This paper examines the occurrence of upward distorsions on working-hours caused by the existence of multiplicative effects in the production process. Multiplicative effects are mainly associated with managerial positions but, more generally, with jobs involving multiple tasks or affecting the...

This paper presents an experimental investigation of risk taking in the domain of losses. The experiments are conducted with students in several universities during introduction rudiments to expected utility theory and risk behaviour. The results are partly compatible with expected utility...

The aims of this study are (i) to identify the main determinants of the demand for French Premiere Division football matches using all matches played during the 1997/1998 season, (ii) to estimate a team-specific probability of success, and (iii) to propose an updating process for the intra-match...

In the present paper, we analyse the role of demand factors on wages and hours in Switzerland. To accomplish this task, we used the 1996 Swiss Wage Structure Survey, a large employee-employer survey. As in many other developed economies, inter-industry wage differentials are great, whether or...

In this paper we analyse the labour supply in a static framework, examining the two basic components of labour services, effort and working time. We discuss how the method chosen by firms to extract effort from the workers affects the relationship between the hourly wage offered and the number...

Pour que l'information tiree de la demande de monnaie soit fiable, il faut que cette relation soit stable dans le temps. Nous etudions la stabilite des demandes de monnaie pour M1, M2 et M3. Deux hypotheses principales sont testees. La premiere considere que l'omission du taux de change de la...

During the 80's, Microelectronical Systems (MEMS) have emerged as a new technological paradigm in the United States. From early one, some of Japanese private companies, who had already been engaged in a fierce technology race to develop semiconductors, decided to engage their R&D efforts in this...

In this paper, we develop alternative models to price derivative securities when the underlying asset may be subject to jumps. These models allow for two kinds of jumps: scheduled jumps which are caused by information for which the disclosure data is known in advance (e.g. earnings...

This paper investigates theoretically and empirically the dynamic of the implied volatility (ISD) around earnings announcements dates. The volatility implied in option prices can be interpreted as the market expected level of volatility over the remaining life of the option. In this framework...

This article examines, under the Dual Theory of Choice (Yaari (1987)), the classical results and their extensions on self-insurance, self-protection and market insurance obtained by Ehrlich and Becker (1972) under the expected utility hypothesis. In particular, background risk, non-reliability,...