Recherche avancée

Christian Gollier et Sébastien Pouget

n° 14-457, janvier 2014

This paper studies shareholder engagement in companies' strategic decisions. Differences of objective among shareholders arise in our model due to the presence of socially responsible investors. These investors take externalities into account when valuing their portfolio while conventional...

Thierry Magnac

n° 14-458, janvier 2014

Marcel Boyer et Rachidi Kotchoni

n° 14-462, 31 janvier 2014, révision juillet 2015

L’estimation des surprix des cartels est au cœur de la politique de lutte aux cartels car elle est un élément clé de la détermination des pénalités. Connor et Lande (2008) survolent la litérature sur les majorations de prix des cartels et concluent à une augmentation moyenne variant entre 31% et 49...

Philippe Bontems et Philippe Mahenc

n° 14-467, janvier 2014

This paper addresses the issue of price signaling in a model of vertical relationship between a manufacturer and a retailer who share the same information about quality, unlike consumers who do not observe it a priori. We show that delegating the price setting task to a retailer and controlling it...

Elie Gray et André Grimaud

n° 14-469, janvier 2014

What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly considering knowledge diffusion. Assuming that knowledge...

Helmuth Cremer et Kerstin Roeder

n° 14-470, janvier 2014

We show that once interfamily exchanges are considered, Becker?s rotten kids mechan- ism has some remarkable implications that have gone hitherto unnoticed. Specifically, we establish that Cornes and Silva's (1999) result of e¢fficiency in the contribution game amongst siblings extends to a setting...

Christine Thomas-Agnan et Florent Bonneu

n° 14-474, janvier 2014

We address the question of measuring and testing industrial spatial concentration based on micro-geographic data with distance based methods. We discuss the basic requirements for such measures and we propose four additional requirements. We also discuss the null assumptions classically used for...

Astrid Hopfensitz et Josepa Miquel-Florensa

n° 14-463, janvier 2014, révision juin 2015

Low intensity armed conflict is usually related to population displacement, altering networks and social capital in affected regions. With an incentivized questionnaire performed in the Colombian coffee growing axis (Eje Cafetero), we observe contribution to an abstract and anonymous public good...

Helmuth Cremer et Kerstin Roeder

n° 822, janvier 2014

We show that once interfamily exchanges are considered, Becker?s rotten kids mechan- ism has some remarkable implications that have gone hitherto unnoticed. Specifically, we establish that Cornes and Silva's (1999) result of e¢fficiency in the contribution game amongst siblings extends to a setting...

Jean-Paul Décamps et Stéphane Villeneuve

vol. 24, n° 1, janvier 2014, p. 66–96

Dynamic capital structure models with roll-over debt rely on widely accepted arguments that have never been formalized. This paper clarifies the literature and provides a rigorous formulation of the equity holders' decision problem within a game theory framework. We spell out the linkage between...