We investigate the empirical relation between ambiguity aversion, risk aversion and portfolio choices. We match administrative panel data on portfolio choices with survey data on preferences over ambiguity and risk. We report three main findings. First, conditional on participation, ambiguity...

This paper analyzes the optimal allocation of objects which arrive sequentially to agents organized in a waiting list. Applications include the assignment of social housing, deceased donor organs and daycare slots. A mechanism is a probability distribution over all priority orders which are...

The World Summit on Sustainable Development (Johannesburg, 2002) encouraged the adoption of an ecosystem approach. In this perspective, we propose a theoretical management framework that deals jointly with three issues: i) ecosystem dynamics, ii) conflicting issues of production and preservation...

This article analyzes the impact of aquaculture on wild fish stocks and on fish consumption, taking into account its dependence on reduction fisheries for the feeding of the farmed species and consumet preferences. The model includes the demand side and three sectors : and edible fish fishery...

We provide possibility results on the aggregation of beliefs and tastes for Monotone, Bernoullian and Archimedian preferences of Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (2011). We propose a new axiom, Unambiguous Pareto Dominance, which requires that if the unambiguous...

This article examines the structure of gender and ethnic wage gaps and the distribution of both paid and unpaid work in LAC countries. Its main contribution is to expose the double discrimination endured by women in the région. Indeed, the results indicate that women are highly discriminated in...

In the second half of 2008, after a series of bankruptcies of large financial institutions, the U.S. Treasury poured capital infusions into domestic financial institutions under the Capital Purchase Program (CPP), thus helping to avert a complete collapse of the U.S. banking sector. In this...

Nous proposons une revue de la littérature récente centrée sur les effets de l'ambiguïté (ou incertitude non probabilisée) sur les comportements des acteurs sur les marchés financiers et sur le fonctionnement de ces derniers. Nous exposons les mécanismes théoriques de choix de...

This article adopts Becker's allocation of time framework to describe households' choices concerning both their monetary and time use expenditures in order to propose a new method to derive price elasticity at a micro level. Price and full income elasticities are estimated on a matching of a...

Previous research has proved the existence of a causal relationship between the concentration of jobs in a city and the income of inhabitants. Other researchers have studied the close and nearly causal relationship between those variables and the infrastructure such as highways in different...