Seminari - Dipartimento Economics Seminari - Dipartimento Economics validi dal 16.10.2021 al 16.10.2022. https://www.dse.univr.it/?ent=seminario&rss=0&lang=en Brown Bag Seminar: "How Experience Shapes Third-Party Punishment Through the Change of Social Norms Perceptions and Emotions" https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5448 Relatore: Katarina Cellarova; Provenienza: Masaryk University; Data inizio: 2021-10-19; Ora inizio: 12.00; Referente interno: Simone Quercia; Riassunto: In this paper, we experimentally investigate the effect of a previous experience on third-party punishment decisions for the experienced situation. Third-party punishment serves as an enforcement mechanism of social norms and depends on emotions, therefore, it is important to understand how these social norm perceptions and emotions arise. We posit that a previous experience plays a crucial role hereby. We design an online experiment, in which we measure the difference in the willingness to punish a dictator in a dictator game. We use a between-subjects design, with an identical punishment stage and identical wealth of punishing subjects across treatments, but differing in whether subjects experience the dictator game before as a receiver, observe it or do not have any information. We find that experiencing a low transfer changes both norm perceptions and emotions. Most dominantly is the change in empirical expectations especially after experiencing or observing a transfer of 0. Empirical expectations are the main driver for punishment decisions, yet less for females, whose personal norms are more important. After a transfer of 0, norms are shifted downwards and punishment decisions are lower. At the same time, experiencing a low transfer arouses negative emotions, increases punishment decisions, and hence can cancel out the norm effect depending on the intensity of the change of norms and emotions. We therefore find evidence both for norm-based and emotion-based third-party punishment that is triggered after an experience and observation. . Tue, 19 Oct 2021 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5448 Mobile Internet and the Rise of Populism https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5433 Relatore: Andrea Tesei; Provenienza: Queen Mary, University of London; Data inizio: 2021-10-20; Ora inizio: 12.00; Note orario: Zoom Webinar.; Referente interno: Roberto Ricciuti; Riassunto: quot;Mobile Internet and the Rise of Populismquot; (con M. Manacorda e G. Tabellini). Link Zoom: https://univr.zoom.us/j/83496476891. Wed, 20 Oct 2021 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5433 Correlations, Value Factor Returns and Growth Options https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5394 Relatore: Lorenzo Schoenleber; Provenienza: Collegio Carlo Alberto, Torino; Data inizio: 2021-10-27; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Roberto Renò; Riassunto: Abstract This paper documents that the average equity market correlation is informative about the value of growth options and the correlation dynamics of growth and value stocks and, in turn, forecasts changes in growth options and the returns on the value factor. Consistently, a production-based asset-pricing model shows that correlations are homogeneous among stocks with similar growth characteristics and increasing in the value of growth options. Therefore, the expected average equity correlation serves as a leading procyclical state variable and drives the value premium. Correlations extracted from an equity value index improve the predictability of value-related factors in-sample and out-of-sample. Keywords: option-implied correlations, value premium, present value of growth options, production model, factor return predictability, option-implied information, trading strategy, diversification, factor risk JEL Classification: G11, G12, G13, G17 Paper Link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3480606 Speaker Homepage: https://sites.google.com/view/lorenzo-schoenleber/menu Zoom link : https://univr.zoom.us/j/82815150930. Wed, 27 Oct 2021 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5394 Miryana Grigorova (University of Leeds) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5440 Relatore: Miryana Grigorova; Provenienza: University of Leeds; Data inizio: 2021-11-03; Ora inizio: 12.00; Note orario: Zoom Webinar.; Referente interno: Alessandro Gnoatto; Riassunto: Personal Website: https://www.miryanagrigorova.com/ Zoom link: https://univr.zoom.us/j/81199748149. Wed, 3 Nov 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5440 Mean field games with absorption and common noise with a model of bank run https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5439 Relatore: Luciano Campi; Provenienza: Università di Milano; Data inizio: 2021-11-09; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Alessandro Gnoatto; Riassunto: Abstract: We consider a mean field game describing the limit of a stochastic differential game of $N$-players whose state dynamics are subject to idiosyncratic and common noise and that can be absorbed when they hit a prescribed region of the state space. We provide a general result for the existence of weak mean field equilibria which, due to the absorption and the common noise, are given by random flow of sub-probabilities. We first use a fixed point argument to find solutions to the mean field problem in a reduced setting resulting from a discretization procedure and then we prove convergence of such equilibria to the desired solution. We exploit these ideas also to construct $\varepsilon$-Nash equilibria for the $N$-player game. Since the approximation is two-fold, one given by the mean field limit and one given by the discretization, some suitable convergence results are needed. We also introduce and discuss a novel model of bank run that can be studied within this framework.This talk is based on a joint paper with Matteo Burzoni (University of Milan). Personal Website https://sites.google.com/site/lucianocampi1/Home Zoom Link: https://univr.zoom.us/j/86972120506. Tue, 9 Nov 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5439 Marcus Giamattei (Bard College, Berlin) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5436 Relatore: Marcus Giamattei; Provenienza: Bard College, Berlin; Data inizio: 2021-11-17; Ora inizio: 12.00; Referente interno: Roberto Ricciuti. Wed, 17 Nov 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5436 Sergio Pulido (École Nationale Supérieure d'Informatique pour l'Industrie et l'Entreprise) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5420 Relatore: Sergio Pulido; Provenienza: École Nationale Supérieure d'Informatique pour l'Industrie et l'Entreprise; Data inizio: 2021-11-24; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente esterno: Roberta Vesentini; Riassunto: Zoom link: https://univr.zoom.us/j/82694434356. Wed, 24 Nov 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5420 Simone Borghesi https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5422 Relatore: Simone Borghesi; Data inizio: 2021-12-01; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Riassunto: Zoom link: https://univr.zoom.us/j/84783741138. Wed, 1 Dec 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5422 Cecilia Testa (University of Nottingham) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5419 Relatore: Cecilia Testa; Provenienza: University of Nottingham; Data inizio: 2021-12-15; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Roberto Ricciuti; Riassunto: Zoom link: https://univr.zoom.us/j/84721992279. Wed, 15 Dec 2021 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5419 Judith Rousseau (Dept. of Statistics, University of Oxford) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5397 Relatore: Judith Rousseau; Provenienza: University of Oxford; Data inizio: 2022-01-19; Ora inizio: 12.00; Referente interno: Catia Scricciolo. Wed, 19 Jan 2022 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5397 Massimiliano Onorato (Università di Bologna) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5415 Relatore: Massimiliano Onorato; Provenienza: Università di Bologna; Data inizio: 2022-01-26; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Roberto Ricciuti; Riassunto: Zoom link: https://univr.zoom.us/j/81394622213. Wed, 26 Jan 2022 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5415 Piercarlo Zanchettin (University of Nottingham). https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5450 Relatore: Piercarlo Zanchettin; Provenienza: University of Nottingham; Data inizio: 2022-03-02; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Roberto Ricciuti; Riassunto: Link Zoom: https://univr.zoom.us/j/89673582862 . Wed, 2 Mar 2022 12:00:00 +0100 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5450 Katia Colaneri (Tor Vergata) https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5441 Relatore: Katia Colaneri; Provenienza: Università di Roma Tor Vergata; Data inizio: 2022-04-13; Ora inizio: 12.00; Note orario: In presenza + Zoom Webinar.; Referente interno: Alessandro Gnoatto; Riassunto: Personal page: https://sites.google.com/site/katiacolaneri/ Link Zoom: https://univr.zoom.us/j/86803688017. Wed, 13 Apr 2022 12:00:00 +0200 https://www.dse.univr.it/?ent=seminario&rss=0&lang=en&id=5441