infonet-economy

In ant algorithms, each individual ant makes decisions according to the greedy force (short term profit) and the trail system based on the history of the search (information provided by other ants). Usually, each ant is a constructive process, which starts from scratch and builds step by step a complete solution of the considered problem. In contrast, in Ant Local Search (ALS), each…

Les transformations de l'Etat providence en Etat animateur ont conduit la puissance publique à limiter ses capacités d'action dans le domaine de la gestion sociale de la ville par l'urbanisme. Les ambitions éthiques au coeur de la constitution des théories et savoirs de l'aménagement des villes au début du XXe siècle ont cédé la place à un "oubli"…

Le débat sur les migrations et les migrants se développe dans le brouhaha de l'espace politique, des médias et sollicite également l'attention des universitaires. Des thèses contradictoires sont élaborées mais ce qu'on peut lire et entendre au sujet des migrations relève très souvent des élaborations militantes ayant peu de recul avec les prises de position politiques…

We investigate the effects of margining, a widely-used mechanism for attaching collateral to derivatives contracts, on derivatives trading volume, default risk, and on the welfare in the banking sector. First, we develop a stylized banking sector equilibrium model to develop some basic intuition of the effects of margining. We find that a margin requirement can be privately and…

We conduct an experiment assessing the extent to which people trade off the economic costs of truthfulness against the intrinsic costs of lying. The results allow us to reject a type-based model. People's preferences for truthfulness do not identify them as only either "economic types" (who care only about consequences) or "ethical types" (who care only about…

This article analyzes the effect of liquidity risk on the performance of equity hedge fund portfolios. Similarly to Avramov, Kosowski, Naik, and Teo (2007),(2011), we observe that, before accounting for the effect of liquidity risk, hedge fund portfolios that incor- porate predictability in managerial skills generate superior performance. This outperfor-mance disappears or weakens…