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...

A theory of incomplete preferences under uncertainty is proposed, according to which a decision maker's preferences are indeterminate if and only if her confidence in the relevant beliefs does not match up to the stakes involved in the decision. We use the model of confidence in beliefs...

Comme l’a montré la crise actuelle, les marchés immobiliers sont à l’origine de chocs macroéconomiques importants, ce qui justifie un suivi régulier du double point de vue de la politique monétaire et de la stabilité financière.

The Economic Cycle Theory, having been a somehow abandoned during several decades, returns to get important with the recent World Financial Crisis 2007-2010. This book, based upon a theses sustained in 2007, advances and argues the possibility of an almost unavoidable world cyclic plunge of...

The Economic Cycle Theory, having been a somehow abandoned during several decades, returns to get important with the recent World Financial Crisis 2007-2010. This book, based upon a theses sustained in 2007, advances and argues the possibility of an almost unavoidable world cyclic plunge of...

The Economic Cycle Theory, having been a somehow abandoned during several decades, returns to get important with the recent World Financial Crisis 2007-2010. This book, based upon a theses sustained in 2007, advances and argues the possibility of an almost unavoidable world cyclic plunge of...

The Economic Cycle Theory, having been a somehow abandoned during several decades, returns to get important with the recent World Financial Crisis 2007-2010. This book, based upon a theses sustained in 2007, advances and argues the possibility of an almost unavoidable world cyclic plunge of...

Short lived arbitrage opportunities arise when prices adjust with a lag to new information. They are toxic because they expose dealers to the risk of trading at stale quotes. Hence, theory implies that more frequent toxic arbitrage opportunities and a faster arbitrageurs' response to these...

We reformulate Grandmont's and its successors' notion of behavioral heterogeneity such as to get the exact insensitivity of the aggregate budget share function with respect to changes in prices and income, instead of a mere approximate insensitivity. We propose a non parametric set-up such that,...