We study the interations between leverage, employment structure and compensation policies within firms. Recent works have shown that there exists heterogeneity in compensation policies across firms (Abowd, Kramarz and Margolis, 1999 and Margolis, 1996). We introduce firms' capital structure in...

Nous abordons la diffcile question de la mesure empirique des effets des problemes d'information sur l'allocation des ressources. deux problemes retiennet notre attention; le risque moral et l'antiselection.

Gollier and Kimball (1994, 1996) have developed a standard technique based on the diffidence theorem. This theorem provides a very simple instrument to solve relatively sophisticated problems when preferences are state independent. The object of this article is to show that their theorem is also...

Le but de cette recherche etait de verifier comment la relation statistique entre les infractions au CSR (code de la securite routiere) et les accidents peut etre influencee par differentes variables differenciant les conducteurs de vehicules lourds (camions et autobus): caracteristiques...

La reglementation de la securite routiere a ete de plusieurs etudes. Sa principale motivation est reliee aux externalites que certains conducteurs peuvent generer a d'autres individus (conducteurs, pietons) et qui ne peuvent etre tarifees directement par different marches prives. L'objectif de...

In this note we analyze the hedging property of an optimal portfolio with one risk-free asset and two risky assets. We make a restriction on the dependence between the two risky assets and show that the sign of the covariance is necessary and sufficient to set the relative investments in the two...

This paper proposes bonus-malus systems for fleets of vehicules, by using the individual characteristics of both the vehicules and the carriers.

This paper uses longitudinal data to perform tests of asymmetric information in the French automobile insurance market for the 1995-1997 period.This market is characterized by the presence of a regulated experience-rating scheme (bonusmalus).We demonstrate that the result of the test depends...

In this paper we show how the order of Linear Stochastic Dominance proposed by Gollier (1995) can be applied to situations with dependent risky assets.