Land valuation using a real option approach.
Large games with only small players and finite strategy sets
Large games of kind considered in the present paper (LSF-games) directly generalize the usual concept of n-matrix games; the notion is related to games with a continuum of players and anonymous games with finitely many types of players, finitely many available actions and distribution dependent payoffs; however, there is no need to introduce a distribution on the set of types. Relevant features of equilibrium distributions are studied by means of fixed point, nonlinear complementarity and constrained...
Large games with only small players and strategy sets in Euclidean spaces
The games of type considered in the present paper (LSE-games) extend the concept of LSF-games studied by Wieczorek in [2004], both types of games being related to games with a continuum of players. LSE-games can be seen as anonymous games with finitely many types of players, their action sets included in Euclidean spaces and payoffs depending on a player's own action and finitely many integral characteristics of distributions of the players' (of all types) actions. We prove the existence of equilibria...
Large investor trading impacts on volatility
L'assurance-invalidité en Allemagne
Le dernier mot de Condorcet sur les élections
Nous reconstituons ici le dernier mémoire (inédit) de Condorcet sur les élections ; ce texte était éparpillé en désordre dans plusieurs volumes différents des recueils de manuscrits de la Bibliothèque de l'Institut. Seul le début du mémoire a été publié, dans le Journal d'Instruction Sociale en 1793. En comparant les différentes formes d'élections proposées par Condorcet à partir de l'Essai sur l'application de l'analyse (1785) jusqu'à la Terreur, nous pouvons suivre l'évolution de ses idées et...
Le problème de l'agrégation des préférences : une classe de procédures à seuil
Après avoir rappelé les conditions et le théorème d'Arrow, l'article présente une classe de procédures d'agrégation à seuil, dont les cas particuliers sont la règle de l'unanimité et la procédure majoritaire de Condorcet. La première apparaît comme une procédure très prudente mais pauvre, la seconde comme une procédure plus riche mais risquée. Choisir un seuil est alors choisir une procédure intermédiaire entre ces deux procédures extrêmes. L'article discute alors de conditions dans lesquelles peuvent...
Le risque moyen d'une assurance générale
Le vote par consensus
Les Conférences du prof. René Risser à Prague
Les cotisations dans l'assurance-pension des mineurs
Les graphes de transfert et la notion de graphe inverse
Les questions actuarielles des assurances sociales, publiques et privées visant à procurer la protection de la famille. I.
Les questions actuarielles des assurances sociales, publiques et privées visant à procurer la protection de la famille. II.
Les sorties des assurances sociales
Lexicographic combinations of preference relations in the context of Possibilistic Decision Theory.
In Possibilistic Decision Theory (PDT), decisions are ranked by a pressimistic or by an optimistic qualitative criteria. The preference relations induced by these criteria have been axiomatized by corresponding sets of rationality postulates, both à la von Neumann and Morgenstern and à la Savage. In this paper we first address a particular issue regarding the axiomatic systems of PDT à la von Neumann and Morgenstern. Namely, we show how to adapt the axiomatic systems for the pessimistic and optimistic...
Limit policies in N-sector dynamic growth games with externalities.
Limiting distribution for a simple model of order book dynamics
A continuous-time model for the limit order book dynamics is considered. The set of outstanding limit orders is modeled as a pair of random counting measures and the limiting distribution of this pair of measure-valued processes is obtained under suitable conditions on the model parameters. The limiting behavior of the bid-ask spread and the midpoint of the bid-ask interval are also characterized.
Limits of Bayesian decision related quantities of binomial asset price models
We study Bayesian decision making based on observations () of the discrete-time price dynamics of a financial asset, when the hypothesis a special -period binomial model and the alternative is a different -period binomial model. As the observation gaps tend to zero (i. e. ), we obtain the limits of the corresponding Bayes risk as well as of the related Hellinger integrals and power divergences. Furthermore, we also give an example for the “non-commutativity” between Bayesian statistical and...
L'importance des réseaux en économie