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Assessing the quantities of legume-based products: A dataset of conversion coefficients into a comparable dry-legume equivalent unit
No full textMeasuring the consumption of processed foods made from a common raw agricultural ingredient requires to make quantities comparable, by converting them in raw product equivalent. This conversion also allows to compute total quantities. In the case of legumes, the challenge is to take into account a wide diversity of final products including packaged dry legumes, processed legumes and products cooked from legumes and other ingredients. While the total quantity of the final product purchased or consumed is easily available, the corresponding quantity of dry legumes used to make the final product is not.
We create a dataset of technical coefficients to convert quantities of final legume-based products into dry-legume equivalent unit. For this purpose, we first list all legume-based products purchased in French retail stores from 2002 to 2019. Those products were identified in our primary data source, the Kantar Worldpanel data. Then, for each final legume-based product, we rely on information from existing food databases, literature and products labels to build a coefficient based on three intermediary technical sub-coefficients. The first sub-coefficient measures the proportion of cooked legumes used in each product. The second sub-coefficient adjusts the quantities for products that lose water during processing (such as dehydrated or baked products). Finally, the third sub-coefficient is a conversion coefficient, used to express the quantities of legumes purchased in dry-legume equivalent.
This dataset centralizes technical conversion coefficients that are useful to analyze global French legume markets, regardless of the type of product purchased (dried legumes, canned legumes, meals...). These coefficients also allow to infer quantities at the upstream agricultural production level
Uncovering asset market participation from household consumption and income
No full textWe propose an asset pricing model featuring time-varying limited participation in both bond and stock markets and household heterogeneity. Households participate in financial markets with a certain probability that depends on their individual income and on asset market conditions. We use indirect inference to uncover individual asset market participation from individual consumption data and asset prices. Our model very accurately reproduces the proportions of stockholders in the Survey of Consumer Finances over three-year intervals, provides a reasonable estimate of stock market participation costs, and is able to price characteristic-based stock portfolios with the top decile of households identified as stockholders
On the ratchet effect with product market competition
No full textWe study a two-period industry where firms are run by agents privately informed about their (persistent) costs, and principals can only use spot contracts. We characterize novel semi-separating equilibria where principals randomize in one or both periods. These equilibria have the following implications for industry dynamics and firms' performance. First, despite some principals learning their agents' type early on, aggregate output need not increase over time: the inefficiencies generated by the adverse selection problem can be persistent over time in competitive environments. Second, a more severe adverse selection problem may result in higher market prices, thereby increasing principals' profits
Les enjeux actuels du droit funéraire. Réflexions à destination du réformateur imaginaire.
No full textActes du colloque organisé à la Faculté de droit de Metz par l’IFG, l’Université de Lorraine, l’Eurométropole de Metz, l’Ordre des avocats de Metz, l’EREGE et la Ville de Met
Vente immobilière et clause de non-garantie : la servitude non apparente n'est (toujours pas) un vice caché
No full textNorms and norm change - driven by social-Kantian preferences
Get PDFNorms indicate which behaviors are common and/or considered morally right. This paper analyzes norms and norm change by modeling individuals with social-Kantian preferences, combining material self-interest, Kantian moral concerns, and attitudes towards making a greater or a smaller material sacrifice than others. In an N-person social dilemma, these preferences determine individuals’ personal moral norms and their thresholds for collective behavior (cooperation is conditional on suÿciently many others cooperating). Conditions on preferences and beliefs pro-moting/hampering changes in the behavioral norm (the modal behavior) are iden-tified. Implications for policy interventions aimed at changing norms are discussed in light of the model
Règlement sur les marchés numériques (DMA) : première décision du TUE à propos de la désignation comme contrôleur d’accès
No full textRenonciation tacite à la revendication de la qualité d’associé : une précision bienvenue (Cass. Com., 12 mars 2025, n° 23-22.373)
No full textRisk measures beyond quantiles
Get PDFThe use of quantiles forms the basis of the overwhelming majority of current risk management procedures. Yet, there exist alternative instruments of risk protection that are not (unlike quantiles) based solely on the frequency of tail observations and instead take their severity into account, while adhering to axiomatic requirements. These alternative risk measures have seen increasing interest in the past decade. The current state of development of risk measures beyond quantiles is discussed with a particular focus on three prominent classes: (i) Expected Shortfall (ES) and extremiles, part of the class of spectral and distortion risk measures, (ii) expectiles, which constitute a particular case of generalized M-quantiles, and (iii) systemic risk measures including Marginal Expected Shortfall (MES). A structured overview of their strengths and weaknesses with respect to axiomatic theory, estimation properties, and ease-of-use by risk practitioners will be given. In addition, challenges arising in the asymptotics and mathematical developments will be discussed and the use of each of the ES, extremile, expectile and MES risk measures will be illustrated with real data applications to storm losses in China, tornado losses in the United States, and financial returns series
