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Mathieu Rosenbaum (Ecole Polytechnique - Palaiseau)
Toulouse : TSE, 17 mai 2011, 14h00–15h30, salle MF 323
Il est communément admis en finance que le comportement d'un actif à une date donnée peut avoir une grande influence sur celui d'un autre à une date ultérieure. On parle alors d'actif "leader" et d'actif "suiveur" ("lagger" en anglais). Dans cet exposé, on proposera un modèle simple permettant de...
Ellen McGrattan (Federal Reserve Bank of Minneapolis)
Toulouse : TSE, 16 mai 2011, 17h00–18h30, salle MF 323
Previous studies of the U.S. Great Depression find that increased taxation contributed little to either the dramatic downturn or the slow recovery. These studies include only one type of capital taxation: a business profits tax. The contribution is much greater when the analysis includes other...
Uday Rajan (University of Michigan)
TSE, 16 mai 2011, 12h30–14h00, salle MF 323
We consider the role of product market competition in disciplining managers in a moral hazard setting. Competition has two effects on a firm. First, the expected revenue or the marginal benefit of effort declines, leading to weakly lower effort. Second, the cost of inducing high effort increases (...
Louis Hotte (university of Ottawa)
Toulouse : TSE, 16 mai 2011, 11h00–12h30, salle MF 323
In the natural resource literature, conventional wisdom holds that weak property rights will cause a resource to be over-exploited. This is because weak property rights are typically perceived as a problem of input exclusion. In this paper, we first present evidence to the effect that weak property...
Toulouse, France, 16–17 mai 2011
Mathieu Faure (Unine - Mathematics institute)
Toulouse : TSE, 13 mai 2011, 13h45–15h15, salle MF 323
We discuss consistency of Vanishing Smooth Fictitious Play, a strategy in the context of game theory, which can be regarded as a smooth fictitious play procedure, where the smoothing parameter is time-dependent and asymptotically vanishes. This answers a question initially raised by Drew Fudenberg...
Toulouse, France, 13–14 mai 2011
Michael Kosfeld (University of Frankfurt)
Toulouse : TSE, 12 mai 2011, 15h30–17h00, salle MF 323
We investigate the willingness of actual leaders to enforce organizational norms in a third party punishment game and the effect this has on naturally occurring outcomes of forest commons management. We find that most leaders in our sample do not punish, but those who do target violations of norms...
Claire Celerier (TSE)
Toulouse : TSE, 12 mai 2011, 12h45–14h00, salle MF 323
Based on a survey among French graduate engineers, I show that higher returns to talent may account for rents in the financial sector. I develop a model in which firms compete for industry-specific talent. Talent is either revealed or acquired on the job, is scalable and can be transferred across...
Laura Trinchera (École Supérieure d'Électricité - SUPELEC-Gif-sur-Yvette)
Toulouse : TSE, 12 mai 2011, 12h30–14h00, salle MC 205
Partial Least Squares (PLS) methods are used to study cause‐effect links incomplex systems. These methods consist of various extensions of the Nonlinear estimation by Iterative PArtial Least Squares (NIPALS) algorithm. The basic principles of NIPALS were first developed in order to modeling the...
