Recherche avancée

Bruno Biais, Christophe Bisière et Sébastien Pouget

vol. 60, n° 3, mars 2014

We experimentally analyze how to design preopening mechanisms facilitating coordination on high equilibrium liquidity and gains from trade. We allow a call auction to be preceded by a preopening or not, preopening orders to be binding or not, and the opening time to be deterministic or random. When...

Stéphane Villeneuve et Xavier Warin

vol. 8, n° 2, mars 2014, p. 193–227

In this paper, we develop a dynamic model that captures the interaction between a firm’s cash reserves, the risk management policy and the profitability of a non-predictable irreversible investment opportunity. We consider a firm that has assets in place generating a stochastic cash-flow stream....

Jean-Pierre Amigues, Gilles Lafforgue et Michel Moreaux

Springer Netherlands, vol. 57, n° 3, mars 2014, p. 345–366

Gilles Allaire, Eric Cahuzac, Thomas Pomeon et Michel Simioni

vol. 339-340, mars 2014, p. 9–31

Giuseppe Marco Attanasi, Astrid Hopfensitz, Emiliano Lorini et Frédéric Moisan

vol. 13, n° 1, mars 2014, p. 47–73

This paper investigates the influence that social ties can have on behavior. After defining the concept of social ties that we consider, we introduce an original model of social ties. The impact of such ties on social preferences is studied in a coordination game with outside option. We provide a...

Pascal Bégout et Jesus Ildefonso Diaz

vol. 34, n° 9, mars 2014, p. 3371–3382

We prove the compactness of the support of the solution of some stationary Schr\"odinger equations with a singular nonlinear order term. We present here a sharper version of some energy methods previously used in the literature and, in particular, by the authors.

Andrei Hagiu et Bruno Jullien

vol. 33, mars 2014, p. 48–60

Platforms use search diversion in order to trade off total consumer traffic for higher revenues derived by exposing consumers to unsolicited products (e.g. advertising). We show that competition between platforms leads to lower equilibrium levels of search diversion relative to a monopoly platform...

Bruno Jullien et In-Uck Park

vol. 81, n° 4, mars 2014, p. 1543–1574

We show that sellers may earn reputation for their “ability” to deliver high quality goods on average by honestly announcing the realised quality of items for sale every period. As the expected revenue stream from continuing with honest communication increases with their ability, high ability...

Erdinc Akyildirim, Ethem Guney, Jean-Charles Rochet et Mete Soner

vol. 51, mars 2014, p. 93–101

Several recent papers have studied the impact of macroeconomic shocks on the financial policies of firms. However, they only consider the case where these macroeconomic shocks affect the profitability of firms but not the financial markets conditions. We study the polar case where the profitability...

Stefan Ambec et Yann Kervinio

n° 14-480, 26 mars 2014

We consider the decentralized provision of a global public good with local external- ities in a spatially explicit model. Communities decide on the location of a facility that benefits everyone but exhibits costs to the host and its neighbors. They share the costs through transfers. We examine the...