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Basil Williams (NYU)
Toulouse: TSE, September 16, 2022, 14:00–15:30, room Auditorium 4
We present a model of dynamic trading with exogenous and strategic cancellation of orders. We define spoofing as the strategic placing and canceling of orders in order to move prices and trade later in the opposite direction. We show that spoofing can occur in equilibrium. Consistent with regulator...
Gianmarco Leon-Ciliotta (University of Pompeu Fabra, Barcelona)
September 15, 2022, 11:00–12:30, room Auditorium 4
A classic problem faced by organizations is to decide how to distribute incentives among their different layers. By means of a field experiment with a large public-health organization in Sierra Leone, we show that financial incentives maximize output when they are equally shared between frontline...
Fabien Gensbittel (Toulouse School of Economics)
Toulouse: TSE, September 15, 2022, 11:00–12:15, room Auditorium 3
We study a generic family of two-player continuous-time nonzero-sum stopping games modeling a war of attrition under complete information and stochastic payoffs depending on a homogeneous linear diffusion. We first show that any Markovian mixed strategy can be represented by a pair $(\mu,S)$ where...
Sami Stouli (Bristol University)
TSE, September 13, 2022, 15:30–16:50, room Auditorium 5
We propose flexible Gaussian representations for conditional cumulative distribution functions and give a concave likelihood criterion for their estimation. Optimal representations satisfy the monotonicity property of conditional cumulative distribution functions, including in finite samples and...
Jakub Steiner
Toulouse: TSE, September 13, 2022, 09:00–10:30, room Auditorium 5
This paper examines connections between stochastic growth and decision problems. We use tools from the theory of large deviations to show that wishful thinking decision problems are equivalent to utility maximization problems, both of which are equivalent to growth maximization under idiosyncratic...
Gert Peersman (Ghent University)
September 13, 2022
Sarah Moshary (Berkeley University)
TSE, September 12, 2022, 14:15–15:00, room Auditorium 4
This paper estimates consumer demand for firearms with the aim of evaluating the likely impacts of firearm regulations. We first conduct a stated-choice-based conjoint analysis and estimate an individual-level demand model for firearms. We validate our estimates using aggregate moments from...
Inge van den Bijgaart (Utrecht University School of Economics)
Toulouse: TSE, September 12, 2022, 11:00–12:15, room T 430
Green innovation is essential for climate change mitigation, but not all innovative projects deliver equal social value. We consider innovator heterogeneity in a model where the policy maker cannot observe innovation quality and directly subsidize the socially most valuable green innovations. We nd...
Joel Waldfogel (University of Minnesota and NBER)
September 6, 2022, 14:00–15:00, Zoom Meeting
Using data on 4.1 million apps at the Google Play Store from 2016 to 2019, we document that GDPR induced the exit of about a third of available apps; and in the quarters following implementation, entry of new apps fell by half. We estimate a structural model of demand and entry in the app market....
Simon Mayer
September 6, 2022
We model the dynamic competition among national fiat currencies, cryptocurrencies, and Central Bank Digital Currencies (CBDCs), whereby a country’s fiscal strength and currency strength are mutually reinforcing. The rise of cryptocurrencies hurts stronger fiat currencies, but can benefit weaker...
