Criticism is mounting on business schools for their excessive focus on research and for neglecting teaching. We show that if students have imperfect information about a school's overall capabilities and if business schools differ in their research productivity, the least productive schools may...

This paper analyzes the decision of a migrant to return or stay within the framework of a signaling model withexogenous migratory costs. If employers have only imperfect information about the type of a worker and goodworkers migrate, bad workers might copy their strategy in order to get the same...

Given the myriad of journal titles in economics and business administration, scholars can sometimes target the wrong journal. This paper provides a dynamic analysis of the market for academic publications that brings into the picture this type of informational friction. The key modelling device...

De plus en plus souvent les éditeurs de revues académiques procèdent à une vérification préalable des articles soumis et rejettent d'office ceux qui ne correspondent pas à la ligne éditoriale de leur revue. Nous étudions ce phénomène nouveau à l'aide d'un modèle d'appariement,...

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 banks'...

This paper analyzes the production of fundamental research as a coordination game played by scholars. In the model, scholars decide to adopt a new idea only if they believe that a critical mass of peers is following a similar research strategy. If researchers observe only a noisy idiosyncratic...

Humans often lie strategically. We study this problem in an ultimatum game with an informed proposer and an uninformed responder, where the former can send an unverifiable statement about his endowment. A simple message game with heterogenous players with respect to lying costs shows that in...

This paper introduces an experiment aiming to investigate the contribution of illiquidity risk to the total risk of a collective investment project. If implemented, the project succeeds with a known probability. Yet the project fails if the quota of investors is not reached in the first place....

Many governments in developing countries contemplate the possibility of increasing the flexibility of their exchange rates despite having accumulated substantial dollar-denominated debt. Using a model of corporate dollar debt in which the future exchange rate is uncertain, this paper studies the...