We present a generalized notion of extreme multivariate dependence between two random vectors which relies on the extremality of the cross-covariance matrix between these two vectors. Using a partial ordering on the cross-covariance matrices, we also generalize the notion of positive upper...

We propose a multivariate extension of Yaari's dual theory of choice under risk. We show that a decision maker with a preference relation on multidimensional prospects that preserves first order stochastic dominance and satisfies comonotonic independence behaves as if evaluating prospects with a...

We provide a test for the specification of a structural model without identifying assumptions. From the dual formulation of a null hypothesis of compatibility of the data generating process with the structure, we derive a Kolmogorov-Smirnov statistic for Choquet capacity functionals, which we...

A general framework is given to analyze the falsifiability of economic models based on a sample of their observable components. It is shown that, when the restrictions implied by the economic model are insufficient to identify the unknown quantities of the model, the duality of optimal...

Most of the literature on two-sided matching markets without transfers focuses on the case where a central planner (often an algorithm) clears the market, like in the case of school assignments, or medical residents. In contrast, we focus on decentralized matching markets without transfers,...

We provide a geometric formulation of the problem of identification of the matching surplus function and we show how the estimation problem can be solved by the introduction of a generalized entropy function over the set of matchings

Various forms of efficiency exist in the context of two-sided matching. Following Hylland and Zeckhauser (1979), an assignment is called ex-post efficient if no other deterministic assignment is improving on it; and ex-ante efficient if no lottery over deterministic assignments is. In the...

We consider the problem of superhedging under volatility uncertainty for an investor allowed to dynamically trade the underlying asset, and statically trade European call options for all possible strikes with some given maturity. This problem is classically approached by means of the Skorohod...

We propose a method to estimate differentiated costs of equity for electricity generation technologies. We provide evidence that there is a substantial difference in their cost of equity. This method is based on a regression between available information on electric utilities equity return and...

We propose a new class of hedonic models with sticky prices and queues. Time replaces money as the invisible hand in the market. Unlike money, time is non-transferable to the trading partner. We prove the existence and uniqueness of the equilibrium, and we compare our model with the standard...