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John Leahy (New York University)
Toulouse : TSE, 14 novembre 2011, 17h00–18h30, salle Amphi S
Patrick Bolton (Columbia and IAST)
TSE, 14 novembre 2011, 12h30–13h45, salle MF 323
Derivative contracts, swaps, and repos enjoy "super-senior" status in bankruptcy: they are exempt from the automatic stay on debt and collateral collection that applies to virtually all other claims. We propose a simple corporate finance model to assess the effect of this exemption on firms' cost...
Fanny Henriet (Paris School of Economics)
Toulouse : TSE, 14 novembre 2011, 11h00–12h30, salle Amphi S
We study the optimal extraction of a polluting non-renewable resource within the following framework: environmental regulation is imposed in the form of a ceiling on the stock of pollution and a clean unlimited backstop technology can be developed by research and development. More specifically, the...
Jiangli Dou (Toulouse School of Economics)
Toulouse : TSE, 10 novembre 2011, 12h45–14h00, salle MF 323
This paper analyzes the competition between two horizontally differentiated firms (platforms) whose products have partially overlapping functionalities. If firms make their products compatible with each other, consumers can consume both products and derive utility from the non-overlapping...
Jaap Abbring (Tilburg University)
Toulouse : TSE, 8 novembre 2011, 15h30–17h00, salle Amphi S
We present a method for efficiently computing the likelihood of a mixed hitting-time model that specifies durations as the first time a latent Lévy process crosses a heterogeneous threshold. This likelihood is not generally known in closed form, but its Laplace transform is. Our approach to its...
Vladimir Vovk (University of London)
Toulouse : TSE, 8 novembre 2011, 14h00–15h30, salle MF 323
Game-theoretic probability is an old alternative to the standard measure-theoretic probability theory. The main difference between the two approaches to probability is that the notion of game-theoretic probability is derivative: it is defined via other more fundamental notions (for example, via the...
Vasiliki Skreta (University of New York)
Toulouse : TSE, 8 novembre 2011, 11h00–12h30, salle Amphi S
Lutz Kilian (University of Michigan)
Toulouse : TSE, 7 novembre 2011, 17h00–18h30, salle Amphi S
We develop a structural model of the global market for crude oil that for the first time explicitly allows for shocks to the speculative demand for oil as well as shocks to flow demand and flow supply. The speculative component of the real price of oil is identified with the help of data on oil...
Claire Chambolle (ALISS-INRA)
Toulouse : TSE, 7 novembre 2011, 11h00–12h30, salle MF 323
This paper analyzes the impact of exclusive dealing contracts between upstream and downstream firms of a vertical channel on the scope for upstream collusion. We consider a double duopoly framework and study upstream collusive strategies in a repeated game, alternatively in the benchmark where...
Didier Henrion (LAAS - Université de Toulouse)
Toulouse : TSE, 4 novembre 2011, 13h45–15h00, salle MS 003
The first part of the talk surveys achievements of the last decade on polynomial optimisation and semidefinite programming (linear matrix inequalities, LMI) with a focus on the generalised problem of moments and existing software tools. The second part of the talk deals with a recent extension of...
