In this paper we show how a shift in a return distribution affects the composition of an optimal portfolio in the case of one riskless asset and two risky assets. We obtain that, in general, such a shift modifies the composition of themutual fund. We also show that the separating conditions...

In this research, we introduce information structure as a variable to explain differences in salary profiles and rates of separation among firm.

In this paper we show how the order of Linear Stochastic Dominance proposed by Gollier (1995) can be applied to situations with dependent risky assets.

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.

How does risk aversion affect choices when expenses improve probabilities? Attempts to answer this question in the literature found an endogenous switching probability. In this paper we introduce a new concept of comparative attitude to risl, namely proper risk behavior and determine 1/2 as the...

Dans cet article, nous presentons une revue de la litterature sur l'offre d'assurance non vie. Nous insistons sur le fait qu'un assureur est un intermediaire financier qui reduit les couts de transaction dans l'economie en permettant a des agents de se proteger contre certains risques, tout en...

We study the interations between leverage, employment structure and compensation policies within firms. Recent works have shown that there exists heterogeneity in compensation policies across firms (Abowd, Kramarz and Margolis, 1999 and Margolis, 1996). We introduce firms' capital structure in...