We propose a novel methodology for forecasting chaotic systems which is based on the nearest-neighbor predictor and improves upon it by incorporating local Lyapunov exponents to correct for its inevitable bias. Using simulated data, we show that gains in prediction accuracy can be substantial....

Lors du trimestre d’été 2004, une quarantaine d’étudiants du programme de B.A.A. de HEC Montréal se sont inscrits à un cours de politique économique de deuxième année donné sous un format en ligne à distance. La formule pédagogique retenue qui ne nécessitait aucune présence en...

In this paper we model the market for a homogeneous good and examine the role of information in determining market outcomes. Unlike in Baye and Morgan (2001) where consumers can only learn about the prices charged by different firms by subscribing to an information intermediary’s service, we...

The recent literature on cost allocation lacks consensus on what is an appropriate definition of the consistency axiom. We take this as evidence that a careful reexamination is necessary. The starting point of our critique is the widely adopted definition proposed in Moulin and Shenker (1994),...

Fixed-path methods (FPMs) were introduced to manage situations where several individuals jointly operate a single technology (see [4]). In the production context, they consist in allocating marginal increments of output according to a proportions vector which changes along an arbitrary path....

We propose a new nonparametric estimator for the density function of multivariate bounded data. As frequently observed in practice, the variables may be partially bounded (e.g., nonnegative) or completely bounded (e.g., in the unit interval). In addition, the variables may have a point mass. We...

Cet article évalue dans quelle mesure l’intégration économique européenne renforce ou atténue les différentiels de croissance entre les régions. En se basant sur les nouvelles théories du commerce international (Krugman et Helpman, 1985, Grossman et Helpman, 1990, 1991 et 1995,...

This paper assesses the plausibility of popular models of the monetary transmission mechanism for the G7 countries. For this purpose, flexible structural vector autoregressions are used to relaxe the restrictions behind the traditional identifying schemes of monetary-policy shocks and their...

This paper considers the information systems induced by auditing policies in a principal- agent model with moral hazard. We point out that two such information systems A and B are seldom comparable using the customary mean-preserving spread relation between their respective likelihood ratio...