This paper investigates the problem of hedging European call options using Leland's strategy in stochastic volatility markets with transaction costs. Introducing a new form for the enlarged volatility in Leland's algorithm, we establish a limit theorem and determine a convergence rate for the...

Les raisons mêmes de la formation professionnelle continue (fpc) et ses formes de valorisation salariale sont largement dépendantes de la manière dont sont construits les rapports entre formation initiale et marché du travail. C'est un des intérêts d'une comparaison entre la France et...

While numerous studies have provided selectivity-corrected estimates of the wage returns to training both in the US and in European countries, less is known about the impact of training on mobility on the labour market. In this paper, we estimate the impact of firmprovided training on both the...

Évolutions des contextes professionnels, vieillissement de la main d'œuvre, multiplication des " scandales sanitaires professionnels " : la question de la santé au travail est progressivement revenue sur le devant de la scène, notamment dans sa dimension mentale. La lutte contre les "...

L'espace de vente est une ressource rare dans la grande distribution généraliste. Nous étudions ici le problème de son allocation entre les différents fournisseurs présents dans l'assortiment. La méthode adoptée est celle de la théorie des jeux ; celle-ci permet de prendre en...

We build a model that takes into consideration the evolution of health over the life cycle and its consequences on individual optimal choices. In this framework, the effect of environmental taxation are not limited to the traditional negative crowding-out and positive productivity effects. We...

Conventional normative economics is built on the assumption that people act as if seeking to satisfy coherent and a priori preferences. This model has however been challenged by many empirical works highlighting the existence of systematic deviations from the behaviour predicted by the...

The prospects for an international agreement within the United Nations Framework on Climate Change (UNFCCC) resulting in a common carbon price ‐ such as a global cap and trade scheme ‐ can for now only be seen as a long term goal. In the meantime, we have to work in a world of unilateral...

This paper deals with the impact of social contributions and tax cuts (which are considered as operating subsidies) on new firms' probability of survival and economic performance. We use a rich matched database of French firms that were newly created in 1998 and that include entrepreneurs'...

This paper aims at studying the modification of French and British labour market segmentation from years 1980's to 2000's. Based on a multiple correspondence analysis using national labour force surveys in 1982-83 and 2001, we bring to light the evolution from a ternary structure of these...