Seminari - Dipartimento Scienze Economiche validi dal 30.04.2026 al 30.04.2027. https://www.dse.univr.it/?ent=seminario&lang=it&rss=0 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6687 Relatore: Martin Larsson; Provenienza: Carnegie Mellon University Chicago; Data inizio: 2026-04-30; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Sara Svaluto-Ferro; Riassunto: Stochastic portfolio theory (SPT) is concerned with the dynamic properties of large equity markets, especially over long time horizons. While the theoretical literature is well developed, the empirical literature is much less so (with some notable exceptions). In this work we perform an empirical analysis of the large-scale behavior of the U.S. public equity universe, with a focus on the role of listing and delisting events. Such events have a profound impact on the distribution of capital. They can also produce severe biases in various statistical procedures that do not take these events into account. This phenomenon explains certain counterintuitive results that can arise when standard SPT models are calibrated to observed volatilities, collision rates, and long-term capital distributions. We develop procedures that correct for these biases, and find that our corrected estimates are remarkably consistent with the relationship between volatilities, local correlations, collision rates, and particle densities predicted by very simple diffusion models. Finally, we identify a mechanism by which listings and delistings can stabilize an otherwise unstable particle system. This is joint work with David Itkin and Licheng Zhang. Thu, 30 Apr 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6687 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6982 Relatore: Fiorella Parra-Mujica; Provenienza: Erasmus University Rotterdam; Data inizio: 2026-05-05; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Chiara Costi; Riassunto: As climate change increases the frequency and intensity of extreme weather events, understanding how health systems respond to sudden infrastructure shocks is becoming a policy priority. This paper studies the 2017 Coastal El Nintilde;o mdash; an exceptionally rapid and largely unanticipated flooding event that damaged nearly 1,000 health facilities across northern Peru mdash; to identify the causal effects of flood-driven care disruption on maternal and neonatal outcomes. Using nationwide birth registry data and hospital discharge records, and exploiting cross-district variation in flood exposure in an event-study and difference-in-differences framework, we document two distinct channels through which the shock propagated. In the short run, flood exposure raised the probability of preterm birth and triggered a surge in maternal infection and pregnancy-loss hospitalisations. In the medium run, it induced a sustained reallocation of deliveries away from damaged primary-care facilities and toward higher-level hospitals mdash; a structural shift that was strongest in districts most reliant on primary care before the disaster. These findings point to frontline obstetric infrastructure as a critical vulnerability in climate-exposed health systems, and suggest that resilience investments targeting primary facilities may yield larger equity gains than hospital-centred emergency responses. This is a joint work with I gna Bonfrer, Tom Van Ourti (Erasmus University Rotterdam). Tue, 5 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6982 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6706 Relatore: Matteo Ploner; Provenienza: Università di Trento; Data inizio: 2026-05-07; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Maria Vittoria Levati; Riassunto: We study whether gender-biased financial advice contributes to the gender gap in pension wealth. Using administrative records from four private pension funds in Italy, we document that women are 8 percentage points less likely than men to choose stock-focused investment lines at enrollment. To assess whether advisory behavior contributes to this gap, we conduct a vignette-based survey experiment among pension advisors affiliated to the four funds, randomly varying the gender of otherwise identical prospective clients. Advisors are 22 percentage points less likely to recommend stock-oriented portfolios to females, even after conditioning on advisors#39; beliefs about relevant client characteristics. We further show that a simple information intervention that makes advisors aware of the documented gender bias eliminates this gap in the experimental setting. Linking advisors to real clients in the administrative data, we demonstrate that the gender gap in actual investment choices shrinks by approximately 60% during the five months following the intervention. This evidence suggests that gender bias in financial advice is largely implicit and that low-cost informational feedback to advisors can meaningfully reduce gender disparities. Thu, 7 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6706 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6840 Relatore: Marco Mariotti; Provenienza: Queen Mary University of London; Data inizio: 2026-05-14; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Roberto Ricciuti; Riassunto: We study choice when alternatives are evaluated relative to endogenous opportunity costs. We propose the Self-Confirming Opportunity Model (SCOM), an intrapersonal equilibrium concept. In a SCOM each alternative is paired with the option chosen from the remaining menu as its opportunity cost, and choice maximises a menu-independent quaternary preference over such pairs. We provide a revealed-preference characterisation of this model. SCOM accommodates cyclical choice, Condorcet inconsistencies and choice overload patterns within a disciplined maximisation framework. Standard rational choice obtains if and only if the underlying quaternary preference satisfies a coherence condition, yielding a strict order over alternatives. Thu, 14 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6840 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6882 Relatore: Ernestina Bagatella; Provenienza: University of Verona; Data inizio: 2026-05-19; Ora inizio: 12.00; Note orario: Aula Vaona. Tue, 19 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6882 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6884 Relatore: Tadele Tefera; Provenienza: University of Verona; Data inizio: 2026-05-26; Ora inizio: 12.00; Note orario: Aula Vaona. Tue, 26 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6884 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6841 Relatore: Frederic Vrins; Provenienza: Louvain School of Management; Data inizio: 2026-05-28; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Alessandro Gnoatto. Thu, 28 May 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6841 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6885 Relatore: Maria Chaykina; Provenienza: University of Verona; Data inizio: 2026-06-09; Ora inizio: 12.00; Note orario: Aula Vaona. Tue, 9 Jun 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6885 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6886 Relatore: Alejandro Medina; Provenienza: University of Verona; Data inizio: 2026-06-16; Ora inizio: 12.00; Note orario: Aula Vaona. Tue, 16 Jun 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6886 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6876 Relatore: Deniz Erdemlioglu; Provenienza: IÉSEG School of Management; Data inizio: 2026-06-23; Ora inizio: 12.00; Note orario: Aula Vaona; Referente interno: Cecilia Mancini. Tue, 23 Jun 2026 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&lang=it&rss=0&id=6876