[eng] General equilibrium with incomplete markets has been the object of interest in the last ten years. This paper assesses the latest develoments of that theory, through an exposi­tion of the main results in a pure exchange framework. [fre] La théorie de l'équilibre général avec marchés...

We argue, in the spirit of some of Jean-Yves Jaffray's work, that explicitly incorporating the information, however imprecise, available to the decision marker is relevant, feasible and fruitful. In particular, we show that it can lead us to know whether the decision maker has wrong beliefs and...

We review recent advances in the field of decision making under uncertainty or ambiguity.

This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of rigid, non discretionary contracts. The main focus of the paper lies in the analysis of the costs of delegation, primarily agency costs, versus their benefits, primarily the...

[eng] Credit Rationing, Interest Rates and Economic Activity Jean-Marc Talion This paper presents a model of banking behaviour to show why, in some cases, banks prefer to ration credit to their customers, rather than to increase the interest rate they charge. This rationing, which is due to the...

We show that when decision makers are of the multiple prior kind, there is an equivalence between no betting and non empty intersection of the sets of priors.