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Vicky Henderson (The Oxford-Man Institute)
TSE, 12 mars 2012, 12h30–13h45, salle MF 323
Executives compensated with stock options generally receive grants periodically and so on any given date, may have a portfolio of options of differing strikes and maturities on their company’s stock. Non-transferability and trading restrictions in the company stock result in the executive facing...
Renaud Coulomb (PSE)
Toulouse : TSE, 12 mars 2012, 11h00–12h30, salle Amphi S
Capturing CO2 from fossil fuels burning using Carbon Capture and Storage (CCS) technology or producing energy based on low-carbon renewables require investments in specific forms of long-life clean capital. The present paper focuses on the optimal accumulation of clean capital when the carbon-...
Drew Fudenberg (Harvard)
Toulouse : IAST, 8 mars 2012, 17h20–18h50, salle MS001
The standard dual-self model of self-control, with a shorter-run self who cares only about the current period, is excessively sensitive to the timing of decisions and to the interpolation of additional “no-action” time periods in between the dates when decisions are made.We show that when the...
Toulouse : IAST, 8 mars 2012, 15h30–17h00, salle MS 001
Ekaterina Zhuravskaya (Paris School of Economics)
Toulouse : TSE, 8 mars 2012, 11h00–12h30, salle MF 323
Using a measure of tunneling out of Russian firms, constructed from banking transactions data as transfers of cash out of legitimate to fly-by-night firms, we show that firms that get public procurement contracts exhibit abnormally high tunneling rates within four weeks of regional elections. In...
Philippe Février (CREST-ENSAE)
Toulouse : TSE, 6 mars 2012, 15h30–17h00, salle Amphi S
This paper unifies and extends several recent nonparametric identification results on IV models by showing that they all satisfy what we call an induction property. This property states that if the structural function is identified at a given point, then it is also identified at another point....
Toulouse : TSE, 6 mars 2012, 11h00–12h30, salle Amphi S
Rationalizable partition-confirmed equilibrium (RPCE) describes the steady state outcomes of rational learning in extensive games, when rationality is almost common knowledge and players observe a partition of the terminal nodes. RPCE allows players to make inferences about unobserved play by...
Paula Bustos (CREI)
Toulouse : TSE, 5 mars 2012, 17h00–18h30, salle Amphi S
We analyze the effects of environmental regulation on international trade flows. To guide empirical work we extend a standard model of international trade to incorporate pollution and environmental regulation. The model implies a simple cross-country, cross-industry empirical framework to study how...
Alan Morrison (Oxford University)
IDEI, 5 mars 2012, 12h30–14h00, salle MF 323
Existing studies suggest that systemic crises may arise because banks either hold correlated assets, or are connected by interbank lending. This paper shows that common regulation is also a conduit for interbank contagion. One bank’s failure may undermine confidence in the banking regulator’s...
Sabrina Teyssier (INRA - ALISS)
Toulouse : TSE, 5 mars 2012, 11h00–12h30, salle MF 323
Although consumer attitudes toward corporate social responsibility are positive, socially responsible products are far from gaining significant market shares. Information asymmetries have been identified as contributing to the attitude-behavior gap. Signaling may remedy this market failure. We use...
