This paper gives some insights related to the combination of exploration and exploitation behaviors. A recurrent question for firms deals with this blend of exploration and exploitation mechanisms. Firms are engaged in new activities like research and at the same time in more routine ones like...

In this paper, we examine the effect of a decrease in risk on the demand for risky asset in the standard portfolio problem. We introduce a new class of dominance, that we name relative order and we prove that this class of dominance is consistent both with central dominance introduced by Gollier...

This paper deals with the last research decades about the concept of milieu innovateur as it has been created and utilized by a European research network, the GREMI, working on the territorial aspects of innovation and development. From the early typologies of territories innovation trajectoires...

In this paper, we introduce input-specific externalities in a dynamic general equilibrium model with heterogeneous households and a finance constraint (Woodford (1986)). In contrast to existing papers, average labor and capital have not a positive impact on the total productivity of factors, but...

In this paper, we prove a fixed-point-like theorem for multi-valued mappings defined on the finite Cartesian product of Grassmannian manifolds and convex sets. Our result generalizes two different kinds of theorems : the fixed-point-like theorem by Hirsh, Magill, Mas-Colell (1990) or Husseiny,...

The persistence of high rates of unemployment calls for a discussion of the tax treatment of production factors. In France as in many other countries, material productive resources are subject to a legally recoverable tax, VAT, whereas unrecoverable obligatory social levies strike human...

Recently, Nicolas Bouleau has proposed an extension of the Donsker's invariance principle in the framework of Dirichlet forms. He proves that an erroneous random walk of i.i.d random variables converges in Dirichlet law toward the Ornstein-Uhlenbeck error structure on the Wiener space [4]. The...

We prove the existence of subsidy free and sustainable pricing schedule in multiproduct contestable markets. We allow firms to discriminate the local markets that are composed by a set of the products line and a set of agents. Results are obtained under an assumption of fair sharing cost and...

Higher education establishments have a very important role for local development, especially for medium-sized towns. Universities are at the origin of jobs, and income, therefore they play a role for local development. In the last decades, local authorities have found it logical to relocate...

This paper analyzes the implications of the distribution of emission permits related to a strategic environmental policy and shows how it alters the competitive relation among firms in the international product market. Our model introduces permits trading into the Brander-Spencer [1985]...