We first derive a one state variable partial differential equation, easy to implement, which caracterizes the price of a European type Asian option (that is the exercice only takes place at the exercice date). This result is explained and related to previous literature. We then derive new...

This article suggests that the global inefficiency which generally affects a production process is endogenous and depends on the incentives generated by the process environment. We propose to treat the usual correlation between the inefficiency and the regressors of the production frontier...

The paper reviews some recent theoretical contributions on the modelisation of time-inconsistent preferences, as well as implications for individual behavior. The focus is on the interpretation of the concepts and the link with concepts in psychology.

We study in this paper how the technological flexibility choices and equilibrium configurations depend first on the industry characteristics (demand function and cost parameters specific to the multiproduct flexible technology and to the product dedicated technologies) and, second, on the...