2,424 research outputs found
Endogenized Production Sets in a General Equilibrium Model with Incomplete Markets
Get PDFThe paper develops a general equilibrium model with incomplete markets where the asset structure is endogenized. This asset structure allows to consider a new class of objective functions of profit maximizing firms. This class of objective functions is independent of the utilities of the stock holders. Corporate equilibrium properties are studied for this model. It is shown that the organization of production is generally efficient. This result is a consequence of the generalization of the separation theorem of the Arrow-Debreu model to incomplete markets. Finally, the paper shows that corporate equilibria are not independent of the firms financial activities.
Corporate Equilibrium Properties of a Centralized Objective Function GEI Model
Get PDFWe introduce an incomplete markets general equilibrium model with idiosyncratic risk, where production is financed via stock market, and where the ownership structure endogenized. This model is a variation of Drèze (1974), Grossman and Hart (1979), and Magill and Quinzii (2002). The paper discusses two main corporate equilibrium properties. It shows that (i) the class of centralized objective functions introduces a further source of inefficiency into the organization of production, and (ii) the indeterminacy of corporate equilibria. (iii) It further shows the separation of the economic decisions of the agents.
Samuel Beckett and the Writers of Port-Royal
Get PDFIt has been observed that ‘the literary influences on Beckett have been far more important than has been acknowledged, and more important indeed, than the philosophical influences’ (Smith 2002: 3). The truth of this statement is evidenced by the description that scholars have given of Samuel Beckett’s relationship to seventeenth century French classicism. To date, critical interest has been limited for the most part to the figure of the philosopher René Descartes on the (fragile) grounds that Beckett was exclusively concerned with the Cartesian imperative of clarity and order, the fundamental dualism between body and mind, and Nominalism.
Together with the assumption that Beckett’s vision was essentially Cartesian, his literary filiation with Pascal was suggested by critics, but only in terms of Beckett’s formal approach to the theatre. In his short article on En attendant Godot in 1953, the playwright Jean Anouilh was among the first reviewers to suggest that Beckett’s drama synthesizes the encounter between ‘classicism’ and a ‘modern’ form of art. It is well known that Beckett retained a lifelong admiration for Pascal – indeed, Pascal was one of his ‘old chestnuts’ (Knowlson 1997: 653). Little attention has been paid, however, to the originality of Pascal’s thought, the specific nature of his prose, and the impact these might have had upon Beckett’s mature work, especially the trilogy and the subsequent short prose. Yet, in the literary and philosophical context of post-war France, Beckett’s filiation with Pascal, their corresponding preoccupations, were evident to his contemporaries, who identified Pascal as an underlying presence in his works
Switching Regimes in Economics:The Contraction Mapping and the ω-Limit Set
Get PDFThis paper considers a dynamical system defined by a set of ordinary auto- nomous differential equations with discontinuous right-hand side. Such sys- tems typically appear in economic modelling where there are two or more re- gimes with a switching between them. Switching between regimes may be a consequence of market forces or deliberately forced in form of policy imple- mentation. Stiefenhofer and Giesl [1] introduce such a model. The purpose of this paper is to show that a metric function defined between two adjacent tra- jectories contracts in forward time leading to exponentially asymptotically stability of (non)smooth periodic orbits. Hence, we define a local contraction function and distribute it over the smooth and nonsmooth parts of the peri- odic orbits. The paper shows exponentially asymptotical stability of a periodic orbit using a contraction property of the distance function between two adja- cent nonsmooth trajectories over the entire periodic orbit. Moreover it is shown that the ω-limit set of the (non)smooth periodic orbit for two adjacent initial conditions is the same
Sabil and Wikala of Dhul Fiqar Oda Bashi
No full textinterior, courtyard, "Vue de l'Okel Zoulfiqar," color plate XLIV of Pascal Coste's "Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826", 1818-182
First person - Aude Pascal
No full textInternational audienceFirst Person is a series of interviews with the first authors of a selection of papers published in Journal of Cell Science, helping early-career researchers promote themselves alongside their papers. Aude Pascal is first author on `Annexin A2 and Ahnak control cortical NuMA-dynein localization and mitotic spindle orientation', published in JCS. Aude is a research assistant in the lab of Re ' gis Giet at University of Rennes, France, who is particularly interested in developmental biology. She has always been struck by the fact that a whole organism displaying multiple functions arises from a single cell. For this reason, she has oriented her research on mitosis and meiosis to study the different steps, components and structures involved in these processes
Pascal Tutorial, 1987
Get PDFThere exists a limited number of tutorials for the Pascal programming language using the Apple Computer. The demand for these tutorials exceeds the supply. In this thesis an attempt was made to rectify this shortage by designing a Pascal tutorial for the Apple computer. This Pascal tutorial is designed to assist with instructing an introductory computer programming course in Pascal, incorporating Apple Superpilot as the authoring language. Emphasis is placed on making the program "user friendly." A person with no previous programming experience should be able to easily execute this tutorial. The information presented as the subject matter of the tutorial will follow the guidelines recommended by the Association for Computing Machinery
Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826
No full textgeneral view, "Vue des Tombeaux au Nord-Est de la Ville," color plate LXIII of Pascal Coste's "Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826", 1818-182
Gamia el-Muaiyad
No full textinterior, qibla wall, "Vue de la Niche du Sanctuaire et de la Chaire de la Mosquee el Moyed"," color plate XXVIII of Pascal Coste's "Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826", 1818-182
Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826
No full textsection, section of the prayer hall, and details of inscription and chandelier, Plate XXIII of Pascal Coste's "Architecture arabe; ou, Monuments du Kaire, mesurés et dessinés, de 1818 à 1826
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