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Cognition in Seemingly Riskless Choices and Judgments.
Levy-Garboua, L.; Montmarquette, C. - Centre Interuniversitaire de Recherche en Économie … - 1996
We instillate rational cognition and learning in "seemingly riskless" choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. The theory predicts experimental preference reversals and passes a sharp econometric test of the status...
Persistent link: https://www.econbiz.de/10005729521
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Investment Under Demand Uncertainty: The Newsboy Problem Revisited.
Dionne, G.; Mounsif, T. - Centre Interuniversitaire de Recherche en Économie … - 1996
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.
Persistent link: https://www.econbiz.de/10005729617
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Poverty Measurement Under Risk Aversion Using Panel Data
MAKDISSI, Paul; WODON, Quentin; Cruces, Guillermo - Département d'économique, Faculté d'administration - 2003
This paper shows how to take into account risk aversion when measuring poverty under income variability. An application … households are sensitive to assumptions on the degree of risk aversion. The results point to the importance of panel data in … order to account for risk aversion and income variability in the measurement of poverty. …
Persistent link: https://www.econbiz.de/10005196856
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Can Safety Nets Offset the Impact of Risk on Wage Inequality and Social Welfare?
Makdissi, Paul; Wodon, Quentin - Département d'économique, Faculté d'administration - 2002
Income variablity reduces social welfare if individuals are risk averse, and it is likely to increase inequality if … poorer households are more vulnerable to shocks. Using a simple method to estimate risk-adjusted measures of inequality and … welfare and wage data from Mexico, this note shows that it is easier for safety nets to offset the impact of risk on wage …
Persistent link: https://www.econbiz.de/10005770810
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Arbitrage-Based Pricing when Volatility is Stochastic.
Bossaerts, P.; Ghysels, E.; Gourieroux, C. - Centre Interuniversitaire de Recherche en Économie … - 1996
The paper investigates the pricing of derivative securities with calendar-time maturities.
Persistent link: https://www.econbiz.de/10005133099
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Learning and Technology Progress in Dynamic Games
Mirman, Leonard J.; Santugini, Marc - Centre Interuniversitaire sur le Risque, les Politiques … - 2012
We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in which agents not only extract a resource for consumption, but also invest in technology to improve the future stock. At the same time, the agents learn about the stochastic process...
Persistent link: https://www.econbiz.de/10010661508
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La finance islamique: fondements, theorie et realite.
MARTENS, André - Département de Sciences Économiques, Université de … - 2001
L’Islam interdit le riba , mot arabe signifiant à la fois usure et intérêt. L’interdiction du rib figure dans la loi islamique, née dans l’Arabie du Moyen Âge. Elle est à la base de la finance islamique qui connut une expansion remarquable durant la deuxième moitié du XX e siècle....
Persistent link: https://www.econbiz.de/10005353522
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Religion and Economic Growth: Was Weber Right?
Blum, U.; Dudley, L. - Centre Interuniversitaire de Recherche en Économie … - 2001
Evidence of falling wages in Catholic cities and rising wages in Protestant cities between 1500 and 1750, during the spread of literady and the vernacular, is inconsistent with most theorretical models of economic growth. In the Protestant Ethic, Weber suggested an alternative explanation based...
Persistent link: https://www.econbiz.de/10005729526
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La finance islamique: fondements, theorie et realite.
Martens, A. - Centre Interuniversitaire de Recherche en Économie … - 2001
L'Islam interdit le riba, mot arabe signifiant a la fois usure et interet. L'interdiction du riba figure dans la loi islamique, nee dans l'Arabie du Moyen Age. Elle est a la base de la finance islamique qui connut une expansion remarquabke durant la deuxieme moitie du XXe siecle. Nous nous...
Persistent link: https://www.econbiz.de/10005729648
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Religion and Economic Growth: Was Weber Right?
BLUM, Ulrich; DUDLEY, Leonard - Département de Sciences Économiques, Université de … - 2001
Evidence of falling wages in Catholic cities and rising wages in Protestant cities between 1500 and 1750, during the spread of literacy in the vernacular, is inconsistent with most theoretical models of economic growth. In The Protestant Ethic, Weber suggested an alternative explanation based on...
Persistent link: https://www.econbiz.de/10005729672