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Details about Bruno R Biais

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Workplace:Institut d'Économie Industrielle (IDEI) (Institute of Industrial Economics), Toulouse School of Economics (TSE), (more information at EDIRC)

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Last updated 2019-10-03. Update your information in the RePEc Author Service.

Short-id: pbi43


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Working Papers

2019

  1. Equilibrium Bitcoin Pricing
    2019 Meeting Papers, Society for Economic Dynamics Downloads
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2018) Downloads View citations (3)
  2. The blockchain folk theorem
    Post-Print, HAL View citations (2)
    Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2017) Downloads View citations (11)
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2017) Downloads View citations (5)
    TSE Working Papers, Toulouse School of Economics (TSE) (2018) Downloads View citations (10)

    See also Journal Article in Review of Financial Studies (2019)

2018

  1. Endogenous agency problems and the dynamics of rents
    TSE Working Papers, Toulouse School of Economics (TSE) Downloads
  2. The Microstructure of the Bond Market in the 20th Century
    TSE Working Papers, Toulouse School of Economics (TSE) Downloads View citations (1)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business Downloads
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2007) Downloads View citations (21)

    See also Journal Article in Review of Economic Dynamics (2019)
  3. Variation margins, fire sales, and information-constrained optimality
    Working Paper Series, European Central Bank Downloads
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) Downloads

2017

  1. Asset pricing and risk sharing in a complete market: An experimental investigation
    TSE Working Papers, Toulouse School of Economics (TSE) Downloads View citations (4)
  2. Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    Also in HEC Research Papers Series, HEC Paris (2017) Downloads View citations (1)
  3. Optimal margins and equilibrium prices
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads
    Also in 2016 Meeting Papers, Society for Economic Dynamics (2016) Downloads
    TSE Working Papers, Toulouse School of Economics (TSE) (2017) Downloads
  4. Who supplies liquidity, how and when?
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (8)
    Also in BIS Working Papers, Bank for International Settlements (2016) Downloads View citations (8)
    TSE Working Papers, Toulouse School of Economics (TSE) (2017) Downloads

2016

  1. Risk-sharing or risk-taking? Counterparty-risk, incentives and margins
    Post-Print, HAL View citations (12)
    Also in Working Paper Series, European Central Bank (2012) Downloads View citations (7)

    See also Journal Article in Journal of Finance (2016)

2015

  1. Dynamics of Innovation and Risk
    Post-Print, HAL View citations (2)
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2013) Downloads
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2013) Downloads

    See also Journal Article in Review of Financial Studies (2015)
  2. Equilibrium fast trading
    Post-Print, HAL View citations (47)
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2014) View citations (19)
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2014) Downloads View citations (5)
    HEC Research Papers Series, HEC Paris (2013) Downloads View citations (20)

    See also Journal Article in Journal of Financial Economics (2015)

2014

  1. Equilibrium Fast Traders
    2014 Meeting Papers, Society for Economic Dynamics Downloads
  2. Equilibrium Pricing and Trading Volume under Preference Uncertainty
    Post-Print, HAL View citations (9)
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2013) Downloads
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2013) Downloads

    See also Journal Article in Review of Economic Studies (2014)
  3. Risk-sharing or risk-taking? An incentive theory of counterparty risk, clearing and margins
    TSE Working Papers, Toulouse School of Economics (TSE) Downloads View citations (2)
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2014) Downloads View citations (2)

2013

  1. The (ir)resistible rise of agency rents
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads

2012

  1. Clearing, counterparty risk and aggregate risk
    Post-Print, HAL View citations (17)
    Also in Working Paper Series, European Central Bank (2012) Downloads View citations (24)

    See also Journal Article in IMF Economic Review (2012)
  2. Innovations, rents and risk
    DNB Working Papers, Netherlands Central Bank, Research Department Downloads
    Also in FMG Discussion Papers, Financial Markets Group (2010) Downloads View citations (1)
    TSE Working Papers, Toulouse School of Economics (TSE) (2010) Downloads View citations (1)
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2010) Downloads View citations (1)
  3. Trading and liquidity with limited cognition
    2012 Meeting Papers, Society for Economic Dynamics Downloads
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2010) Downloads View citations (2)
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2010) Downloads View citations (2)
    Working Papers, HAL (2012)
    2011 Meeting Papers, Society for Economic Dynamics (2011) Downloads View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads

2010

  1. Large risks, limited liability, and dynamic moral hazard
    Post-Print, HAL View citations (51)
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2009) View citations (1)

    See also Journal Article in Econometrica (2010)

2009

  1. Credit, wages and bankruptcy laws
    Post-Print, HAL View citations (7)
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2008) Downloads View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) Downloads View citations (2)

    See also Journal Article in Journal of the European Economic Association (2009)
  2. Equilibrium Asset Pricing and Portofolio Choice Under Asymmetric Information
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2009) Downloads

    See also Journal Article in Review of Financial Studies (2010)
  3. Equilibrium Discovery and Preopening Mechanisms in an Experimental Market
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (7)
    Also in TSE Working Papers, Toulouse School of Economics (TSE) (2009) Downloads

    See also Journal Article in Management Science (2014)
  4. Hindsight Bias, Risk Perception, and Investment Performance
    Post-Print, HAL View citations (18)
    See also Journal Article in Management Science (2009)
  5. Liquidity Shocks and Order Book Dynamics
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (7)
    TSE Working Papers, Toulouse School of Economics (TSE) (2009) Downloads View citations (8)
    2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (3)
  6. Political Predation and Economic Development
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) Downloads View citations (5)
    Post-Print, HAL (2009) View citations (3)
    TSE Working Papers, Toulouse School of Economics (TSE) (2009) Downloads View citations (5)

    See also Journal Article in Economics and Politics (2009)
  7. Rents, learning and risk in the financial sector and other innovative industries
    FMG Discussion Papers, Financial Markets Group Downloads View citations (1)
  8. The Lifecycle of the Financial Sector and Other Speculative Industries
    TSE Working Papers, Toulouse School of Economics (TSE) Downloads View citations (2)
    Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2009) Downloads View citations (1)
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2009) Downloads View citations (2)

2008

  1. Entrepreneurs and New Ideas
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) Downloads View citations (9)

    See also Journal Article in RAND Journal of Economics (2008)
  2. Hindsight Bias and Investment Performance
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads

2007

  1. Dealing in Junk
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
  2. Liquidity, Competition & Price Discovery in the European Corporate Bond Market
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (5)

2006

  1. Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (1)
    See also Journal Article in Review of Economic Studies (2007)
  2. Imperfect Competition in Financial Markets: ISLAND versus NASDAQ
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (1)
  3. Transparency, Liquidity and Information in Dealer Markets
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse

2004

  1. Dynamic Security Design
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (21)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business (2004) Downloads View citations (5)
  2. Judgmental Overconfidence, Self-Monitoring and Trading Performance in an Experimental Financial Market
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (11)
    See also Journal Article in Review of Economic Studies (2005)
  3. Liquidity and the Cost of Funds in the European Treasury Market
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (3)
  4. Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (1)
    See also Journal Article in Journal of Financial Markets (2005)
  5. Strategic Liquidity Supply and Security Design
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads
    Also in STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE (2003) Downloads View citations (4)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2003) Downloads View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) Downloads

    See also Journal Article in Review of Economic Studies (2005)

2003

  1. Equilibrium Asset Pricing Under Heterogenous Information
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (1)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business Downloads
  2. Operational Risk and Capital Requirements in the European Investment Fund Industry
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (2)

2002

  1. Imperfect Competition in Financial Markets: ISLAND vs. NASDAQ
    GSIA Working Papers, Carnegie Mellon University, Tepper School of Business Downloads View citations (11)
  2. Psychological Traits and Trading Strategies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (7)
    Also in CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy (2000) Downloads View citations (4)
  3. The Microstructure of Stock Markets
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (4)

2001

  1. Price Discovery Across the Rhine
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (1)
    See also Journal Article in Review of Finance (2004)

2000

  1. A Structural Econometric Investigation of the Agency Theory of Financial Structure
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society Downloads View citations (2)
  2. IPO Auctions: English, Dutch,... French and Internet
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (1)
    See also Journal Article in Journal of Financial Intermediation (2002)
  3. Microstructure, Incentives, and the Discovery of Equilibrium in Experimental Financial Markets
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse Downloads View citations (3)
  4. Privatization versus regulation in developing economies: The case of West African banks
    William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan Downloads View citations (1)
    See also Journal Article in Journal of African Economies (2004)

1998

  1. Competing Mechanisms in a Commun Value Environment
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (2)
    See also Journal Article in Econometrica (2000)
  2. Floors, dealer markets and limit order markets
    Post-Print, HAL View citations (7)
    See also Journal Article in Journal of Financial Markets (1998)
  3. Machiavellian Underpricing
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (7)

1997

  1. Microstructure des marchés financiers: institutions, modèles et tests empiriques
    Post-Print, HAL View citations (3)
  2. Short Sales COnstraints, Liquidity and Price Discovery: An Empirical Analysis on the Paris Bourse
    Working Papers, Toulouse - GREMAQ View citations (4)
    See also Journal Article in European Financial Management (1999)

1996

  1. An optimal IPO mechanism
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (1)
    See also Journal Article in Review of Economic Studies (2002)

1995

  1. Implicit collusion on wide spreads
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra Downloads

1994

  1. Adverse selection in an insurance pool
    Working Papers, Risk and Insurance Archive
  2. On the Survival of Irrational Traders: A Darwinian Approach
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations (1)

1993

  1. Asset Prices and Volume in a Beauty Contest
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences Downloads View citations (1)
  2. Asymétries d'information et marchés financiers: une synthèse de la littérature récente
    Post-Print, HAL
    See also Journal Article in L'Actualité Economique (1993)

1991

  1. Options Prices, Insider Trading, and Interdealer Competition
    CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 33 Great Sutton Street, London EC1V 0DX.

Journal Articles

2019

  1. Blockchains, Coordination, and Forks
    AEA Papers and Proceedings, 2019, 109, 88-92 Downloads
  2. The Blockchain Folk Theorem
    Review of Financial Studies, 2019, 32, (5), 1662-1715 Downloads View citations (2)
    See also Working Paper (2019)
  3. The Microstructure of the Bond Market in the 20th Century
    Review of Economic Dynamics, 2019, 33, 250-271 Downloads View citations (1)
    See also Software Item (2018)
    Working Paper (2018)

2016

  1. Risk-Sharing or Risk-Taking? Counterparty Risk, Incentives, and Margins
    Journal of Finance, 2016, 71, (4), 1669-1698 Downloads View citations (16)
    See also Working Paper (2016)

2015

  1. Dynamics of Innovation and Risk
    Review of Financial Studies, 2015, 28, (5), 1353-1380 Downloads View citations (3)
    See also Working Paper (2015)
  2. Equilibrium fast trading
    Journal of Financial Economics, 2015, 116, (2), 292-313 Downloads View citations (68)
    See also Working Paper (2015)
  3. Report of the Editor of the Journal of Finance for the Year 2014
    Journal of Finance, 2015, 70, (4), 1839-1854 Downloads

2014

  1. Equilibrium Discovery and Preopening Mechanisms in an Experimental Market
    Management Science, 2014, 60, (3), 753-769 Downloads View citations (2)
    See also Working Paper (2009)
  2. Equilibrium Pricing and Trading Volume under Preference Uncertainty
    Review of Economic Studies, 2014, 81, (4), 1401-1437 Downloads View citations (10)
    See also Working Paper (2014)
  3. HFT and Market Quality
    Bankers, Markets & Investors, 2014, (128), 5-19 Downloads View citations (8)

2013

  1. Corrigendum to "Competing Mechanisms in a Common Value Environment"
    Econometrica, 2013, 81, (1), 393-406 Downloads View citations (4)
  2. Incentive compatible centralised clearing
    Financial Stability Review, 2013, (17), 161-168 Downloads View citations (2)
  3. Report of the Editor of The Journal of Finance for the Year 2012
    Journal of Finance, 2013, 68, (4), 1691-1705 Downloads

2012

  1. Clearing, Counterparty Risk, and Aggregate Risk
    IMF Economic Review, 2012, 60, (2), 193-222 Downloads View citations (31)
    See also Working Paper (2012)

2010

  1. Equilibrium Asset Pricing and Portfolio Choice Under Asymmetric Information
    Review of Financial Studies, 2010, 23, (4), 1503-1543 Downloads View citations (29)
    See also Working Paper (2009)
  2. Imperfect Competition in Financial Markets: An Empirical Study of Island and Nasdaq
    Management Science, 2010, 56, (12), 2237-2250 Downloads View citations (15)
  3. Large Risks, Limited Liability, and Dynamic Moral Hazard
    Econometrica, 2010, 78, (1), 73-118 Downloads View citations (93)
    See also Working Paper (2010)

2009

  1. Credit, Wages, and Bankruptcy Laws
    Journal of the European Economic Association, 2009, 7, (5), 939-973 Downloads View citations (7)
    See also Working Paper (2009)
  2. Hindsight Bias, Risk Perception, and Investment Performance
    Management Science, 2009, 55, (6), 1018-1029 Downloads View citations (21)
    See also Working Paper (2009)
  3. POLITICAL PREDATION AND ECONOMIC DEVELOPMENT
    Economics and Politics, 2009, 21, (2), 255-277 Downloads View citations (5)
    See also Working Paper (2009)

2008

  1. Entrepreneurs and new ideas
    RAND Journal of Economics, 2008, 39, (4), 1105-1125 Downloads View citations (25)
    See also Working Paper (2008)

2007

  1. Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications
    Review of Economic Studies, 2007, 74, (2), 345-390 Downloads View citations (136)
    See also Working Paper (2006)

2005

  1. Judgemental Overconfidence, Self-Monitoring, and Trading Performance in an Experimental Financial Market
    Review of Economic Studies, 2005, 72, (2), 287-312 Downloads View citations (108)
    See also Working Paper (2004)
  2. Market microstructure: A survey of microfoundations, empirical results, and policy implications
    Journal of Financial Markets, 2005, 8, (2), 217-264 Downloads View citations (107)
    See also Working Paper (2004)
  3. Risque opérationnel et régulation du capital dans l’industrie de la gestion de fonds d’investissement en Europe
    Revue d'Économie Financière, 2005, 79, (2), 197-211 Downloads
  4. Strategic Liquidity Supply and Security Design
    Review of Economic Studies, 2005, 72, (3), 615-649 Downloads View citations (21)
    See also Working Paper (2004)

2004

  1. Price Discovery across the Rhine
    Review of Finance, 2004, 8, (1), 49-74 Downloads View citations (6)
    Also in Review of Finance, 2004, 8, (1), 49-74 (2004) Downloads View citations (2)

    See also Working Paper (2001)
  2. Privatisation versus Regulation in Developing Economies: The Case of West African Banks
    Journal of African Economies, 2004, 13, (3), 361-394 View citations (8)
    See also Working Paper (2000)

2002

  1. An Optimal IPO Mechanism
    Review of Economic Studies, 2002, 69, (1), 117-146 Downloads View citations (50)
    See also Working Paper (1996)
  2. Editorial
    European Economic Review, 2002, 46, (9), iii-iii Downloads
  3. IPO Auctions: English, Dutch,... French, and Internet
    Journal of Financial Intermediation, 2002, 11, (1), 9-36 Downloads View citations (22)
    See also Working Paper (2000)
  4. Incentive-Compatible Contracts for the Sale of Information
    Review of Financial Studies, 2002, 15, (4), 987-1003 View citations (13)
  5. Machiavellian Privatization
    American Economic Review, 2002, 92, (1), 240-258 Downloads View citations (134)

2001

  1. Informal and Formal Credit Markets and Credit Rationing in Côte D'Ivoire
    Oxford Review of Economic Policy, 2001, 17, (4), 520-534 View citations (15)

2000

  1. Competing Mechanisms in a Common Value Environment
    Econometrica, 2000, 68, (4), 799-838 View citations (152)
    See also Working Paper (1998)
  2. Darwinian selection does not eliminate irrational traders
    European Economic Review, 2000, 44, (3), 469-490 Downloads View citations (5)

1999

  1. Price Discovery and Learning during the Preopening Period in the Paris Bourse
    Journal of Political Economy, 1999, 107, (6), 1218-1248 Downloads View citations (93)
  2. Short Sales Constraints, Liquidity and Price Discovery: An Empirical Analysis on the Paris Bourse
    European Financial Management, 1999, 5, (3), 395-410 Downloads View citations (7)
    See also Working Paper (1997)

1998

  1. Asset Prices and Trading Volume in a Beauty Contest
    Review of Economic Studies, 1998, 65, (2), 307-340 Downloads View citations (48)
  2. Floors, dealer markets and limit order markets
    Journal of Financial Markets, 1998, 1, (3-4), 253-284 Downloads View citations (15)
    See also Working Paper (1998)

1997

  1. Trade Credit and Credit Rationing
    Review of Financial Studies, 1997, 10, (4), 903-37 View citations (189)

1995

  1. An Empirical Analysis of the Limit Order Book and the Order Flow in the Paris Bourse
    Journal of Finance, 1995, 50, (5), 1655-89 Downloads View citations (397)
  2. La structure financière des entreprises: une investigation empirique sur données françaises
    Économie et Prévision, 1995, 120, (4), 15-28 Downloads View citations (7)

1994

  1. Insider and Liquidity Trading in Stock and Options Markets
    Review of Financial Studies, 1994, 7, (4), 743-80 Downloads View citations (66)

1993

  1. Asymétrie d’information et marchés financiers: une synthèse de la littérature récente
    L'Actualité Economique, 1993, 69, (1), 8-44 Downloads
    See also Working Paper (1993)
  2. Price Information and Equilibrium Liquidity in Fragmented and Centralized Markets
    Journal of Finance, 1993, 48, (1), 157-85 Downloads View citations (122)

1990

  1. Formation des prix sur les marchés de contrepartie. Une synthèse de la littérature récente
    Revue Économique, 1990, 41, (5), 755-788 Downloads View citations (1)

Edited books

2002

  1. New Research in Corporate Finance and Banking
    OUP Catalogue, Oxford University Press
  2. New Research in Financial Markets
    OUP Catalogue, Oxford University Press

Software Items

2018

  1. Code and data files for "The Microstructure of the Bond Market in the 20th Century"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article in Review of Economic Dynamics (2019)
 
Page updated 2020-01-23