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[Academic Events] Seminars in Politics and Society Fabien Accominotti (London School of Economics)

How the Reification of Merit Breeds Inequality: Theory and Experimental Evidence Abstract: In a variety of social contexts, measuring merit and performance are crucial steps toward enforcing meritocratic ideals. At the same time, workable measures are bound to obfuscate the fuzziness and ambiguity of merit, i.e. to reify performance into an artificially crisp and clear-cut…

[Academic Events] Seminars in Economics Marcin Kacperczyk (Imperial College London)

"Do Foreign Investors Improve Market Efficiency?" Abstract We study the impact of foreign institutional investors on global capital allocation and welfare using firm-level international data. Using MSCI index inclusion as an exogenous shock to foreign ownership, we show that greater foreign ownership leads to more informative stock prices and this effect arises more from increased…

Seminars in Economics of Innovation and Knowledge Carlos Serrano (UPF)

"How Redeployable are Patent Assets? Evidence from Failed Startups" ABSTRACT Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents “released” to the market when startups fail. This study provides a first look at the frequency and speed with which patents originating from failed startups are redeployed to…

Seminars in Economics of Innovation and Knowledge Nicolas Carayol (Université de Bordeaux)

"Team Work Complexity, Scientific Competition and Interdisciplinary Research" Abstract This paper aims at understanding the increasing complexity of researchprojects as one of the possible explanations for the fall in researchers’ productivity observedover decades. We conceptualize a research project as an idea and a team of researchers.Each idea is associated to a given knowledge production function…

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…

Seminars in Economics of Innovation and Knowledge Andrès Rodriguez-Pose (LSE)

"The revenge of places that don’t matter" abstract Persistent poverty, economic decay and lack of opportunities cause discontent in declining regions, while policymakers reason that successful agglomeration economies drive economic dynamism, and that regeneration has failed. This column argues that this disconnect has led many of these ‘places that don’t matter’ to revolt in a…

Seminars in Economics Loriana Pelizzon (Universita Ca Foscari Venice and SAFE-Goethe University Frankfurt)

"Residential mortgage defaults and positive equity: Lessons from Europe" abstract We empirically investigate mortgage default behavior in the European market where mortgages are recourse loans, i.e. borrowers are responsible upon default for the difference between the value of the outstanding debt and the value of the house. We show that the majority of defaults happen…

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)…