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Matthieu Bouvard, P Chaigneau, and A de Motta
vol. 70, n. 4, 2015, pp. 1805–1837
We present a theory of optimal transparency when banks are exposed to rollover risk. Disclosing bank‐specific information enhances the stability of the financial system during crises, but has a destabilizing effect in normal economic times. Thus, the regulator optimally increases transparency...
Xavier Irz, Pascal Leroy, Vincent Réquillart, and Louis-Georges Soler
vol. 39, 2015, pp. 188–201
The effect of consumers’ compliance with nutritional recommendations is uncertain because of potentially complex substitutions. To lift this uncertainty, we adapt a model of consumer behaviour under rationing to the case of linear nutritional constraints. Dietary adjustments are thus derived from...
Arnaud Reynaud
Katherine A. Daniell, Quentin R. Grafton, Céline Nauges, Jean-Daniel Rinaudo, and Michael B. Ward (eds.), 2015
Emmanuelle Auriol, and Sara Biancini
vol. 29, n. 1, 2015, pp. 1–40
Power market integration is analyzed in a two-country model with nationally regulated firms and costly public funds. If the generation costs between the two countries are too similar, negative business stealing outweighs efficiency gains so that, subsequent to integration, welfare decreases in both...
Guillaume Cheikbossian
vol. 125, n. 1, 2015, pp. 145–169
Dans cet article, nous étudions l'aptitude des membres d'un groupe à coopérer dans leurs activités de recherche de rentes afin de renforcer leurs position dans le conflit qui les opposent à une institution en place pour l'attribution d'une rente. Plus précisément, nous considérons un jeu répété...
Gilles Allaire, Eric Cahuzac, Yann Desjeux, Elise Maigné, Thomas Pomeon, and Michel Simioni
vol. 59, December 2015, pp. 70–81
This paper discusses the development of organic farming (OF) in France from a collective point of view byfocusing on the spatiotemporal diffusion of OF and considering different types of production. Based on thedata on aid granted between 2007 and 2010 for conversion to OF (COF), the spatial...
Edhitt Cortez Linares, Daniel Eid Rodriguez, Michael Gurven, Hillard Kaplan, Jonathan Stieglitz, and Benjamin C. Trumble
2015
Andrew Rhodes
vol. 82, 2015, pp. 360–390
We study the pricing behaviour of a multiproduct firm, when consumers must pay a search cost to learn its prices. Equilibrium prices are high, because consumers understand that visiting a store exposes them to a hold-up problem. However, a firm with more products charges lower prices, because it...
Dale Whittington, Céline Nauges, David Fuente, and Xun Wu
vol. 34, 2015, pp. 70–81
It is conventional wisdom that poor households use less water than rich households, and intuition suggests that an increasing block tariff with a lifeline block will target subsidies to poor households. In this paper we provide a simple diagnostic tool that a water utility can use to estimate the...
Catarina Goulão, and Luca Panaccione
vol. 35, n. 1, 2015
In this paper, we extend the framework of Dubey and Geanakoplos (2002) to the case 6 of moral hazard. Risk-averse consumers, who can in uence the likelihood of states of 7 nature by undertaking a hidden action, receive insurance by voluntarily participating 8 in a pool of promises of deliveries of...
