In Keynes’ beauty contest, agents have to choose actions in accordance with an expected fundamental value and with the conventional value expected to be set by the market. In doing so, agents respond to a fundamental and to a coordination motive respectively, the prevalence of either motive...

Since the seminal work of Becker, the dynamics of endogenous fertility has been based on the trade-off faced by parents between the quantity and the quality of their children. However, in developing countries, when child labor is an indispensable source of household income, parents actually...

The paper proposes a model of household behavior with both private and public consumption where the spouses independently maximize their utilities, but taking into account, together with their own individual budget constraints, the collective household budget constraint with public goods...

A comprehensive model of economic household decision is presented which incorporates both fully cooperative and fully non-cooperative variants, parameterized by the income distribution, as well as a semi-cooperative variant, parameterized in addition by a vector B, representing the degrees of...

This work explores and reviews the introduction of real option in the strategic management literature. The aim is to contribute to a better understanding of the origin of the real option. By distinguishing between shadow and real option, and implementing entrepreneurship in the traditional...

This paper analyzes a model of sequential parimutuel betting described as a two-horse race with a finite number of noise bettors and a finite number of strategic and symmetrically informed bettors. For generic objective probabilities that the favorite wins the race, a unique subgame perfect...

Demography-based income forecasting has recently gained enormous popu- larity. Malmberg and Lindh (ML, 2005) in an important contribution forecast global income by incorporating demographic age information where the vari- ables were assumed to be stationary. Drawing on the insights from recent...

We study the relations between compensation schemes and risk aversion of managers in a strategic framework. We first show that the use of relative performance evaluation (RPE) in compensation contracts reduces the equilibrium profits of Cournot firms if managers are not too risk averse. Second,...

Market power of workers on wages is bound to affect economic performances. This paper focuses on this issue and analyse the influence of bargaining structures on growth and labor market functioning. To achieve this, we construct an endogenous growth model where growth appears as the result of a...

The aim of this work is to establish empirically with a structural equation model (SEM) the existence of links between the options perceived by the members of an industry, the expectation of future rents produced by the exercise of these options and firm or industry specific factors. The...