This article describes the early development of the Human Relations School at the Harvard Business School under the leadership of Elton Mayo and Wallace Donham. It shows how both achieved early success by positioning themselves as solutions to pressing social, economic, and political issues of...

We consider a multivariate financial market with transaction costs as in Kabanov. We study the problem of finding the minimal initial capital needed to hedge, without risk, European-type contingent claims. We prove that the value of this stochastic control problem is given by the cost of the...

This article analyses the respective impact of aid, remittances and medical brain drain (MBD) on child mortality using panel and cross-country quintile-level data on respectively 84 and 46 developing countries. Our results show that remittances reduce child mortality while MBD increases it....

The role of the United States in international negotiations, including Kyoto, has always been central as an economic and a political power and also as a polluter. In the absence so far of federal regulation, different states were very dynamic. Since the election of President Obama, energy and...

In this paper we consider a class of BSDEs with drivers of quadratic growth, on a stochastic basis generated by continuous local martingales. We first derive the Markov property of a forward-backward system (FBSDE) if the generating martingale is a strong Markov process. Then we establish the...

cet article examine le rôle des différents acteurs qui interviennent dans la formation du cours de bourse et les mécanismes institutionnels qui concourent à la formation des jugements.

This paper examines the evolution of wealth distribution in France during the urbanization process of the nineteenth century, based on a comprehensive dataset of individual inheritances. It presents a spatial decomposition between rural and urban areas, distinguishing Paris from the rest of...