In a recent volume titled Demande (Expectation), containing texts written over period of more than thirty years, but each devoted to different aspects the relationship between philosophy and literature, Jean-Luc Nancy offers suggestive account their mutual genesis ongoing dialogue in order underline way which, beyond apparent dialectical reciprocity, literature are inseparable from unanswered u...

What are the effects of banks holding opaque, complex assets? Should regulators require bank assets to be more transparent? I study these questions in a model financial intermediation where opacity determines how long realized value an asset remains unknown. By allowing sell before realization is known, provides insurance bank's depositors. However, higher also increases depositors' incentives ...

Background: Fragility fractures (FF) are that result from mechanical forces would not ordinarily in fracture, known as low-level (or ‘low energy’) trauma. 1 Studies have shown history of wrist fracture increases the risk for subsequent FF. 2 Objectives: To assess predictive factors FF occurring after a fracture. Methods: Retrospective monocentric study included patients with observed at emergen...

We show that the value of commitment in many standard games is fragile. Specifically, when the second mover faces a small cost to observe the first mover’s action, equilibrium payoffs are identical to the case where observation is infinitely costly or the first mover’s actions are completely unobservable. Applications of our result include standard Stackelberg-Cournot and differentiated product...

Should policy makers be prevented from bailing out investors in the event of a crisis? I study this question in a model of financial intermediation with limited commitment. When a crisis occurs, the policy maker will respond by transferring resources to those investors facing losses. The anticipation of such a “bailout” distorts ex ante incentives, leading intermediaries to become excessively i...