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Integrating Real and Financial Decisions of the Firm
Mirman, Leonard J.; Salgueiro, Egas M.; Santugini, Marc - Centre Interuniversitaire sur le Risque, les Politiques … - 2013
We study the issue of integrating real and financial decisions in a monopoly firm with risk-averse decision-makers. To that end, we combine the decisions of the firm and of the shareholders in a very simple but robust model, with uncertainty in the real market and CARA preferences. We show the...
Persistent link: https://www.econbiz.de/10011263110
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On Nonrenewable Resource Oligopolies : The Asymmetric Case
BENCHEKROUN, Hassan; HALSEMA, Alex; WITHAGEN, Cees - Centre Interuniversitaire de Recherche en Économie … - 2008
We give a full characterization of the open-loop Nash equilibrium of a non-renewable resource asymmetric game. We show that (i) there almost always exists a phase where both supply simultaneously positive quantities, (ii) when the high cost mine is exploited by a number of firms that goes to...
Persistent link: https://www.econbiz.de/10008617040
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Nonrenewable Resource Oligopolies and the Cartel-Fringe Game
BENCHEKROUN, Hassan; WITHAGEN, Cees - Centre Interuniversitaire de Recherche en Économie … - 2008
We specify and solve a closed-loop dominant firm nonrenewable resource game, with a price-taking fringe. We show that (i) the outcomes of the closed-loop and the open-loop dominant firm nonrenewable resource game (à la Salant 1976) coincide and (ii) when the number of fringe firms becomes...
Persistent link: https://www.econbiz.de/10008617063
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Nominal Wage Rigidity as a Nash Equilibrium
Ambler, Steve - Centre Interuniversitaire sur le Risque, les Politiques … - 2003
Models of the microfoundations of nominal price rigidities show that in the absence of real rigidities, individual firms have strong incentives to adjust prices even if other firms do not: price rigidity is not a Nash equilibrium unless the fixed cost of adjusting prices is implausibly high....
Persistent link: https://www.econbiz.de/10005670272
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What is Ambiguity?
AMARANTE, Massimiliano - Centre Interuniversitaire de Recherche en Économie … - 2014
The concept of Ambiguity designates those situations where the information available to the decision maker is …? The present paper fi…lls these gaps. Speci…fically, it identifi…es those information structures that are incompatible with … information. These are used to give a formal de…finition of Ambiguity and, consequently, to distinguish between ambiguous and …
Persistent link: https://www.econbiz.de/10010927917
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Non-Convexities and Efficiency of Equilibria in Insurance Markets with Asymmetric Information.
Dionne, G.; Fombaron, N. - Centre Interuniversitaire de Recherche en Économie … - 1995
Persistent link: https://www.econbiz.de/10005345982
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Disclosure of Information in regulatory Proceedings.
Lewis, T.; Poitevin, M. - Centre Interuniversitaire de Recherche en Économie … - 1994
Persistent link: https://www.econbiz.de/10005346016
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Sequential Location Equilibria Under Incomplete Information.
Boyer, M.; Laffont, J.J.; Mahenc, P.; Moreau, M. - Centre Interuniversitaire de Recherche en Économie … - 1994
Persistent link: https://www.econbiz.de/10005353025
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COMPETITIVE SCREENING IN FINANCIAL MARKET WHEN BORROWERS CAN RECONTRACT.
BEAUDRY, P.; POITEVIN, M. - Centre Interuniversitaire de Recherche en Économie … - 1990
Persistent link: https://www.econbiz.de/10005353037
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Information Sharing and the Stability of Cooperation in Research Joint Ventures.
Atallah, G. - Centre Interuniversitaire de Recherche en Économie … - 2000
The Model studies information sharing and the stability of cooperation in cost Research Joint Ventures (RJVs). …
Persistent link: https://www.econbiz.de/10005353055