Agenda du séminaire TOM (Théorie, Organisation et Marchés) Lunch Seminar
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 16/05/2024 de 12:30:00 à 13:30:00
BLUMENTHAL Benjamin (ETH Zurich) *
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 23/05/2024 de 12:30:00 à 13:45:00
R1-09
We study the war of attrition with symmetric information when players’ payoffs depend on a homogeneous linear diffusion. We first show that a player’s mixed Markov strategy can be represented by an intensity measure over the state space along with a subset of the state space over which the player concedes with probability 1. We then show that, if players are asymmetric, then, in all mixed-strategy Markov-perfect equilibria, these intensity measures must be discrete, and characterize any such equilibrium through a variational system for the players’ value functions. We illustrate these findings by revisiting the standard model of exit in a duopoly under uncertainty and construct a mixed-strategy Markov-perfect equilibrium in which attrition takes place on path despite firms having different liquidation values. We show that firms’ stock prices comove negatively over the attrition zone and exhibit patterns documented by technical analysis
MARIOTTI Thomas (TSE) The war of attrition under uncertainty: Theory and robust testable implications
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 30/05/2024 de 12:30:00 à 13:30:00
R1-16
MOREIRA Humberto (Fundação Getulio Vargas’ Brazilian School of Economics and Finance) *
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 06/06/2024 de 12:30:00 à 13:30:00
R1-14
ELMSAUHER Béla (PSE) *
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 13/06/2024 de 12:30:00 à 13:30:00
R2-20
BARDIER Pierre (PSE) *
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 20/06/2024 de 00:00:00 à 00:00:00
R2-20
SERRANO Roberto (Brown University) *
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Le 27/06/2024 de 12:30:00 à 13:30:00
R2-20
WEBER Giacomo (PSE) *