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Are derivatives dangerous?
Capelle-Blancard, Gunther - HAL - 2010
Since the 1970s, the financial system has undergone deep structural changes. Innovation has been a key driver of these changes and most economists acknowledge that the impact has been positive overall. However, each time a financial crisis arises, the debate is on. Derivatives especially, which...
Persistent link: https://www.econbiz.de/10010605339
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The Environmental Violence of Volatility
Bouleau, Nicolas - HAL - 2013
Since the Brundtland report in 1987, at the start of the series of United Nations Conferences on the Environment and Development, the world population has grown by more than it was in the time of Adam Smith. Oil consumption has increased by 40% and the trend is similar for other exhaustible...
Persistent link: https://www.econbiz.de/10010739123
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Comparative Advantage and Uncertainty Bearing
Méra, Xavier - HAL - 2013
The law of association as espoused by David Ricardo and generalized by Ludwig von Mises cannot directly convey what is at stake in exchanges involving specialization in uncertainty bearing. In this article we explain why the entrepreneurial function as conceptualized by Frank Knight and Mises...
Persistent link: https://www.econbiz.de/10010674276
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Credit Default Swaps, Contract Theory, Public Debt, and Fiat Money Regimes: Comment on Polleit and Mariano
Méra, Xavier - HAL - 2013
se unobjectionable from Rothbard's libertarian perspective on property rights and contract theory, but that they fail to … correct in pointing out that speculation with CDS can conceivably hurt the borrowers' interests, they fail to grasp that this …
Persistent link: https://www.econbiz.de/10010820940
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A discussion of stock market speculation by Pierre-Joseph Proudhon
Juhel, Jean-Claude; Dufour, Dominique - HAL - 2008
-Joseph Proudhon (1809-1865) in relation to the causes and effects of Stock market speculation. It is based upon the works of this …'s thought in relation to speculation. It is divided into two parts. The first part is dedicated to Pierre-Joseph Proudhon …'s definitions of stock market speculation or gambling with shares that for him served no purpose either from a human or economic …
Persistent link: https://www.econbiz.de/10008791994
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Disagreement-Based Trading and Speculation: Implications for Financial Regulation and Economic Theory
Biondi, Yuri - HAL - 2011
discusses the legal-economic framework of speculation and its recent transformation, making reference to the case of derivatives … model of trade (and speculation) based on disagreement, advocating further developments that take into account market …
Persistent link: https://www.econbiz.de/10008835378
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On the origin of the wta-wtp divergence in public good valuation
Flachaire, Emmanuel; Hollard, Guillaume; Shogren, Jason - HAL - 2011
This paper tests whether individual perceptions of markets as good or bad for a public good is correlated with the propensity to report gaps in willingness to pay (WTP) and willingness to accept (WTA) revealed within an incentive compatible mechanism. Identifying people based on a notion of...
Persistent link: https://www.econbiz.de/10010930167
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Measuring demand for sanitation in developing countries: A new theoretical and methodological framework for contingent valuation surveys
Milanesi, Julien - HAL - 2010
A review shows that contingent valuation (CV) studies implemented in developing countries are generally used to measure demands (for water, sanitation or health services) and neglect the valuation of nonmarket goods (like ecosystems, biodiversity, or environmental amenities). These studies also...
Persistent link: https://www.econbiz.de/10009325701
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Reciprocal relationships in tax compliance decisions
Bazart, Cécile; Bonein, Aurélie - HAL - 2014
tax compliance decisions, we have conducted a laboratory experiment in which we introduced two types of inequities. The …
Persistent link: https://www.econbiz.de/10010820812
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On the origin of the wta-wtp divergence in public good valuation
Flachaire, Emmanuel; Hollard, Guillaume; Shogren, Jason - HAL - 2011
This paper tests whether individual perceptions of markets as good or bad for a public good is correlated with the propensity to report gaps in willingness to pay (WTP) and willingness to accept (WTA) revealed within an incentive compatible mechanism. Identifying people based on a notion of...
Persistent link: https://www.econbiz.de/10010821516