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Renato Gomes, and Andrea Mantovani
vol. 23, n. 1, February 2025, p. 190–235
Online intermediaries greatly expand consumer information, but also raise sellers’ marginal costs by charging high commissions. To prevent disintermediation, some platforms adopted price parity and anti-steering provisions, which restrict sellers’ ability to use alternative sales channels. Whether...
Francesco Agostinelli, Ciro Avitabile, and Matteo Bobba
vol. 133, n. 2, February 2025
This paper provides novel insights into the science of scaling by examining an educa-tional mentoring program in Mexico. The empirical analysis encompasses two independent field experiments, and seizes a unique opportunity to learn from the government’s implementation of the same intervention....
Fengmei Ma, Heming Wang, Asaf Tzachor, César Hidalgo, Heinz Schandl, Yue Zhang, Jingling Zhang, Wei-Qiang Chen, Yanzhi Zhao, Yong-Guan Zhu, and Bojie Fu
vol. 16, n. 1107, January 2025
The Sustainable Development Goals (SDGs) provide a comprehensive framework for societal progress and planetary health. However, it remains unclear whether universal patterns exist in how nations pursue these goals and whether key development areas are being overlooked. Here, we apply the product...
Sai Bravo-Melgarejo, and Carole Haritchabalet
vol. 141, n. 108095, January 2025
We present a stylized microeconomic model to analyze solar panels and storage investment decisions of a representative consumer under either grid (credit regulation) or individual (price regulation) storage. We identify the conditions under which prosumers become storers. We show that solar...
Aurore Archimbaud, Fériel Boulfani, Xavier Gendre, Klaus Nordhausen, Anne Ruiz-Gazen, and Joni Virta
vol. 33, January 2025, pp. 282–303
Invariant coordinate selection (ICS) is a multivariate data transformation and a dimension reduction method that can be useful in many different contexts. It can be used for outlier detection or cluster identification, and can be seen as an independent component or a non-Gaussian component analysis...
Maxime Derex, Jean-François Bonnefon, Robert Boyd, Richard McElreath, and Alex Mesoudi
vol. 292, n. 2039, January 2025
In many domains, learning from others is crucial for leveraging cumulative cultural knowledge, which encapsulates the efforts of successive generations of innovators. However, anecdotal and experimental evidence suggests that reliance on social information can reduce the exploration of the problem...
Jean-François Bonnefon, Augustin Landier, Parinitha Sastry, and David Thesmar
vol. 163, n. 103955, January 2025
We characterize investors’ moral preferences in a parsimonious experimental setting, where we auction stocks with various ethical features. We find strong evidence that investors seek to align their investments with their social values (“value alignment”), and find no evidence of behavior driven by...
Farid Gasmi, Dorgyles Kouakou, and Maruf Sanni
vol. 33, n. 1, January 2025, pp. 139–164
At the turn of the millennium, developing countries face a twofold challenge. First, for reasons related to both intra- and inter-generational justice, these countries need to follow sustainable development pathways. Second, they need to understand the deep principles underpinning informality,...
Emmanuel Farhi, and Jean Tirole
vol. 92, n. 1, January 2025, pp. 268–298
Authorities’ support policies shape the location and continuation of industrial and banking activity on their soil. Firms’ locus of activity depends on their prospect of receiving financial assistance in distress and therefore on factors such as countries’ relative resilience. We predict that...
Eduardo Abi Jaber, and Stéphane Villeneuve
vol. 29, January 2025, p. 143–176
Can a principal still offer optimal dynamic contracts that are linear in end-of-period outcomes when the agent controls a process that exhibits memory? We provide a positive answer by considering a general Gaussian setting where the output dynamics are not necessarily semimartingales or Markov...
