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Persistent link: https://www.econbiz.de/10010861635
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
supply of skill). Third, OC leads to greater productivity increases in establishments with larger initial skill endowments …
Persistent link: https://www.econbiz.de/10011166383
Les gains de productivité constituent sur le moyen-long terme l’un des principaux vecteurs de développement d’une entreprise et, au niveau macro-économique, la principale source de l’élévation du niveau de vie moyen d’une population.
Persistent link: https://www.econbiz.de/10010706779
This paper brings together the latest data and OECD productivity indicators in different areas with the aim of … reviewing the main productivity trends over the past decade, comparing the United States, Europe and to some extent Japan …. Concerning economy wide indicators of productivity, the slowdown appears to be due to a significant slowdown in investment in …
Persistent link: https://www.econbiz.de/10010708744
We introduce differential information in the asset market model studied by Cheng (1991), Dana and Le Van (1996) and Le Van and Truong Xuan (2001). An equilibrium existence result is proven assuming that the economy's information structure satisfies the conditional independency property. If...
Persistent link: https://www.econbiz.de/10010708601
Radner (1968) proved existence of a competitive equilibrium for differential information economies with finitely many states. We extend this result to economies with infinitely many states of nature. Each agent observes a public and a private signal. The publicly observed signal may take...
Persistent link: https://www.econbiz.de/10011072571
Questioning about game theory as an institutionalism theory could seem unsound at first glance. In game theory, the very basic concept of players’ strategies is quite individualistic and really independent on any social constraint and other institutional consideration. On another hand, the...
Persistent link: https://www.econbiz.de/10010706585
Toward the late 1990s, several research groups independently began developing new, related theories in mathematical finance. These theories did away with the standard stochastic geometric diffusion "Samuelson" market model (also known as the Black-Scholes model because it is used in that most...
Persistent link: https://www.econbiz.de/10010708795
The set of all Bayesian–Nash equilibrium payoffs that the players can achieve by making conditional commitments at the interim stage of a Bayesian game coincides with the set of all feasible, incentive compatible and interim individually rational payoffs of the Bayesian game. Furthermore, the...
Persistent link: https://www.econbiz.de/10010708872