium pattern of information acquisition and examine...
Mark Roberts (The Pennsylvania State University)
TSE, 23 septembre 2019, 14h00–15h30, salle MS 001
In this article we study differences in the returns to R&D investment between firms that sell in international markets and firms that only sell in the domestic market. We use German firm-level data from the high-tech manufacturing sector to estimate a dynamic structural model of a firms...
