Widespread demand has recently arisen for measures to be taken to provide students in higher education with the opportunity to acquire entrepreneurial skills. Echoes of this demand are to be found in recent work produced by the Organization for Economic Cooperation and Development (OECD) and in...

In this note, we study the problem of existence, uniqueness and determinacy of equilibrium in the two period mean-variance C.A.P.M. with a riskless asset and possibly an infinite number of assets. The existence, uniqueness and determinacy problem is brought down to a two-dimensional problem. We...

Islamic and conventional investment funds have the same purpose. However, unlike conventional funds, Islamic funds offer different investment contracts and have to invest in accordance with a set of selection rules. This dissertation focuses on developing theoretical and empirical analysis...

This paper proposes a consumption-based model that accounts for term premiums of the nominal term structure of interest rates. The model focuses on ex ante term premiums, which depend on the volatility processes of real consumption and inflation. The contribution of the paper is to derive and...

Many empirical and behavioral studies identify a decreasing slope in the term structure of subjective discount rates. Using an experimental methodology based on “free-time” relative comparisons, this paper aims to identify in individual behaviors whether agents see their psychological value...

In this thesis, we propose to test a new behavioral explanation of the equity premium puzzle. This work is based on the heterogeneous beliefs model of Jouini and Napp (2007) according to which, pessimism of investors at the aggregate level leads to very important risk premiums. In this model,...