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Wealth-Path Dependent Utility Maximization in Incomplete Markets

Bouchard, Bruno; Pham, Huyen - Université Paris-Dauphine (Paris IX) - 2004

Motivated by an optimal investment problem under time horizon uncertainty and when default may occur, we study a general structure for an incomplete semimartingale model extending the classical terminal wealth utility maximization problem. This modelling leads to the formulation of a wealth-path...

Persistent link: https://www.econbiz.de/10010861633

Utility Maximization on the Real Line under Proportional Transaction Costs

Bouchard, Bruno - Université Paris-Dauphine (Paris IX) - 2002

We consider a financial market with costs as in Kabanov and Last (1999). Given a utility function defined on ${\mathbb R}$, we analyze the problem of maximizing the expected utility of the liquidation value of terminal wealth diminished by some random claim. We prove that, under the Reasonable...

Persistent link: https://www.econbiz.de/10010706669

Dual Formulation of the Utility Maximization Problem : the case of Nonsmooth Utility

Zhegal, Amina; Touzi, Nizar; Bouchard, Bruno - Université Paris-Dauphine (Paris IX) - 2004

We study the dual formulation of the utility maximization problem in incomplete markets when the utility function is finitely valued on the whole real line. We extend the existing results in this literature in two directions. First, we allow for nonsmooth utility functions, so as to include the...

Persistent link: https://www.econbiz.de/10011166556

World Urbanization Prospects: an alternative to the UN model of projection compatible with urban transition theory

Bocquier, Philippe - Université Paris-Dauphine (Paris IX) - 2004

This paper proposes to critically examine the United Nations projections on urbanisation. Both the estimates of current trends based on national data and the method of projection are evaluated. The theory of urban transition is used as an alternative hypothesis for projections. Alternative...

Persistent link: https://www.econbiz.de/10010708839

Gouvernance, démocratie et lutte contre la pauvreté : enseignements tirés des enquêtes auprès des ménages en Afrique sub-saharienne et en Amérique latine

Roubaud, François; Razafindrakoto, Mireille; Herrera, … - Université Paris-Dauphine (Paris IX)

, governance, and social and political participation). To take up this challenge, modules on Governance, Democracy and Multiple … on governance; the perception of decentralisation policies at local level; the level and vitality of social and political …

Persistent link: https://www.econbiz.de/10011071859

Gouvernance, démocratie et lutte contre la pauvreté en Afrique : Expérience et point de vue de la population de huit métropoles. Enquêtes 1-2-3, premiers résultats

Razafindrakoto, Mireille; Roubaud, François - Université Paris-Dauphine (Paris IX) - 2005

New factors such as governance, ownership and citizen’s participation are now a central focus of development programmes … institutions) and type of political regime or, more generally speaking, the society’s system of values. To meet this major … development and for monitoring them in quantitative terms. Three specific modules (Multiple Dimensions of Poverty, Governance and …

Persistent link: https://www.econbiz.de/10011072021

Are international databases on corruption reliable? A comparison of expert opinion surveys and household surveys in sub-Saharan Africa

Razafindrakoto, Mireille; Roubaud, François - Université Paris-Dauphine (Paris IX) - 2010

This study examines the limits of global corruption indicators based on experts’ perceptions. It draws on a wave of original surveys conducted in eight African countries that combined two types of approaches. The first approach covers a sample of over 35,000 people and uses experience-based...

Persistent link: https://www.econbiz.de/10011073308

Peut-on se fier aux bases de données internationales sur la corruption ? Une confrontation entre enquêtes-experts et enquêtes-ménages en Afrique subsaharienne

Razafindrakoto, Mireille; Roubaud, François - Université Paris-Dauphine (Paris IX) - 2006

The emergence of institutions, governance and especially corruption as major development considerations has generated a … matters of “good governance”. These findings make a case for a more cautious and rational use of global governance indicators …

Persistent link: https://www.econbiz.de/10011073637