infonet-economy

Purpose: This paper demonstrates that additive manufacturing (AM), as a technological driver, has the potential to change the structural composition of entire supply chains. The research comprises a first, systematic analysis about the impact of AM on the network structures in engineer-to-order supply chains.

Research Approach: The paper pursues an inductive research...

Afin de concilier leur double objectif de rentabilité financière et de performance sociale, les institutions de microfinance ont développé les prêts de groupe, avec caution solidaire. Cette innovation financière vise à remédier aux problèmes d’informations asymétriques auxquels toute activité de crédit est confrontée. L’objet de cet article est d’identifier les facteurs susceptibles...

Using the theory of planned behaviour (TPB), we examined the impact of age on entrepreneurial intention, with special focus on seniors. Using samples from France reflecting a broad age range, a negative relationship involving age and entrepreneurial intent was found. Consistent with TPB, attitude, social norms, and perceived behavioural control were all significantly associated with...

Financial institutions form multilayer networks by engaging in contracts with each other and by holding exposures to common assets. As a result, the default probability of one institution depends on the default probability of all of the other institutions in the network. Here, we show how small errors on the knowledge of the network of contracts can lead to large errors in the...

This study investigates the relationship between governance, investment performance and asset allocation of pension funds in Switzerland. Our sample includes survey data from 139 Swiss occupational pension plans for which we develop a governance metric comprising attributes of organisational design, management incentives, target setting, investment strategy, investment processes,...

This paper explores the expressive ability of the external habit mechanism. I show that whenever the stochastic discount factor (SDF) is a function of aggregate consumption, there exists a representative agent external habit model that replicates that SDF. I also show that within this framework the other utility function parameters become indeterminate, in that a different choice of...

We study the bilateral trade problem put forward by Myerson and Satterthwaite (1983) under the assumption that agents are loss-averse, using the model developed by Kőszegi and Rabin (2006, 2007). We show that the endowment effect increases the sellers information rent, and that the attachment effect reduces the buyer’s information rent. Further, depending on the distribution of types...