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4 décembre 2011
3 décembre 2011
Christian Hellwig et Thomas Philippon
2 décembre 2011
Roberta Dessi et Xiaojian Zhao
n° 10-191, novembre 2011, révision décembre 2013
The available evidence from numerous studies in psychology suggests that overconfidence is a more important phenomenon in North America than in Japan. Relatedly, North Americans appear to view high self-esteem more positively than Japanese. The pattern is reversed when it comes to shame, a social...
Lika Ba et Farid Gasmi
n° 11-264, novembre 2011
The main goal of this study is to demonstrate the existence of a significant empirical link between infrastructure and financial sectors reforms the effects of which are reflected in infrastructure sectors performance. This paper reports on the findings of an exploration of this issue for the case...
Henrik Andersson, James K. Hammitt et Kristian Sundström
n° 11-272, novembre 2011
This study examines the value of reducing foodborne risk. Research on the valuation of health risk has been dominated by the study of mortality risk. Foodborne risk is, however, in most cases non-fatal and this study therefore focuses on individuals' preferences for reducing morbidity risk related...
Robin Greenwood, Augustin Landier et David Thesmar
n° 11-280, novembre 2011
When a bank experiences an adverse shock to its equity capital, one way to return to target leverage is to sell assets. The price impact of the fire sale may impact other institutions with common exposures, resulting in contagion. We propose a simple framework that accounts for this effect. This...
Helmuth Cremer et Kerstin Roeder
n° 12-314, novembre 2011, révision mai 2012
This paper examines whether myopia (misperception of the long-term care (LTC) risk) and private insurance market loading costs can justify social LTC insurance and/or the subsidization of private insurance. We use a two-period model wherein individuals differ in three unobservable characteristics:...
Nicoletta Berardi et Paul Seabright
n° 11-258, novembre 2011
