An agent shows loyalty to his manager by bearing personal costs to the superiors benefit. In return, the manager may offer various forms of rewards. If this exchange is not contractible, typically repeated interaction will be required to sustain it. Beyond loyalty, the manager is interested in...

Recent organizational theories suggest that there is a tradeoff between loyalty and competence. This paper tests several such theories in the context of public agencies. Prime ministers, chancellors, and kings alike need to secure the (efficient or inefficient) loyalty of their agencies, such as...

In recent years, tradeable permits (TP) have become widespread in use. One noteworthy point is that the international experience is rather small. Europe has only relatively recently begun to develop such programs. There is a wealth of resources available that comment on the rise of these...

In this article, we describe the various sorts of American Parisian options and propose valuation formulae. Although there is no closed-form valuation for these products in the non perpetual case, we have been able to reformulate their price as a function of the exercise frontier. In the...