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This thesis consists of three chapters on informational frictions in financial markets. The chapters analyze problems related to markets' ability to guide real investment, and what drives liquidity. Both problems are important to ensure efficient resource ...
Many decision problems in science, engineering, and economics are affected by uncertainty, which is typically modeled by a random variable governed by an unknown probability distribution. For many practical applications, the probability distribution is onl ...
The excessive volatility of prices in financial markets is one of the most pressing puzzles in social science. It has led many to question economic theory, which attributes beneficial effects to markets in the allocation of risks and the aggregation of inf ...
Forecasts about 'peak oil', the limits of oil production, are the subject of controversies. 'Peak oil' forecasts are based on extrapolations of a priori chosen mathematical models fitted to field data. Scientifically that is not very sound. To clarify this ...
In contrast with expected utility theory, empirical findings indicate that decision-makers are sensitive to departures from reference points rather than states. Several tests of the reference-dependent preference framework have been carried out in experime ...
This article is inspired by the observation of a massive change of opinion on the part of economists regarding the question of the patent as a mechanism allowing an economically acceptable solution to be found to the so-called “imperfect appropriability” p ...
Mainstream approaches to design spatial architectural forms that are structurally relevant consist either in adapting well-known and catalogued conventional types or in searching for close-to-optimum solutions of well-defined problems. Few means exist to e ...
We study an economy populated by three groups of myopic agents: constrained agents subject to a portfolio constraint that limits their risk taking, unconstrained agents subject to a standard nonnegative wealth constraint, and arbitrageurs with access to a ...
In future tokamaks like ITER with tungsten walls, it is imperative to control tungsten accumulation in the core of operational plasmas, especially since tungsten accumulation can lead to radiative collapse and disruption. We investigate the behaviour of tu ...
Carbon capture & sequestration (CCS) could reduce CO2 emissions from large fossil-fuel power plants on the short term, but the high energy penalty of the process hinders its industrial deployment. Moreover, the utility of nanoporous materials, known to be ...