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    30394 research outputs found

    Le contrôle économique et financier de l'État sur les grands événements sportifs internationaux

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    Le contrôle de l’État est exercé par divers services de Bercy mais aussi locaux sur la soutenabilité économique et financière des événements sportifs, dans une optique, relative, de minimisation du coût. Sa forme, comme ses résultats, sont assez disparates

    Bubbles and Crashes with Partially Sophisticated Investors

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    We analyze bubbles and crashes in a model in which some investors are partially sophisticated. While the expectations of such investors are endogenously determined in equilibrium, these are based on a coarse understanding of the market dynamics. We highlight how such investors may endogenously switch from euphoria to panic and how this may lead to equilibrium bubbles and crashes even in a purely speculative market in which information is complete and it is commonly understood that the bubble cannot grow forever. We also show how this setting can match stylized empirical facts, and we investigate whether bubbles may last longer when the share of fully rational traders increases

    The evolution of spatial patterns of brain activity during development and their role in the functional specialization of brain networks

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    The development of functionally specialized brain networks allows the emergence and improvement of cognitive abilities. This specialization emerges in part from the interactions between brain regions through changes in the temporal organization of their brain activity. In addition, it is now well assumed that the functioning of mature brain networks also depends on the spatial organization of their brain activity. However, how this spatial organization is formed during development remains unknown, nor do we know whether it contributes to the functional specialization of brain networks. This study attempts to answer these questions by examining the developmental changes in the spatial patterns of brain activity of the functional brain network involved in the theory of mind (capacity to understand others’ mental states). Using fMRI dataset from the cross-sectional study of Richardson et al. (2018), our findings show for the first time that the brain regions of this network show increasingly similar spatial patterns of activity. Furthermore, this increasing spatial similarity is associated with improved children’s performance in a theory-of-mind task. We propose that the increasing similarity between spatial brain activity patterns during development has important implications for understanding the functional specialization of brain networks

    Le contrat ne canalise pas l’action en contrefaçon

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    Dans le cas d’une atteinte portée à des droits voisins, le titulaire, ne bénéficiant pas des garanties prévues aux articles 7 et 13 de la directive 2004/48 s’il agit sur le fondement de la responsabilité contractuelle, est recevable à agir en contrefaçon

    Qu'est-ce qu'une loi au sens du droit de l'Union européenne?

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    A class of singular control problems with tipping points

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    Tipping points define situations where a system experiences sudden and irreversible changes and are generally associated with a random level of the system below which the changes materialize. In this paper, we study a singular stochastic control problem in which the performance criterion depends on the hitting time of a random level that is not a stopping time for the reference filtration. We establish a connection between the value of the problem and the value of a singular control problem involving a diffusion and its running minimum. We prove a verification theorem and apply our results to explicitly solve a resource extraction problem where the random evolution of the resource changes when it crosses a tipping point

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