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Augustin Landier et David Thesmar
13 janvier 2010
Emmanuelle Auriol et Pierre M. Picard
Christian Gollier et Jean Tirole
6 janvier 2010
Helmuth Cremer et Pierre Pestieau
2009
Catherine Casamatta et Sébastien Pouget
n° 09-042, 2009, révision octobre 2015
This paper considers the problem faced by long-term investors who have to delegate the management of their money to professional fund managers. Investors can earn profits if fund managers collect long-term information. We investigate to what extent the delegation of fund management prevents long-...
Cécile Aubert
n° 09-127, décembre 2009
We investigate the interactions between managers’ incentives to collude or compete, and incentives to exert effort. A manager privately chooses the competitive strategy of the firm, and his own effort to improve productivity; He may substitute collusion to effort to increase profits. High profit...
Klenio Barbosa
n° 09-128, décembre 2009
Low-powered contracts do not provide proper incentives to reduce cost; still empirical studies show that they are quite pervasive in public and private procurement. This paper argues that low-powered contracts arise due to a free-riding problem when the contractor enjoys economies of scale/scope...
Nicoletta Berardi
n° 09-129, décembre 2009
We develop a theoretical framework that considers the role played by moral hazard and the diversity of networks and cultures in the choice of hiring channel. Our model explains why either informal or formal hiring channels are preferred and either positive or negative wage differentials emerge for...
Antoine Bommier et Stéphane Zuber
n° 09-132, décembre 2009
The Pareto principle is often viewed as a mild requirement compatible with a variety of value judgements. In particular, it is generally thought that it can accommodate different degress of inequality aversion. We show that this is generally not true in time consistent intertemporal models where...
Sandrine Casanova
n° 09-133, décembre 2009
Estimating the cumulative distribution function in survey sampling is of interest on the population but also on a sub-population (domain). However, in most practical applications, sample sizes in the domains are not large enough to produce sufficiently precise estimators. Therefore, we propose new...
