Including real options in firms ’ value raises numerous difficulties. Limitations concerning the relevance of option pricing models outside financial markets are the most salient, but carrying out a valuation implies other assumptions, especially on firms’ governance. In particular,...

The aim of the paper is to analyze the impact of heterogeneous beliefs in an otherwise standard competitive complete markets discrete time economy. The construction of a consensus belief, as well as a consensus consumer are shown to be valid modulo a predictable aggregation bias, which takes the...

L'objet de cet article est de comprendre les caractéristiques d'une relation d'échange fournisseurs-distributeur. Sur la base d'une étude empirique comprenant 70 entretiens, nous proposons les notions d'échange substantiel lorsque toute la relation n'est focalisée que sur les résultats et...

We provide some existence results of stable pricings for natural monopoly as defined in the theory of contestable markets. The main addings are based on the assumption of separated markets and the possibilities of entries. We borrow tools from cooperative game theory. Following the work of...

Why are expert occupations interesting to study? This book reveals a great deal that is of interest about the current state of three key occupations: lawyers, doctors and management consultants. The conclusions are not always what you might expect. It reveals important differences of fortune...

Aborde la plupart des techniques financières internationales concernant notamment les exportations, les investissements, les projets internationaux en constant renouvellement et les thèmes essentiels de la finance internationale. Comporte des questions de révision, de réflexion et de...