[fre] L'organisme de capital-risque qui a investi dans une jeune entreprise innovante a deux modes de sortie : l'introduction en bourse (marché IPO) et le rachat par une grande firme (M&A). Le marché financier concentre l'attention des professionnels qui ont vu en lui un Eldorado. Sa...

Addressing issues of social diversity, we introduce a model of housing transactions between agents who are heterogeneous in their willingness to pay. A key assumption is that agents' preferences for a location depend on both an intrinsic attractiveness and on the social characteristics of the...

Starting from some regularities of the Boulogne s/mer fish market, the model proposed here shows that in many circumstances the collective behavior may be ‘reasonable’ whereas the individuals may not be so. The properties which are empirically clear at the aggregate level are not necessarily...

The empirical analysis of fish markets always reveals strong price dispersion for homogeneous or very similar goods. The problem is how to explain this price dispersion on a market where there is no evident arbitrage. Explanations proposed by different authors include differences in...

The question of efficiency of market organization is an important one in economics. When theoretical results suggest the dominance of auctions, empirical studies present more mitigated results putting forward that the global efficiency depends on agents' characteristics and market environment....

[eng] Champagne is a product whose quality is difficult to evaluate, even a posteriori, by the consumer. Firms exploit this particularity and invest in reputation either by producing a wine of high quality or by means of public recognition through advertising. Thus, it is optimal for a producer...