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Eran Shmaya, and Bruno Ziliotto
vol. 63, n. 3, 2025
We consider a mean-field game model in which the cost functions depend on a fixed parameter referred to as the “state,” which remains unknown to the players. Players acquire information about the state through private signals received during the course of the game. We derive a mean-field system...
André Grimaud, and Luc Rougé
vol. 29, n. e98, 2025, pp. 1–30
Technical progress is considered a key element in the fight against climate change. It may take the form of technological breakthroughs, that is, shocks that induce significant leaps in the stock of knowledge. We use an endogenous growth framework with directed technical change to analyze the...
Olivier Faugeras
2025, forthcoming
Compositional Data (CoDa) is usually viewed as data on the simplex and is studied via a log-ratio analysis, following the classical work of Aitchison (1986). We propose to bring to the fore an alternative view of CoDa as a stick breaking process, an approach which originates from Bayesian...
Daniel L. Chen, and Susan Yeh
vol. 128, n. 103155, 2025, forthcoming
Does obscenity law affect moral values and does it matter? Using random judge assignment and all U.S. obscenity precedents since 1958, we report four key findings. Democratic judges, more than Republicans, tended to vote progressively in obscenity cases. Such progressive rulings liberalized sexual...
Christophe Courbage, Richard Peter, Béatrice Rey, and Nicolas Treich
Georges Dionne (ed.), 3ème edition, Springer Cham, 2025
This chapter surveys the economic literature on prevention and precaution. Prevention refers to costly activities that mitigate risk. Prevention encompasses self-protection, an investment to reduce the probability of loss, and self-insurance, an investment to reduce the severity of loss. Precaution...
Romain Espinosa, and Nicolas Treich
In this paper, we empirically investigate fairness judgments about animals. We design a survey that addresses major challenges associated with the inclusion of animal welfare in public decisions. Collecting data from a representative sample of the French population (N=1,526), we document the views...
Benjamin Ouvrard, Arnaud Reynaud, and Murudaiah Sivamurthy
vol. 11, n. 1, 2025
Using an experimental setting inspired by the empirical social choice literature, we analyze how Indian farmers define fair water allocation. We investigate the choices of 240 Indian farmers who — as a neutral third-party — are asked to make water allocation decisions in situations that differ,...
Léo Fitouchi, Manvir Singh, Jean-Baptiste André, and Nicolas Baumard
2025
Why do humans believe in moralizing gods? Leading accounts argue that these beliefs evolved because they help societies grow and promote group cooperation. Yet recent evidence suggests that beliefs in moralizing gods are not limited to large societies and might not have strong effects on...
Christian Gollier
Because of risk aversion, any sensible investment valuation system should value less projects that contribute more to the aggregate risk. In theory, this is done by adjusting discount rates to consumption betas. But in reality, most public institutions use a dis-count rate that is rather...
Ahmed Ezzeldin Mohamed
vol. 69, n. 4, 2025, pp. 731–760
Autocratic elections are often marred with systematic intimidation and violence towards voters and candidates. When do authoritarian regimes resort to violent electoral strategies? I argue that electoral violence acts as a risk-management strategy in competitive authoritarian elections where: (a)...
