This paper analyzes the capacity of mobile-payment solutions to improve financial inclusion in developing countries. It elaborates from rural East African countries experiences where mobile payment services have developed rapidly. With a simple dynamic model which rationalizes traders' adoption...

This paper aims at studying the flash crash caused by an operational shock with different market participants. We reproduce this shock in artificial market framework to study market quality in different scenarios, with or without strategic traders. We show that traders’ srategies influence the...

We investigate the effects of the establishment of the euro on the markups of French manufacturing firms. Merging firm-level census data with customs data, we estimate time-varying firm-specific markups and distinguish between eurozone exporters from other firms between 1995 and 2007. We find...

In The Trade Cycle, Roy Harrod [1936a] propounded the Law of Diminishing Elasticity of Demand. The present paper tries to clarify the precise role Harrod assigned to this law in order to understand his trade cycle theory. We discuss the micro and macro foundations of the Law of Diminishing...

This paper investigates the relationship between corporate governance (CG) and innovation according to firms’ age by combining insights from the recent strand of contributions analysing CG and innovation with the lifecycle literature. We find a negative relationship between CG and innovation...

The study uses commune fixed-effect regressions to estimate the effect of natural disasters on welfare and poverty of rural households in Vietnam, and subsequently examines household and community characteristics that can strengthen resilience of households to natural disasters. We find that all...

Lately, so-called 'quantum models' based on parts of the mathematics of quantum mechanics, have been developed in decision theory and cognitive sciences to account for seemingly irrational or paradoxical human judgments. In this paper, we limit ourselves to such quantum-like models that address...

This paper analyses the effects of the Internet on the organizations and the markets in the tourism industry. It enlightens its deepening impact on incumbent organizations and markets from Web 1.0 to Web 2.0 though the analysis of the dynamics of the long tail, i.e. of the distribution of...

The motivation of this discussion is threefold: to integrate transaction costs (TCs) into a standard model of the firm; to examine the interaction between organisational factors (i.e. TCs) and standard demand-cost factors; and to analyse key propositions of transaction cost economics with the...

Les études qui se sont intéressées aux performances du secteur du capital-investissement européen montrent toutes que ces dernières sont nettement inférieures à celles enregistrées par leurs homologues anglo-saxons. On a recherché pendant longtemps à identifier les déterminants de...