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What Discount Rate Should Bankruptcy Judges Use? Estimate from Canadian Reorganization Data
Barthelemy, Fabrice; Fisher, Timothy; Martel, Jocelyn - HAL - 2009
Using data from financial reorganization plans filed by insolvent Canadian firms, we estimate the discount rate implicit in theunsecured creditors' reorganization decision. Using (HARA) utility functions, we find the implicit monthly discount rate of creditors to be 4.9%, which corresponds to an...
Persistent link: https://www.econbiz.de/10010552082
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Ecological intuition versus economic "reason"
Guesnerie, Roger; Lasry, Jean-Michel; Guéant, Olivier - HAL - 2009
This article discusses the discount rate to be used in projects that aimed at improving the environment. The model has two different goods, one is the usual consumption good whose production may increase exponentially, the other is an environmental good whose quality remains limited. The...
Persistent link: https://www.econbiz.de/10010738905
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Braving the waves: the role of time and risk preferences in illegal migration from Senegal
Arcand, Jean-Louis; MBAYE, Linguère Mously - HAL - 2013
This paper aims to provide the first evidence concerning the relationship between time and risk preferences and illegal migration in an African context. Based upon our theoretical model and using a unique data set on potential migrants collected in urban Senegal, we evaluate a measure of time...
Persistent link: https://www.econbiz.de/10010821420
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Discounting and Divergence of Opinion
Jouini, Elyès; Marin, Jean-Michel; Napp, Clotilde - HAL - 2010
The objective of this paper is to adopt a general equilibrium model and determine the socially efficient discount factor, risk free rate and discount rate when there are heterogeneous anticipations about the growth of the economy as well as heterogeneous time preference rates. Among others we...
Persistent link: https://www.econbiz.de/10008790390
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The Cournot outcome as the result of price competition
Jara-Moroni, Pedro - HAL - 2008
engage simultaneously in capacity (production) and, after production levels are made public, there is sequential price … competition in the second stage. Randomizing the order of play in the price subgame, we can find: (i) that the Cournot outcome can …
Persistent link: https://www.econbiz.de/10010739046
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Les médicaments orphelins : rétrospective et perspectives du marché européen Orphan drugs : retrospective and prospective analysis of the european market
Fauvelle, Khristina - HAL - 2012
L'industrie pharmaceutique, en mutation, est en quête de relais de croissance. Les médicaments orphelins sont destinés à traiter les maladies rares, dont la prévalence statistique est inférieure à 1 personne sur 2000. Les milliers de maladies rares affectent dans leur ensemble des...
Persistent link: https://www.econbiz.de/10010630686
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Impact of Rising World Rice Prices on Poverty and Inequality in Burkina Faso
Badolo, Félix; Traore, Fousseini - HAL - 2012
countries, but the magnitude is not the same in all countries. This paper assesses the impact of rising rice price on poverty …
Persistent link: https://www.econbiz.de/10010821230
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The impact of price display on perceptions of luxury: a masstige perspective
Parguel, Béatrice; Delécolle, Thierry; … - HAL - 2014
Based on two experimental studies in which college students participated, this paper investigates the impact of price … display in the luxury sector on low-end brands perceived luxury and attitude. In Study 1, we show that price display is … and conspicuousness. In addition, Study 2 indicates no negative effect of price display on perceptions of luxury for a …
Persistent link: https://www.econbiz.de/10010821382
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What is the Price of Carbon? Five definitions
Ha-Duong, Minh - HAL - 2009
Combien vaut une tonne de CO2 non émise dans l'atmosphère ? Tout dépend de ce qu'on entend par valeur ! Cette note recadre et illustre cinq définitions différentes fréquement utilisées: 1. La réduction espérée du dommage du changement climatique, 2. Le coût de réduction des...
Persistent link: https://www.econbiz.de/10008789163
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An exploratory study of the implications of free admission to museums and monuments : perceptions and effects on visiting behaviors.
Gall-Ely, Marine Le; Urbain, Caroline; Gombault, Anne; … - HAL - 2007
What perceptions of free admission to museums and monuments do French visiting and non-visiting audiences have ? What are the consequences of such perceptions on individuals' perceptions, visit-planning and behavior patterns in museums and monuments ? Research conducted between 2002 and 2003...
Persistent link: https://www.econbiz.de/10008789380