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Étienne de Villemeur et Annalisa Vinella
n° 10-182, 13 juillet 2010
We consider electricity generation industries where thermal operators imperfectly compete with hydro operators that manage a (scarce) water stock stored in reservoirs over a natural cycle. We explore how the exercise of intertemporal market power affects social welfare and environmental quality. We...
Augustin Landier
9 juillet 2010
Augustin Landier et David Thesmar
7 juillet 2010
Marcel Boyer, Pierre Lasserre et Michel Moreaux
n° 10-171, 6 juillet 2010
We model investments in capacity in a homogeneous product duopoly facing uncertain demand growth. Capacity building is achieved through adding production units that are durable and lumpy and whose cost is irreversible. There is no exogenous order of moves, no first-mover or second-mover advantage,...
Jean-Pierre Florens
n° 10-172, juin 2010
This paper gives a survey of econometric models characterized by a relation between observable and unobservable random elements where these unobservable terms are assumed to be independent of another set of observable variables called instrumental variables. This kind of specification is usefull to...
Marco Bonomo, René Garcia, Nour Meddahi et Roméo Tédongap
n° 10-187, juin 2010
We propose an asset pricing model where preferences display generalized disappointment aversion (Routledge and Zin, 2009) and the endowment process involves long-run volatility risk. These preferences, which are embedded in the Epstein and Zin (1989) recursive utility framework, overweight...
Andrea Attar, Thomas Mariotti et François Salanié
juin 2010, révision juillet 2011
Christian Gollier
juin 2010
François Boldron, Frédérique Fève, Jean-Pierre Florens, C. Panet-Amaro et C. Valognes
n° 10-180, juin 2010
Bruno Jullien et Wilfried Sand-Zantman
collection « Rapport IDEI », n° 16, juin 2010
