This paper examines whether NASDAQ dealers' preopening quotes might be related to non-fundamental information, that is, information about transient trading pressure un- related to fundamentals. Preopening quotes posted by wholesalers (dealers specialized in market-making and thus presumably more...

This paper proposes a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where real money balances enter the production function. By using a Bayesian analysis, our model shows that money is not an omitted input to the production process and rejects the decreasing returns to scale...

The authors analyse the present and coming financial consequences of the revolution caused by the new communication media (TV broadcast, DVD, internet…) towards the diffusion of literary and artistic works protected by intellectual property laws to an increasingly larger public. They...

What are the dynamics of knowledge during planning practices? This research aims to analyze the nature of knowledge dynamics during planning practices. Pierre Bourdieu’s praxeology (1990, 2000) provides a fruitful framework to understand the role and the interactions between knowledge and...

This paper analyzes idea work in haute cuisine through three case studies. Mobilizing Bourdieu’s praxeology, we consider idea work as a practice, an activity that takes sense and meaning in the social world. Thus, idea work reflects the position of the agent in the field and the struggles to...

Within a practice-based approach of organizations, we explore the knowing integration phenomena at the roots of competitive advantage. While former knowing integration studies have pointed to the importance of boundary objects across occupational communities, knowing integration inside a...

In the current New Keynesian literature, the role of monetary aggregates is generally neglected. Yet it’s hard to imagine money completely “passive” to the rest of the system. By entering real money balances in a non-separable utility function, we introduce an explicit role for money via...

Many observers argue that the abnormal accumulation of risk by banks has been one of the major causes of the 2007-2009 financial turmoil. But what could have pushed banks to engage in such a risk race? The answer brought by this paper builds on the classical signaling model by Spence. If...

This paper proposes a Near Explosive Random-Coefficient autoregressive model for asset pricing which accommodates both the fundamental asset value and the recurrent presence of autonomous deviations or bubbles. Such a process can be stationary with or without fat tails, unit-root nonstationary...

The use and the study of ‘practice’ has been widely developed in organization and strategic management research as an intermediary level of analysis between individuals, organizations, market fields and institutions. Bourdieu’s work has been largely mobilized in these studies, particularly...