255 research outputs found
sj-docx-1-pss-10.1177_09567976231202450 – Supplemental material for The Gender-Equality Paradox in Chess Holds Among Young Players: A Commentary on the Vishkin (2022) Study
No full textSupplemental material, sj-docx-1-pss-10.1177_09567976231202450 for The Gender-Equality Paradox in Chess Holds Among Young Players: A Commentary on the Vishkin (2022) Study by Clotilde Napp and Thomas Breda in Psychological Science</p
Properties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatience
No full textThis paper derives the properties of the discount rate that should be applied to a public-sector project when the affected population has heterogeneous degrees of impatience. We show that, for any distribution of discount rates, the social discount rate has the following properties: it decreases over time, it is lower than the average of the discount rates in the population, and it converges to the discount rate of the most patient individual in the economy. These properties hold for both constant and decreasing individual discount rates. Finally, we evaluate how changes in the distribution of individual discount rates affect the social discount rate.social discount rate; hyperbolic discounting; cost-benefit analysis
Optimal Risk Sharing for Law Invariant Monetary Utility Functions
No full textWe consider the problem of optimal risk sharing of some given total risk between two economic agents characterized by law-invariant monetary utility functions or equivalently, law-invariant risk measures. We first prove existence of an optimal risk sharing allocation which is in addition increasing in terms of the total risk. We next provide an explicit characterization in the case where both agents' utility functions are comonotone. The general form of the optimal contracts turns out to be given by a sum of options (stop-loss contracts, in the language of insurance) on the total risk. In order to show the robustness of this type of contracts to more general utility functions, we introduce a new notion of strict risk aversion conditionally on lower tail events, which is typically satisfied by the semi-deviation and the entropic risk measures. Then, in the context of an AV@R-agent facing an agent with strict monotone preferences and exhibiting strict risk aversion conditional on lower tail events, we prove that optimal contracts again are European options on the total risk.Monetary utility functions, comonotonicity, Pareto optimal allocations
"Par un ennemi qu'on sait digne de soi": la lunga traccia delle coppie antinomiche
No full textThe contribution deals with antinomic couples, actual rivalries, symbolic confrontations; it is part of a discussion among scholars about the subject, in a column edited by the author and Niccolò Scaffa
Nodier et les « romances pseudographes de Clotilde »
No full textPublished in 1803, and republished several times afterwards, the
“Poésies de Clotilde de Surville”(Poems of Clotilde de Surville) knew a real success in bookshops even though the author, an aristocrat of the 15th century, had very soon been suspected of non-existence. Well aware of the hoax, Nodier nevertheless esteemed that “Clotilde’s pseudographic romances are sublime”
and even “above all critics”. Thus his successive position takings are worth to be observed though their basic ambiguity as they display an unfailing clearsightedness as well as a certain taste for pastiche. It is besides the reason why Sainte-Beuve took pleasure in attributing the entire responsibility of the second book of Poésies inédites de Clotilde (1826) (New poems of Clotilde) to Nodier who, in fact was merely the astute co-editor. If the reception of these apocryphal books allows, as time goes by, to oppose the implacable demystifiers (such as Quérard or Gaston Paris) and the dupes, who stubbornly want to prove the authenticity of a forgery yet manifest, it also lets us catch a
glimpse of Nodier’s elegant serenity and his singular posture: that of a discreet accomplice and an advised reader, who knew, as well, how to salute in his own way the genius of Ossian or of Bonaventure des Périers.Publiées en 1803, et plusieurs fois rééditées par la suite, les Poésies de Clotilde de Surville connurent un franc succès de librairie quoique leur auteur, une aristocrate du XVe siècle, eût très vite été soupçonné d’inexistence. Bien au fait de la supercherie, Nodier n’en a pas moins estimé que « les romances
pseudographes de Clotilde sont sublimes » et même « au-dessus de toutes les critiques ». Ainsi ses prises de position successives valent-elles d’être observées à travers leur ambiguïté foncière, car elles témoignent d’une indéfectible clairvoyance en même temps que d’un goût certain pour le pastiche. C’est d’ailleurs pour cette raison que Sainte-Beuve se plut à attribuer l’entière responsabilité du second recueil de Poésies inédites de Clotilde (1826) à un Nodier qui, au juste, n’en fut que l’astucieux co-éditeur. Si la réception de ces apocryphes permet, au fil du temps, d’opposer les démystificateurs implacables (tels Quérard ou Gaston Paris) et les dupes, qui s’obstinent à prouver l’authenticité d’une contrefaçon pourtant manifeste, elle laisse également entrevoir l’élégante sérénité de Nodier, et sa posture singulière : celle d’un complice discret et d’un lecteur avisé, qui sut pareillement saluer à sa façon le génie d’Ossian ou de Bonaventure des Périers
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Friends, Family gather at Dr. Clotilde Garcia's home honoring Raul Morin (photograph)
No full textFriends, Family gather at Dr. Clotilde Garcia's home honoring Raul Morin. Author of the book “Among the Valient.
Gender stereotypes embedded in natural language are stronger in more economically developed and individualistic countries
No full textGender stereotypes embedded in natural language are stronger in more economically developed and individualistic countries
No full text
Pricing Issues with Investment Flows: Applications to market models with frictions
No full textInternational audienceIn this paper, we study some foundational issues in the theory of asset pricing. We consider a model where any investment opportunity is described in terms of cash flows. We do not assume that there is a numéraire, the time horizon is not supposed to be finite, the investment opportunities are not specifically related to the buying and selling of securities on a financial market. In this quite general framework, we consider different possible definitions of admissible prices for a contingent flow, mainly related to arbitrage and equilibrium considerations, and for each possible definition, we characterize the set of admissible prices.Since most market imperfections, such as short sale constraints, convex cone constraints, proportional transaction costs, no borrowing or different borrowing and lending rates, etc., can fit in the preceding model for a specific set of investment opportunities, our approach with flows provides a unified framework for the study of pricing issues in market models with frictions (including imperfections on the numéraire). We generalize existing results and we obtain them all in a unified way
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