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The Macroeconomic Effects of Infrequent Information With Adjustment Costs.
Bonomo, M.; Garcia, R. - Centre Interuniversitaire de Recherche en Économie … - 1997
decision variable. In this paper, we develop a simple model which introduces infrequent information in a kinked adjustment cost …
Persistent link: https://www.econbiz.de/10005729530
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Can the Theory of Incentives Explain Devcentralization?
Poitevin, M. - Centre Interuniversitaire de Recherche en Économie … - 2000
based on private information and incentives. …
Persistent link: https://www.econbiz.de/10005729594
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Non-Deteriorating Choice.
Bossert, W.; Sprumont, Y. - Centre Interuniversitaire de Recherche en Économie … - 2001
We analyze an alternative to the standard rationalizability requirement for observed choice bu considering non-deteriorating selections.
Persistent link: https://www.econbiz.de/10005345991
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Arbitrage-Based Pricing when Volatility is Stochastic.
Bossaerts, P.; Ghysels, E.; Gourieroux, C. - Centre Interuniversitaire de Recherche en Économie … - 1996
The paper investigates the pricing of derivative securities with calendar-time maturities.
Persistent link: https://www.econbiz.de/10005133099
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Contracting for Innovation under Knightian Uncertainty
Amarante, Massimiliano; Ghossoub, Mario; Phelps, Edmund - Centre Interuniversitaire de Recherche en Économie … - 2012
At any given point in time, the collection of assets existing in the economy is observable. Each asset is a function of a set of contingencies. The union taken over all assets of these contingencies is what we call the set of publicly known states. An innovation is a set of states that are not...
Persistent link: https://www.econbiz.de/10010616508
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Cognition in Seemingly Riskless Choices and Judgments.
Levy-Garboua, L.; Montmarquette, C. - Centre Interuniversitaire de Recherche en Économie … - 1996
We instillate rational cognition and learning in "seemingly riskless" choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. The theory predicts experimental preference reversals and passes a sharp econometric test of the status...
Persistent link: https://www.econbiz.de/10005729521
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Moral Hazard and Marshallian Inefficiency: Evidence from Tunisia.
Al, C.; Arcand, J.L.; Ethier, F. - Centre Interuniversitaire de Recherche en Économie … - 1996
In the presence of moral hazard, received agency theory predicts the "Marshallian inefficiency" of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. In this paper, we test for the presence of Marshallian inefficiency using a...
Persistent link: https://www.econbiz.de/10005729544
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Investment Under Demand Uncertainty: The Newsboy Problem Revisited.
Dionne, G.; Mounsif, T. - Centre Interuniversitaire de Recherche en Économie … - 1996
In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product.
Persistent link: https://www.econbiz.de/10005729617
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What is Ambiguity?
AMARANTE, Massimiliano - Centre Interuniversitaire de Recherche en Économie … - 2014
The concept of Ambiguity designates those situations where the information available to the decision maker is …? The present paper fi…lls these gaps. Speci…fically, it identifi…es those information structures that are incompatible with … information. These are used to give a formal de…finition of Ambiguity and, consequently, to distinguish between ambiguous and …
Persistent link: https://www.econbiz.de/10010927917
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Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information.
Dionne, G.; Fombaron, N. - Centre Interuniversitaire de Recherche en Économie … - 1995
Persistent link: https://www.econbiz.de/10005345982