In this paper we show how the order of Linear Stochastic Dominance proposed by Gollier (1995) can be applied to situations with dependent risky assets.

L'objet de cet article est de presenter une synthese de la litterature theorique concernant les interactions entre strategies financieres et strategies de production.

We investigate in this paper the attitude towards risk of bettors in British horce races. The model we use allows us to go beyond the expected utility framework and to explore various alternative proposals by estimating a multinomial model on 34443-race dataset. We find that rank-dependant...

We analyze a model related to the strategic hereding literature where a second expert maximises his expected second period vvalue by conforming witj a first expert ("herding"). In contrast to the herdinfg literature we assume that an agent is most valuable if he is the only smart agent. We...

We examine an important class of decision problem under uncertainty that entails the standarrd portfolio problem and the demand for coinsurance. The agent faces a controllable risk -his demand for a risky asset for example- and a background risk. We determine how a change in the distribution in...

This paper shows how the instruments of incentive theory can be used to develop some views about the proper design of governments to avoid the capture of politicians and bureaucrats by interest groups.