Monday Lunch Seminars
Monday Lunch Seminars
[Academic Events] Monday Lunch Seminars Giuliano Curatola (Goethe University Frankfurt)
"Pricing Sin Stocks: Ethical Preference vs. Risk Aversion"
[Academic Events] Monday Lunch Seminars Paolo Morganti
"Towards a General Theory of Vertical Differentiation"
[Academic Events] Monday Lunch Seminars Giovanna Nicodano (Collegio Carlo Alberto)
"Does Bankruptcy Risk Increase Value?" Abstract We show that bankruptcy exposure increases ex-post average firm value due to a survivorship bias. The reason is that bankruptcy cancels rms with the lowest realized cash ows from databases. Such bias gives rise to known pricing puzzles. It generates a discount on diversified companies when diversification helps their survival. Moreover, it…
[Academic Events] Monday Lunch Seminars Giovanni Mastrobuoni (Collegio Carlo Alberto)
"Open or Close the Door? Prison Conditions and Recidivism" Abstract The question of how prison conditions affect recidivism is very important. In designing a prison system, one would want to know the answer. We estimate the effect on recidivism of replacing time served in a common closed-cell prison with time served in an open-cell one, mimicking an experiment…
[Academic Events] Monday Lunch Seminars Bernardo Fanfani (University of Torino)
"The effects of collective bargaining on employment and growth" Abstract This paper analyses the employment effects of the Italian sectoral wage bargaining system. The study is based on high-frequency, comprehensive and updated information on employment and wages derived from administrative data on private-sector social security contributions, matched with precise information on the economic content of…
Monday Lunch Seminars Federico Boffa (UniBolzano)
"Congestion Externality and Autonomous Vehicles"
Monday Lunch Seminars Paolo Ghirardato (Collegio Carlo Alberto) and Daniele Pennesi
"A General Theory of Subjective Mixtures" Abstract We provide a framework for constructing subjective mixtures which requires neither the Certainty Independence nor the Monotonicity axiom, replacing them with much weaker "local'' properties, and which --as we show by means of several examples-- can thus serve as a purely subjective foundation to most of the recent…
Monday Lunch Seminars Edoardo Grillo (Collegio Carlo Alberto)
"Dynamic Campaign Spending" Abstract We build a model of electoral campaigning in which two candidates allocate money over time to control the movement of relative popularity. If any gain in a candidate's popularity tends to decay over time (making it harder for the candidate to maintain or increase her lead when she is already ahead)…
Monday Lunch Seminars Toomas Hinnosaar (Collegio Carlo Alberto)
"Price Setting on a Network" abstract Most products are produced and sold by supply chain networks, where an interconnected network of producers and intermediaries set prices to maximize their profits. I show that under a few technical assumptions, there is a unique equilibrium in a price-setting game on a network. The key distortion in the…
Monday Lunch Seminars Stefano Colonnello (IWH)
"Effectiveness and (In)Efficiencies of Compensation Regulation: Evidence from the EU Banker Bonus Cap" joint with LTI@UNITO
Monday Lunch Seminars Omer Moav (Warwick)
"The Emergence of Hierarchies and States: Productivity vs. Appropriability"
Monday Lunch Seminars Nicolas Groshenny (University of Adelaide)
"Do we really know that US monetary policy was destabilizing in the 1970s?"
Monday Lunch Seminars Pascal Courty (University of Victoria)
"The Value of Online Scarcity Signals"
Monday Lunch Seminars Dario Sansone (Georgetown University)
"Pink Work: Same-Sex Marriage, Employment and Discrimination" Abstract This paper analyzes how the legalization of same-sex marriage in the U.S. affected gay and lesbian couples in the labor market. Results from a difference-in-difference model emphasize that both partners in same-sex couples were more likely to be employed, to have a full-time contract, and to work…
Monday Lunch Seminars Vikram Maheshri (University of Houston)
"Explaining Recent Trends in US School Segregation: 1988-2014" Abstract We analyze trends in public school segregation throughout the United States from 1988 to 2014. While predominantly minority schools have increased in prevalence, predominantly white schools have decreased in prevalence at a faster rate. Overall, the majority of commuting zones in the US have experienced decreasing…
Monday Lunch Seminars Mariana Khapko (University of Toronto)
"Smart Settlement"
Monday Lunch Seminars Julian Wright (National University of Singapore)
"Steering by information intermediaries" Abstract We provide a model of an intermediary that can steer consumers towards particular firms due to its information advantage. Unlike most existing models of steering, our model allows firms to compete for consumers through commissions and prices. We explore the implications of steering for market outcomes, showing how steering reverses…
Monday Lunch Seminars Nicola Borri (LUISS)
"Limited Participation and Local Currency Sovereign Debt" Abstract Emerging country governments increasingly issue bonds denominated in local currency and the share of this market held by foreign investors, once negligible, has been progressively growing. This paper presents a model of segmented markets, in which specialized foreign investors can access multiple local markets only after paying an…
Monday Lunch Seminars Andrei Hagiu (MIT Sloan)
"Platforms and the exploration of new products" abstract The introduction of new but risky products and sellers are key to the growth of platforms. Exploration by current buyers helps future buyers better value these products and sellers. This externality across buyers raises the possibility that there may be too little exploration in the absence of…