Stefano Lovo


Published  papers

Herding in Equity Crowdfunding ( with T Astebro, M. Fernandez and N. Vulkan) The RAND Journal of Economics, forthcoming

Credit Rating Agencies, Information Asymmetry and US Bond Liquidity (with F. Salvadé and P. Raimbourg) Journal of Business Finance and Accounting, forthcoming.

A Contracting Model of entire Fairness: an Analysis of Divestitures of Parent-Held Control Blocks (with M. Slovin and M Sushka),  Journal of Law Finance and Accounting (2021), 6, 1-35.

Divisional Buyouts by Private Equity and the Market for Divested Assets (with U. Hege, M. Slovin and M. Sushka),  Journal of Corporate Finance, (2018), 53, 21-37. (online appendix) (Executive summary: knowledge@HEC article)

Zero-sum Revision Games (with F. Gensibtel, J. Renault, T. Tomala) Games and Economic Behavior, (2018), 108, 504-522.

A model of Trading in the Art Market (with C. Spaenjers), The American Economic Review, (2018), 108 (3) 744-774.  (Executive summary: knowledge@HEC article)

Belief-free Price Formation (with J. Hörner and T. Tomala) Journal of Financial Economics, (2018), 127 (2) 342-365. (Executive summary: knowledge @HEC article)

No-Trade in Second-Price Auction with Entry Costs and Secret Reserve Prices (with C. Spaenjers), Economic Letters, (2017), 142-144.

Risk Attitude, Beliefs Updating and the Information Content of Trades: An Experiment (with C. Bisière and J.P. Décamps) Managment Science, (2015), 61,1378-1397.

Credit Rating Industry: a Helicopter Tour of Stylized Facts and Recent Theories (with D-S. Jeaon) International Journal of Industrial Organization, 31 (2013) 643-651.

Asynchronicity and Coordination in Common and Opposing Interest Games (with R. Calcagno, Y.Kamada and T. Sugaya) Theoretical Economics, (2014) 9 (2) 409–434.

Belief free equilibria in games with incomplete information: Characterization and Existence (with J. Hörner and T. Tomala) Journal of Economic Theory, (2011), 146, 1770-1795.

Myopia and Monetary Equilibria, (with H. Polemarchakis). Journal of Mathematical Economics (2010) , 46 (5) 925-936.

Belief Free Equilibria in Games of Incomplete Information (with J. Hörner). Econometrica (2009) 77 (2) 453-487. supplement)

" Equity or Cash? The signal sent by the way you pay" ( with Uli hege, Marie E. Sushka, Myron B. Slovin), Harvard Business RevIew, May 2009.

Equity and Cash in Intercorporate Asset Sales: Theory and Evidence (with U. Hege, M. Slovin and M.Sushka). The Review of Financial Studies (2009) 22 (2) 681-714.(Executive summary: kowledge@HEC article)

Bid-Ask Price Competition with Asymmetric Information between Market Makers (with R. Calcagno). Review of Economic Studies (2006) 73, 329–355.

A Note on Risk Aversion and Herd Behavior in Financial Markets (with J.P. Decamps). The GENEVA Papers on Risk and Insurance Theory (2006) Vol 31.

Informational Cascades with Endogenous Price: the Role of Risk Aversion (with J.P. Decamps).Journal of Mathematical Economics (2006) 42 , 109–120.

Retaliatory Equilibria in a Japanese Ascending Auction for Multiple Objects (with G. L. Albano, F. Germano) The Review of Economic Design (2006) 10, 1-8

Ascending Auctions for Multiple Objects: The Case for the Japanese Design (with G. L. Albano, F. Germano), Economic Theory (2006) 28 , 331–355
De l'Impact de la Microstructure d'un Marché de Permis de Polluer sur la Politique Environnementale (with M. Germain, V. van Steenberghe) Annales d'Economie et Statistique, 74 (2004), 177-208.

A Comparison of Standard Multi-Unit Auctions With Synergies ( with G. L. Albano, F. Germano), Economics Letters, (2001) 71, 55-60.


Working papers

Carbon information, pricing, and bans. Evidence from a field experiment

Carbon Informatin, Pricing and Bans: Evidence from a Field Experiment (with Yurii Handziuk) Slides

Algorithmic Pricing and Liquidity In Security Markets (With Jean Edouard Colliard, and Thierry Foucault) Slides

ESG Investing: How to Optimize Impact? (with A. Landier) slides

Markov Perfect Equilibria in Stochastic Revision Games (with T. Tomala)

Reputation as Natural Barrier to Entry in the Credit Rating Industry (With D-S Jeon)

Preopening and equilibrium selection (with R. Calcagno)

Linkage principle, Multi-dimensional Signals and Blind Auctions (With T. Foucault)

Infinitely Lived Representative Agent Exchange Economy with Myopia, CORE Discussion Paper, Université Catholique de Louvain, 2000, n° 2000/28.

On the Choice of the Divestiture Method (with M. Slovin and M. Sushka)

The Role of Private Equity in Asset Sales ((with U. Hege, M. Slovin and M.Sushka)


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