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Jean-François Bonnefon
vol. 37, n. 1, March 2018, pp. 113–119
The dual-process model of cognition but most especially its reflective component, system 2 processing, shows strong conceptual links with critical thinking. In fact, the salient characteristics of system 2 processing are so strikingly close to that of critical thinking, that it is tempting to claim...
Marc Ivaldi, and Jérôme Pouyet
vol. 62, February 2018, pp. 21–30
Based on the modern theory of regulation, the analysis aims to characterize the effective economic regulation of the French railway industry. The methodology consists in econometrically testing various scenarios of regulation and determining which of these best fits the data. Using aggregate data...
Johannes Hörner, Stefano Lovo, and Tristan Tomala
vol. 127, n. 2, February 2018, pp. 342–365
We analyze security price formation in a dynamic setting in which long-lived dealers repeatedly compete for trading with potentially informed retail traders. For a class of market microstructure models, we characterize equilibria in which dealers’ dynamic pricing strategies are optimal no matter...
Stefan Hoderlein, and Anne Vanhems
vol. 33, n. 1, February 2018, pp. 52–72
This paper proposes a framework to model welfare effects that are associated with a price change in a population of heterogeneous consumers. The framework is similar to that of Hausman and Newey (Econometrica, 1995, 63, 1445–1476), but allows for more general forms of heterogeneity. Individual...
Vessela Daskalova
vol. 107, January 2018, pp. 238–252
This paper presents an experiment investigating whether decision makers discriminate between members of their own group and members of another group. I focus on two aspects of this question: First, I compare behavior in individual and in joint decisions; Second, I test whether the identity of the...
Roberta Dessi, and Xiaojian Zhao
n. 145, January 2018, pp. 474–494
The available evidence from numerous studies suggests that overconfidence varies significantly across countries. We develop a model that endogenizes these differences and examines their economic consequences. A crucial determinant of difierences in overconfidence is the degree of expected stability...
Jianyu Yu, Zohra Bouamra-Mechemache, and Angelo Zago
vol. 100, n. 1, January 2018, pp. 286–310
Collective labels are widespread in food markets, either separated or nested with private brands; the latter known as nested names. We propose a model to explain the rationale of nested names, with collective labels being effective in reaching unaware consumers while individual brands help firms to...
Stefan Ambec, and Jessica Coria
vol. 87, January 2018, pp. 114–134
We analyze the interplay between policies aimed to control transboundary and local pollu- tants such as greenhouse gases and particulate matter. The two types of pollution interact in the abatement cost function of the polluting firms through economies or diseconomies of scope. They are regulated...
Renato Gomes, Jean-Marie Lozachmeur, and Alessandro Pavan
vol. 85, n. 1, January 2018, pp. 511–557
We develop a framework to study optimal sector-specific taxation, where each agent chooses an occupation by comparing her skill differential with the tax burden differential across sectors. Because skills are not perfectly transferable, the Diamond-Mirrlees theorem (according to which the second-...
James K. Hammitt, and Daniel Herrera-Araujo
vol. 87, January 2018, pp. 165–189
We develop validity tests for application to stated-preference estimates of WTP to reduce mortality risk, i.e., value per statistical life (VSL), and apply these to data obtained by surveying a representative sample of French adults over the internet. These tests (WTP nearly proportional to risk...
