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The Macroeconomic Effects of Infrequent Information With Adjustment Costs.
Bonomo, M.; Garcia, R. - Centre Interuniversitaire de Recherche en Économie … - 1997
decision variable. In this paper, we develop a simple model which introduces infrequent information in a kinked adjustment cost …
Persistent link: https://www.econbiz.de/10005729530
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Risk Classification in Insurance Contracting
Dionne, Georges; Rothschild, Casey G. - Centre Interuniversitaire sur le Risque, les Politiques … - 2011
expected claims, compute the corresponding premiums, and thereby reduce asymmetric information. An efficient risk … asymmetric information. …
Persistent link: https://www.econbiz.de/10009369377
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Can the Theory of Incentives Explain Devcentralization?
Poitevin, M. - Centre Interuniversitaire de Recherche en Économie … - 2000
based on private information and incentives. …
Persistent link: https://www.econbiz.de/10005729594
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Entry, Imperfect Competition, and Futures Market for the Input
Dionne, Georges; Santugini, Marc - Centre Interuniversitaire sur le Risque, les Politiques … - 2012
We analyze firms’ entry, production and hedging decisions under imperfect competition. We consider an oligopoly industry producing a homogeneous output in which risk-averse firms face an entry cost upon entering the industry, and then compete in Cournot with one another. Each firm faces...
Persistent link: https://www.econbiz.de/10010884971
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Contracting for innovation under knightian uncertainty
AMARANTE, Massimiliano; GHOSSOUB, Mario; PHELPS, Edmund - Département de Sciences Économiques, Université de … - 2012
At any given point in time, the collection of assets existing in the economy is observable. Each asset is a function of a set of contingencies. The union taken over all assets of these contingencies is what we call the set of publicly known states. An innovation is a set of states that are not...
Persistent link: https://www.econbiz.de/10010933661
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Risk Aversion and International Environmental Agreements
Boucher, Vincent; Bramoullé, Yann - Centre Interuniversitaire sur le Risque, les Politiques … - 2007
We introduce uncertainty and risk aversion to the study of international environmental agreements. We consider a simple model with identical agents and linear payoffs. We show that a stable treaty with positive action always exists. While uncertainty lowers the action of signatories, we find...
Persistent link: https://www.econbiz.de/10005015311
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Non-Deteriorating Choice.
Bossert, W.; Sprumont, Y. - Centre Interuniversitaire de Recherche en Économie … - 2001
We analyze an alternative to the standard rationalizability requirement for observed choice bu considering non-deteriorating selections.
Persistent link: https://www.econbiz.de/10005345991
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The Macroeconomic Effects of Infrequent Information with Adjustment Costs
BONOMO, Marco; GARCIA, René - Département de Sciences Économiques, Université de … - 1997
their decision variable. In this paper, we develop a simple model which introduces infrequent information in a kinked …. Periodic releases of macroeconomic statistics or dividend announcements are examples of such infrequent information arrivals … results differ substantially from the ones obtained with full information adjustment cost models. …
Persistent link: https://www.econbiz.de/10005353159
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Moral Hazard and Marshallian Inefficiency: Evidence from Tunisia.
Al, C.; Arcand, J.L.; Ethier, F. - Département de Sciences Économiques, Université de … - 1996
In the presence of moral hazard, received agency theory predicts the "Marshallian inefficiency" of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. in this paper, we test for the presence of Marshallian inefficiency using a...
Persistent link: https://www.econbiz.de/10005353203
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An Extension of the Consumption-based CAPM Model
Dionne, Georges; Li, Jingyuan; Okou, Cedric - Centre Interuniversitaire sur le Risque, les Politiques … - 2012
We extend the Consumption-based CAPM (C-CAPM) model to representative agents with different risk attitudes. We first use the concept of expectation dependence and show that for a risk averse representative agent, it is the first-degree expectation dependence (FED) rather than the covariance that...
Persistent link: https://www.econbiz.de/10010535500