RUFINI , Alexandra

The European Regulation 834/2007, responsible for the definition of the European Organic Label since 2009, allows a non-intentional presence of authorised GMOs limited to the threshold of 0.9 % in organic production. Such a threshold, when strictly positive, allows organic producers to keep the organic label in case of a small GM contamination....

The European Regulation 834/2007, responsible for the definition of the European Organic Label since 2009, allows a non-intentional presence of authorised GMOs limited to the threshold of 0.9 % in organic production. Such a threshold, when strictly positive, allows organic producers to keep the organic label in case of a small GM contamination....

International audience

Purpose– The purpose of this paper is to consider competition's issues between European market firms, such as Euronext, and multilateral trading facilities, following Markets in Financial Instruments Directive's enforcement. This new domestic competition is adding to the existing international competition among financial centers. While...

European financial markets experiment a strong competition between historical players and new trading platforms, including the controversialdark pools. Our theoretical setting analyzes the interaction between heterogeneous investors and trading services providers in presence of market externalities. We compare ...

In this paper, we investigate the distribution strategy of a software publisher. The user adoption context is characterized by uncertainty about quality (experience good) and heterogeneous piracy costs. Users can purchase or get unauthorized/illegal copies (digital piracy) of the software during two periods (or not adopt at all). Between these...

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Les auteurs étudient la formation du taux d'intérêt à partir de données originales collectées sur une plateforme française de crowdlending, caractérisée par un mécanisme d'enchères inversées. Ils montrent que les informations financières expertes classiquement utilisées en analyse du risque crédit ont un pouvoir explicatif très limité sur le...

International audience

We explore two recent phenomena in equitycrowdfunding platforms: the development of dedicated secondary markets and the crucial role of institutional investors (lead investors in terms of pledge). First, we propose a theoretical model in which crowd and lead investors choose to finance campaigns posted by entrepreneurial firms that are...

International audience

Can software piracy be profitable for a software editor? We tackle this issue in a simple model where software is an experience good and where the potential users can choose to adopt or pirate software or to delay their adoption. In that context, we show that a moderate piracy can be profitable for a software editor to foster users' adoption.

Can software piracy be profitable for a software editor? We tackle this issue in a simple model where software is an experience good and where the potential users can choose to adopt or pirate software or to delay their adoption. In that context, we show that a moderate piracy can be profitable for a software editor to foster users' adoption.

We investigate how introducing a bidding agent impacts the process and outcome of an online reverse auction in the context of a crowdlending platform. We consider this issue in the context of a peer-to-business platform that connects individual lenders to small and medium-sized enterprises. Using a before/after study design, we perform an...

We explore two recent phenomena in equity crowdfunding platforms: the development of dedicated secondary markets and the crucial role of institutional investors (lead investors in terms of pledge). First, we propose a theoretical model in which crowd and lead investors choose to finance campaigns posted by entrepreneurial firms that are...

We analyze the determinants of the level of interest rates related to business loans traded on crowdlending platforms. We consider an original dataset based on loans from one leading platform in France. We show that the rating provided by the platform significantly influences the interest rates. While financial ratios traditionally used to...