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Innovation, Learning and Construal Levels in the Modern Workplace
Reyt, Jean-Nicolas - Université Paris-Dauphine (Paris IX) - 2014
construal level theory to explore the relationship between workers’ roles and the types of knowledge that workers create and …Knowledge is increasingly recognized as one of the most critical resources in the modern workplace, because the way … knowledge is learned, shared and used determines organizational innovation and effectiveness. In my dissertation, I build on …
Persistent link: https://www.econbiz.de/10010938596
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APPROXIMATE HEDGING IN A LOCAL VOLATILITY MODEL WITH PROPORTIONAL TRANSACTION COSTS
Quoc, Tuan Tran; Lépinette-Denis, Emmanuel - Université Paris-Dauphine (Paris IX) - 2014
Local volatility models are popular because they can be simply calibrated to the market of European options. We extend the results of [4], [3] for such models, i.e. we propose a modi ed Leland method which allows us to approximately replicate a European contingent claim when the market is under...
Persistent link: https://www.econbiz.de/10010799310
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Essential Supremum with Respect to a Random Partial Order
Kabanov, Yuri; Lépinette-Denis, Emmanuel - Université Paris-Dauphine (Paris IX) - 2013
Inspired by the theory of financial markets with transaction costs, we study a concept of essential supremum in the …
Persistent link: https://www.econbiz.de/10010721349
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Mean Square Error and Limit Theorem for the Modi fied Leland Hedging Strategy with a Constant Transaction Costs Coefficient
Lépinette-Denis, Emmanuel; Darses, Sébastien - Université Paris-Dauphine (Paris IX) - 2014
We study the Leland model for hedging portfolios in the presence of a constant proportional transaction costs coefficient. The modi fied Leland's strategy defi ned in [2], contrarily to the classical one, ensures the asymptotic replication of a large class of payoff . In this setting, we prove a...
Persistent link: https://www.econbiz.de/10010729320
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The Governance of Transactions by Commercial Intermediaries: An Analysis of the Re-engineering of Intermediation by Electronic Commerce
Brousseau, Eric - Université Paris-Dauphine (Paris IX) - 2002
Efficiency arguments explain why commercial intermediaries exist and will continue to be involved in the exchanges despite the spread of digital networks. Commercial intermediaries provide producers and consumers with a set of information, logistic, securization and insurance (and liquidity)...
Persistent link: https://www.econbiz.de/10010735773
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On the existence of shadow prices
Muhle-Karbe, Johannes; Kallsen, Jan; Campi, Luciano; … - Université Paris-Dauphine (Paris IX) - 2013
For utility maximization problems under proportional transaction costs, it has been observed that the original market with transaction costs can sometimes be replaced by a frictionless {\em shadow market} that yields the same optimal strategy and utility. However, the question of whether or not...
Persistent link: https://www.econbiz.de/10010861554
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The number of securities giving the maximum return in the presence of transaction costs
Lajili, Souad; Rakotondratsimba, Yves - Université Paris-Dauphine (Paris IX) - 2008
An essential element of any realistic investment portfolio selection is the consideration of transaction costs. Our purpose, in this paper, is to determine the maximum return and the corresponding number of securities to buy giving such return, whenever practical constraints features related to...
Persistent link: https://www.econbiz.de/10010748209
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General equilibrium with producers and brokers existence and regularity
Jouini, Elyès; Kallal, Hedi - Université Paris-Dauphine (Paris IX) - 1993
In this paper we prove the existence of general equilibrium with transaction costs generalizing Hahn's (Review of Economic Studies, 1973, 40, 449-461) model by introducing producers and nonconvexities (in particular we allow for increasing returns in transaction sets). We also recover any...
Persistent link: https://www.econbiz.de/10010707098
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Robust No Arbitrage Condition for Continuous-Time Models with Transaction Costs
Lépinette-Denis, Emmanuel - Université Paris-Dauphine (Paris IX) - 2011
We extend the Robust No Free Lunch (RNFL) theorem formulated for discrete-time models with proportional transaction costs to general continuous-time settings. We prove that the (RNFL) condition is equivalent to the existence of a strictly consistent price system, i.e. a martingale evolving in...
Persistent link: https://www.econbiz.de/10010707588
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La concurrence entre monnaie interne et monnaie externe : le point de vue des deux circulations
Cartelier, Jean; Rojas Breu, Mariana - Université Paris-Dauphine (Paris IX) - 2009
We present a model to analyze different equilibria that exist in an economy in which agents can choose the means of payment to use in trade ; i. e., inside or outside money. Our approach departs from the usual explanation of competition as a phenomenon related to money functions (means of...
Persistent link: https://www.econbiz.de/10010707788