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Christian Gouriéroux, Alain Monfort, and Jean-Paul Renne
vol. 144, n. 104502, November 2022
One of the objectives of the recent microprudential regulation is to separate the computation of required capital for short-run and long-run risks. This paper provides a coherent framework to define, compute, and update these components. The approach is developed in greater details in the context...
Péter Bayer, Joel Brown, Johan Dubbeldam, and Mark Broom
vol. 551-552, n. 111237, November 2022
This paper develops and analyzes a Markov chain model for the treatment of cancer. Cancer therapy is modeled as the patient’s Markov Decision Problem, with the objective of maximizing the patient’s discounted expected quality of life years. Patients make decisions on the duration of therapy based...
Takuro Yamashita, and Shuguang Zhu
vol. 14, n. 4, November 2022, pp. 494–514
In private-value auction environments, Chung and Ely (2007) establish maxmin and Bayesian foundations for dominant-strategy mechanisms. We first show that similar foundation results for ex post mechanisms hold true even with interdependent values if the interdependence is only cardinal. This...
Matteo Bobba, and Veronica Frisancho
vol. 231, n. 1, November 2022, pp. 58–73
A growing body of evidence suggests that people exhibit large biases whenprocessing information about themselves, but less is known about the under-lying inference process. This paper studies belief updating patterns regardingacademic ability in a large sample of students...
Pierre Pestieau, and Xavier Flawinne
October 2022, 192 pages
Les sociétés contemporaines font face au défi du vieillissement de la population. Nous vivons de plus en plus longtemps, et en bonne santé. Mais tout le monde ne bénéficie pas de cette longévité accrue de la même façon. Combien coûte le vieillissement ? À quelles conditions peut-on vieillir...
Bastien Cabarrou, Eve Leconte, Patrick Sfumato, Jean Marie Boher, and Thomas Filleron
vol. 22, n. 278, October 2022
Given the inherent challenges of conducting randomized phase III trials in older cancer patients, single-arm phase II trials which assess the feasibility of a treatment that has already been shown to be effective in a younger population may provide a compelling alternative. Such an approach would...
David Martimort, Guillaume Pommey, and Jérôme Pouyet
vol. 164, October 2022, pp. 25–44
Modern airports provide commercial services to passengers in addition to aeronautical services to airlines. We analyze the optimal regulation design of the airport when the airport also invests in the quality of its infrastructure. The optimal regulation can be implemented with a price-cap and a...
Laurent Miclo
vol. 184, October 2022, p. 275–322
Consider finite state space irreducible and absorbing Markov processes. A general spectral criterion is provided for the absorbing time to be close to an exponential random variable, whatever the starting point. When exiting points are added to the state space, our criterion also insures that the...
Frédéric Cherbonnier, and Christian Gollier
vol. 43, n. 4, October 2022
When evaluating public and private investment projects, those that contribute more to the collective risk should be more penalized through an upward adjustment of their discount rate. This paper shows how to estimate the risk-adjusted discount rate for different projects, with applications to the...
Ilaria Pretelli, Erik Ringen, and Sheina Lew-Levy
vol. 8, n. 41, October 2022
Our species’ long childhood is hypothesized to have evolved as a period for learning complex foraging skills. Researchers studying the development of foraging proficiency have focused on assessing this hypothesis, yet studies present inconsistent conclusions regarding the connection between...
