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16:00 | Applied Micro Research Seminar
Prof. Marie-Claire Villeval (University of Lyon) “The Way People Lie in Markets”
The University of Lyon, France
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Authors: Chloe Tergiman and Marie Claire Villeval
Abstract: In a finitely repeated game with asymmetric information, we experimentally study how reputation and standard market mechanisms change the nature of fraudulent announcements by experts. While some lies can be detected ex post by investors, other lies remain deniable. Lying behavior suggests that individuals care more about the consequences of being caught, rather than the act of lying per se. Allowing for reputation reduces the frequency of lies that can be detected but has no impact on deniable lies: individuals simply hide their lies better and fraud persists. Competition without reputation increases risky lies and never protects investment.
Keywords: Dishonesty, Reputation, Competition, Financial Markets, Experiment
JEL: C91, D01, G41, M21
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Full Text: “The Way People Lie in Markets”
20:30 | Economics Discovery Hub
Přemysl Rubeš: How Does Start-up Investing Work
Přemysl Rubeš: How Does Start-up Investing Work
Monday 18:30 - 21:00
Starting date: 21 October 2019
Lecture is organized in cooperation with our partners Prague Finance Institute.
About Přemysl Rubeš:
Přemysl is a former mathematician holding scientific and engineering degrees from the Faculty of Nuclear Sciences and Physical Engineering at CTU. He started his career in Paris as a Revenue Management quant analyst programming BI applications for flight managers at Air France.
Later in Prague he co-founded and led the Czech branch of the French corporation Altersis. After his exit in 2013 he joined the CEE investment company Rockaway to help with several of its investment projects. In 2016 he partnered with Czech industrial tycoon Tomas Krsek and his BHM group to co-found an early stage tech start-up VC investment company, BVC.
Přemysl is also involved in start-up education at STEM universities, entrepreneurship lectures, and start-up mentoring in Europe, Israel and the United States. Outside of business he plays double-bass, table tennis and loves cooking.
