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Elias Albagli, Christian Hellwig, and Aleh Tsyvinski
vol. 113, n. 9, September 2023, pp. 2323–2354
We analyze the consequences of noisy information aggregation for investment. Market imperfections create endogenous rents that cause overinvestment in upside risks and underinvestment in downside risks. In partial equilibrium, these inefficiencies are particularly severe if upside risks are coupled...
Justin Johnson, Andrew Rhodes, and Matthijs Wildenbeest
vol. 91, n. 5, September 2023, pp. 1841–1879
We investigate the ability of a platform to design its marketplace to promote competition, improve consumer surplus, and increase its own payoff. We consider demand‐steering rules that reward firms that cut prices with additional exposure to consumers. We examine the impact of these rules both in...
James K. Hammitt
vol. 32, n. 9, September 2023, pp. 1964–1981
Justina Klimaviciute, and Pierre Pestieau
vol. 37, n. 4, September 2023, pp. 1192–1213
With the rapid increase in long-term care (LTC) needs, it is important to assess the expected contributions of the traditional providers of LTC: the state, the market and the family. We first survey the literature devoted to the family and the market. Then, given the declining role of family...
Daniel L. Chen, Moti Michaeli, and Daniel Spiro
vol. 157, n. 104521, August 2023
In many contexts individuals are subject to norms and decisions they disagree with ideologically. What is the effect of regularly being in an ideological minority on the propensity to confront majority norms and decisions? We study this in an ideologically-salient field setting – US appeals courts...
Jianyu Yu, Olivier Bonroy, and Zohra Bouamra-Mechemache
vol. 105, n. 3, August 2023, pp. 1176–1196
This article provides a new explanation for the positive role of cooperatives in quality provision along the agri-food chain. We study the economic rationale for cooperative acting as an intermediary between producers and a downstream (DS) firm when the DS firm cannot observe the individual quality...
Farid Gasmi, Laura Recuero Virto, and Denis Couvet
n. 101130, August 2023
Using a novel database on countries exposed to coastal risks (CR), this paper estimates an augmented neoclassical growth model that encompasses eight other new growth models. To account for uncertainty related to the number of models and choice of growth determinant proxies, we use a Bayesian...
Georges Casamatta
Toronto, vol. 56, n. 3, August 2023, pp. 919–939
I determine the optimal income tax schedule when individuals both choose endogenously their labour supply and have the possibility of avoiding paying taxes. Considering a convex concealment cost function, I propose a formula for the optimal marginal tax rate, that generalizes the formula of the...
Péter Bayer, and Jeffrey West
August 2023
Evolutionary game theory has been highly valuable in studying frequency-dependent selection and growth between competing cancer phenotypes. We study the connection between the type of competition as defined by the properties of the game, and the convexity of the treatment response. Convexity is...
Jorge Peña, and Georg Nöldeke
The prisoner’s dilemma, the snowdrift game, and the stag hunt are two-player symmetric games that are often considered as prototypical examples of cooperative dilemmas across disciplines. However, surprisingly little consensus exists about the precise mathematical meaning of the words “cooperation...
