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Georg Weizsacker (LSE Londres)
Toulouse : TSE, 29 avril 2010, 15h30–17h00, salle MF 323
In many arenas, good decision-making requires the consideration of correlation. Notably, optimal portfolio theory depends upon a sophisticated understanding of the correlation between financial assets. In this paper we test people's understanding of correlation in a sequence of portfolio-allocation...
Joao Montalvao (University College London)
Toulouse : TSE, 29 avril 2010, 12h45–14h00, salle MF 323
It is widely accepted that maternal and neonatal survival rates can be improved by positive health practices and effective treatment seeking behaviour. When women have little individual agency however, their control over health practices and care seeking may be significantly curtailed. Using data...
Per Mykland (University of Chicago)
Toulouse : TSE, 27 avril 2010, 15h30–17h00, salle MF 323
Recent years have seen an explosion of the literature in the area of estimating parameters (such as volatility) on the basis of high frequency data, typically from financial markets. We give some background for this kind of inference, and then discuss challenges and recent innovations in the area....
Pierre Picard (Ecole Polytechnique)
Toulouse : TSE, 27 avril 2010, 11h00–12h30, salle MF323
We show that an equilibrium always exists in the Rothschild-Stiglitz insurance market model with adverse selection when insurers can offer either non participating or participating policies, i.e. insurance contracts which may involve policy dividends or supplementary calls for premium. The...
Francisco Gonzalez
Toulouse : TSE, 26 avril 2010, 17h00–18h30, salle MF 323
We argue that the rise of the welfare state throughout the Western economies can be understood as the self-interested response of the wealthy to increasing social demands. Our thesis is that the Great Depression led to a permanent increase in people's perception of aggregate economic risks, and...
Johan Walden (UC Berkeley)
IDEI, 26 avril 2010, 12h30–14h00, salle MF 323
Several well-known asset pricing anomalies arise when simple endowment economies are calibrated to real data. We show that many of these anomalies are largely mitigated, and even disappear, if we endow the representative agent with an arbitrarily small minimum consumption level. We...
Michael Waterson (University of Warwick)
Toulouse : TSE, 26 avril 2010, 11h00–12h30, salle MF 323
Modern consumers face a formidable problem when purchasing everyday products. In a large supermarket expedition, they are confronted with tens of thousands of lines. Hence they may rationally be inattentive (Chen et al., 2008) as to the pricing of individual lines. Whether consumers are rationally...
Sami Stouli (University College London)
Toulouse : TSE, 15 avril 2010, 12h45–14h00, salle MF 323
This paper considers semiparametric estimation of quantile regression models in the presence of endogeneity. Imposing index restrictions in the triangular model framework, an efficient semiparametric estimator for nonseparable models is introduced. Endogeneity is addressed through a control...
Toulouse, France, 9 avril 2010
Jayant Kale (Georgia State University)
TSE, 8 avril 2010, 16h15–17h45, salle MD 301
We study the retention and allocation of managerial talent by examining the effect of equity-based compensation and promotion- based tournament incentives on voluntary turnover among non-CEO managers. We use a unique hand-collected dataset of over 3,000 managerial turnovers in which about a third...
