We study the links between observability and flexible technological choices in a duopolistic market. We show that, in large markets, the strategic value of flexibility is positive and observability of technological choices promotes the adoption of more flexible technologies whereas in small...

We study the development of a duopoly industry -evolution of firm capacities and competitive behavior- in a continuous-time real-options model of capacity investment. Our methodology allows the evaluation of investment options and exercise rules in a strategic setup. In the initial industry...

We study a simple duopoly model of preemption with multiple investments and instantaneous Bertrand competition in a stochastically growing market. Different patterns of equilibria may arise, depending on the importance of the real option effect. If the average growth rate of the market is close...

" Switzerland is the growth laggard in the industrial world " - this dismal view has become part and parcel of today's conventional wisdom in Switzerland and elsewhere. We show it to be but partially true : accurate when judged by the trend growth rate of officially recorded real GDPs in...

Dans cet article nous nous proposons d'analyser les effets de l'ouverture à la concurrence sur les stratégies de tarification des ventes liées à travers un modèle de choix discret. Nous montrons que dans une situation de duopole vendre les biens de manière indépendante est un équilibre...

French Abstract: Les économistes ont coutume de distinguer entre une composante positive et une composante normative de leurs travaux, ce qui est une singularité de leur discipline, car cette distinction n'a pas de répondant exact dans les autres sciences sociales. Elle a fortement évolué...

In the development of the general equilibrium theories, Hicks and Allais played an essential role. We are studying here the contributions which were theirs respectively in Value and Capital (1939) and in the Traité d’économie pure (1943). The accent is put on three points: the theory of...

French Abstract: Le monde traverse une crise sans précédent qui mêle finance, économie, social et culture. Si nous ne voulons pas être rejetés de ce monde, il faut alors questionner l’utopie fondatrice de nos sociétés modernes. Cette utopie a fondé la reconnaissance de la liberté...

International comparisons of living standards are still primarily made using GDP per capita, in spite of recurrent criticism that this is a partial and ill-founded measure of social welfare (Sen). Alternative measures abound, such as the Index of Human Development computed by the United Nations...