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Large dynamic covariance matrices

Second moments of asset returns are important for risk management and portfolio selection. The problem of estimating second moments can be approached from two angles: time series and the cross-section. In time series, the key is to account for conditional heteroskedasticity; a favored model is Dynamic Conditional Correlation (DCC), derived from the ARCH/GARCH family started by Engle…

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English / 01/04/2017

On the convergence of logit-response to (strict) Nash equilibria

We show that the logit-response dynamics converges to a subset of (strict) Nash equilibria for any weakly acyclic, N-player normal form game. The result holds independently of whether revision opportunities arise as in asynchronous learning or in other ways, as long as the dynamics is regular. Our analysis generalizes and organizes recent convergence results in the literature.…

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English / 01/04/2017

Government distortion in independently owned media: evidence from U.S. Cold War news coverage of human rights

This study provides evidence of government distortion of news coverage among independently owned media outlets in a democratic regime. It uses data from 1946 to 2010 and documents that U.S. news coverage of human rights abuses committed by foreign governments was associated with membership on the United Nations Security Council and the degree of political alliance with the United…

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English / 01/04/2017

Altered reward anticipation: Potential explanation for weight gain in schizophrenia?

Obesity and weight gain are severe complications of mental illness, especially schizophrenia. They result from changes in lifestyle and nutrition, side effects of medication and other, less well-understood factors. Recent studies suggest that obesity and weight gain are linked to psychopathology. Specifically, severe psychopathology is associated with greater weight dysregulation,…

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English / 01/04/2017

"Mafia Inc.": when godfathers become entrepreneurs

We study the investment of criminal organizations in the legal economy. We focus on Italy, a country historically plagued by a conspicuous presence of mafia-type organizations. By using the exogenous credit contraction imposed by the 2007 financial crisis we highlight how the consequences for newly established enterprises have been less severe in areas with organized crime. Although…

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English / 01/04/2017

Industrie ist mehr als nur Fabriken

Die Aufmerksamkeit, die vor allem amerikanische Politiker auf den Industriesektor richten, hat Gründe: Wenn Betriebe
dichtmachen, können Regionen sozial zerfallen. Einfache Lösungen gibt es nicht.

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Deutsch / 01/04/2017

The neural circuitry of emotion-induced distortions of trust

Aversive emotions are likely to be a key source of irrational human decision-making but still little is known about the underlying neural circuitry. Here, we show that aversive emotions distort trust decisions and cause significant changes in the associated neural circuitry. They reduce trust and suppress trust-specific activity in left temporoparietal junction (TPJ). In addition,…

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English / 01/04/2017

Understanding peer effects: on the nature, estimation, and channels of peer effects

This paper estimates peer effects in a university context where students are randomly assigned to sections. While students benefit from better peers on average, low-achieving students are harmed by high-achieving peers. Analyzing students’ course evaluations suggests that peer effects are driven by improved group interaction rather than adjustments in teachers’ behavior or students’…

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English / 01/04/2017

Adaptive value normalization in the prefrontal cortex is reduced by memory load

Adaptation facilitates neural representation of a wide range of diverse inputs, including reward values. Adaptive value coding typically relies on contextual information either obtained from the environment or retrieved from and maintained in memory. However, it is unknown whether having to retrieve and maintain context information modulates the brain’s capacity for value adaptation…

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English / 01/04/2017

Sind Workaholics unzufriedener?

Einkommensungleichheiten führen zu einer ungleichen Verteilung der meisten auf dem Markt käuflichen Güter. Es ist allerdings unklar, wie sich das Einkommen auf den Konsum von sozialen Gütern wie Freundetreffen oder Vereinsaktivitäten auswirkt. Marktgüter und Sozialgüter unterscheiden sich konzeptuell, indem der Konsum Ersterer vor allem Geld, der Konsum Letzterer hingegen vor allem…

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Deutsch / 01/04/2017

Competition in agricultural markets: an experimental approach

This paper develops an experimental approach to measure competition among intermediaries in agricultural markets, based on the random allocation of subsidies to traders. We show that, in individual-level randomizations with competitive spillovers, treatment-control differences in prices can inform an intuitive test of the degree of differentiation among firms. In the context of the…

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English / 01/04/2017

Valoriser la fonction RH

Institution partenaire

Haute Ecole de Gestion de Genève

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Français / 30/03/2017

Construction d’une marque forte dans l’industrie horlogère suisse de luxe

Le but de cet article est d’explorer et de ressembler les éléments essentiels de la construction d’une marque forte dans le luxe. Cette étude se base sur les interviews semi-directives auprès des experts de l’industrie horlogère suisse de luxe. Contribution de cet article dans la discussion académique est dans l’approche «industriel» du développement du cadre conceptuel. Le résultat…

Institution partenaire

Haute Ecole de Gestion de Genève

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Français / 24/03/2017

La visite d'entreprise rend-elle l'entreprise hospitalière: : expérience d'accueil et dimension culturelle au-travers de visites d'entreprises suisses et françaises

L'objectif de cet article est de caractériser la visite d'entreprise comme une situation d'hospitalité et de comprendre en quoi elle peut représenter un facteur de différenciation et ainsi répondre à des préoccupations managériales de transmission de savoir-faire et de relation avec les visiteurs. Ce travail, de nature exploratoire, répond à deux buts : il est tout d…

Institution partenaire

Haute Ecole de Gestion de Genève

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Français / 24/03/2017

Sind wir so reich, weil die andern so arm sind?

Wir haben nur so viel, weil die anderen so wenig haben. Wären wir grosszügiger, ginge es allen besser. So denken die meisten. Sie irren sich.

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Deutsch / 23/03/2017

Was die Universität Berkeley lehrt: Europa verdammt die öffentlichen Universitäten zumeist in die Regionalliga

Die vom US-Bundesstaat Kalifornien betriebene Spitzenschule macht vor, wie sich akademische Exzellenz mit vergleichsweise geringen Mitteln erreichen lässt – doch es gibt Grenzen der Effizienz.

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Deutsch / 18/03/2017

Perception des risques ; déterminants de la perception des risques, effet sur le comportement pro-social et la satisfaction au travail: : une analyse empirique au sein d’un corps de police de suisse romande

Le métier de policier est reconnu pour être un métier difficile, ou le collaborateur qui l’exerce peut être exposé à toute une série de risques divers dans l’exercice de sa profession (Monjardet 1996). L’exposition à ces risques peut générer un stress qui aura un impact sur la satisfaction au travail, la motivation, le comportement des collaborateurs, et, in fine, la performance de…

Institution partenaire

Haute Ecole de Gestion de Genève

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Français / 02/03/2017

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