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Dimitri Vayanos (London School of Economics)
IDEI, 11 mai 2015, 12h30–14h00, salle MF 323
We study the joint determination of fund managers' contracts and equilibrium asset prices. Because of agency frictions, investors make managers' fees more sensitive to performance and benchmark performance against a market index. This makes managers unwilling to deviate from the index and...
Rui Esteves (University of California, Berkeley)
Toulouse : IAST, 7 mai 2015, 15h30–16h30
John Levy (Oxford University)
Toulouse : TSE, 7 mai 2015, 11h00–12h15, salle MS 003
We show that any compact semi-algebraic subset of mixed action profiles on a fixed player set can be represented as the projection of the set of equilibria of a game in which additional binary players have been added. Even stronger, we show that any semi-algebraic continuous function, or even any...
Joan Llull (University Autonoma de Barcelona)
TSE, 5 mai 2015, 15h30–17h00, salle MS 001
This paper uses a large panel assembled from Spanish administrative data for over one million individuals assembled from tax, welfare and employment records over a period spanning 30 years to estimate a dynamic model of individual optimization that explains transitions and spell lengths between...
Pierre Alquier (ENSAE PARIS)
Toulouse : TSE, 5 mai 2015, 14h00–15h15, salle MF 323
Dans de nombreux problèmes statistiques, le paramètre à estimer est une matrice de très grande dimension, mais dont on peut supposer que le rang est faible. De nombreux travaux ont été effectués en utilisant différents types d'estimateurs pénalisés, un peu moins avec une approche bayésienne. Dans...
Botond Koszegi (Central European University)
Toulouse : TSE, 5 mai 2015, 11h00–12h30, salle MS 001
We analyze the welfare properties of derivative securities that profit-maximizing banks offer to investors who have inferior information and neglect the information content of the offer, assuming that banks can freely choose both the underlying asset and the form of the security. A monopolist bank'...
Fabrice Etilé (Paris School of Economics)
TSE, 5 mai 2015, 11h00–12h30, salle MS 003
Household cooking time has decreased by 16% in France between 1985 and 2009. We use the 1985 and 2009 Time Use Surveys and Oaxaca-Blinder decompositions to examine the contribution of changing opportunity cost of time, food technologies and preferences to this decline. The rise in women’s...
Rémi Praz (Copenhagen Business School)
5 mai 2015
Antonella Trigari (University of Bocconi)
TSE, 4 mai 2015, 17h00–18h30, salle MS 001
Recent papers interpret micro-level findings of greater cyclicality in the wages of new hires as evidence for flexible wages of new hires, thus concluding that wage rigidity is not an empirically plausible mechanism for resolving the unemployment volatility puzzle. We analyze data from the Survey...
Nick Vikander (University of Copenhagen)
TSE, 4 mai 2015, 14h00–15h30, salle MF 323
This paper examines the optimal sequencing of sales in the presence of network externalities. A firm sells a good to a group of consumers whose payoff from buying is increasing in total quantity sold. The firm selects the order to serve consumers so as to maximize expected sales. It can serve all...
