We study the links between observation and flexible technological choices in a duopolistic industry. We show that, in large markets, the strategic value of flexibility is positive and the observation of technological choices promotes the adoption of more flexible technologies whereas in small...

This paper develops a theory of the centralization of firms engaged in multi-market collusive agreements. A centralized organization (called the unitary or U-form) allows price coordination across several markets, whereas with decentralized (the multidivisional or M-form) firms the probability...

This paper aims at investigating the determinants of self- employment within a structural model of discrete choice under uncertainty. The basic idea of our approach centres around Knight's (1921) famous view of entrepreneurs receiving risk-adjusted income that has to exceed the income of...

We present an intertemporal model of consumption and savings incorporating liquidity constraints and non-separable preferences. We solve the problem numerically and characterize the optimal consumption behavior. We explore the traditional puzzles highlighted in the empirical literature as excess...

Cet article analyse l'effet sur l'emploi d'une baisse des cotisations patronales à la Sécurité Sociale. Selon la version belge du modèle macrosectoriel HERMES, cet effet est assez faible, en particulier si on le compare à des résultats issus du modèle de déséquilibre conçu au sein du...

Le fait qu'aucun individu ne préfère l'allocation d'un autre à la sienne propre est identique à l'égalité de la liberté qui est - en un sens large - la forme nécessaire de la justice dans la société. Cet article montre les propriétés et sens principaux de ce critère et les...

This paper outlines a methodology to identify the preference parameters that characterize household behaviour over the life-cycle, through the specification and estimation of a model of individual behaviour. The focus of this research is directed towards commodity demands, female labour supply...