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Emmanuelle Auriol
12 octobre 2010
Giuseppe Marco Attanasi et Aldo Montesano
n° 10-193, septembre 2010
In this paper ambiguity aversion is measured through the maximum price the decision maker is willing to pay in order to know the probability of an event. Two comparative problems are examined in which the decision maker faces an act: in one case buying information implies playing a lottery, while...
Augustin Landier, David Sraer et David Thesmar
n° 10-199, septembre 2010
Using loan level data, we investigate the lending behavior of a large subprime mortgage issuer prior to its bankruptcy in the beginning of 2007. In 2004, this firm suddenly started to massively issue new loans contracts that featured deferred amortization ("interestonly loans") to high income and...
Bruno Biais, Jean-Charles Rochet et Paul Woolley
n° 10-200, septembre 2010
This research was conducted within the Paul Woolley Research Initiative on Capital Market Dysfunctionalities at IDEI, Toulouse. Support from the Europlace Institute of Finance is gratefully aknowledged. Many thanks to participants in the first conference of the Centre for the Study of Capital...
Jean-Paul Azam
n° 10-229, septembre 2010
Somaliland has recently developed an unexpected democracy after seceding from chaos-ridden Somalia, while turning its port of Berbera into a success story, competing successfully with the long established ones in the Horn of Africa. A simple game-theoretic model is used to explain why the home-...
Claude Crampes et Thomas-Olivier Léautier
septembre 2010
Diego Comin et Marti Mestieri
n° 16379, septembre 2010
Bruno Jullien et Wilfried Sand-Zantman
collection « Rapport IDEI », n° 19, septembre 2010
Yann Bramoullé et Gilles Saint-Paul
vol. 145, n° 5, septembre 2010, p. 1890–1920
This paper studies the dynamics of fundamental research. We develop a simple model where researchers allocate their effort between improving existing fields and inventing new ones. A key assumption is that scientists derive utility from recognition from other scientists. We show that the economy...
Patrick Fève, Julien Matheron et Jean-Guillaume Sahuc
vol. 120, n° 547, septembre 2010, p. 1100–1124
