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Manvir Singh, and Luke Glowacki
vol. 43, September 2022, pp. 418–431
Many researchers assume that until 10–12,000 years ago, humans lived in small, mobile, relatively egalitarian bands. This “nomadic-egalitarian model” suffuses the social sciences. It informs evolutionary explanations of behavior and our understanding of how contemporary societies differ from those...
Manvir Singh
n. 31, September 2022, pp. 266–280
Why is culture the way it is? Here I argue that a major force shaping culture is subjective (cultural) selection, or the selective retention of cultural variants that people subjectively perceive as satisfying their goals. I show that people evaluate behaviors and beliefs according to how useful...
Marcel Boyer
vol. 35, n. 1, September 2022, pp. 134–163
Prosecution of the retail gasoline price-fixing cartel in Quebec was the culmination of the largest and one of the most successful criminal investigations in the history of the Competition Bureau of Canada. In June 2008, criminal charges were brought against a number of individuals and companies...
Philippe De Donder, Bertrand Achou, Franca Glenzer, and Minjoon Lee
vol. 201, September 2022, pp. 1–21
COVID-19 outbreaks at nursing homes during the recent pandemic have received ample media coverage and may have lasting negative impacts on individuals’ perception of nursing homes. We argue that this could have sizable and persistent implications for savings and long-term care policies. Our...
Douadia Bougherara, Lana Friesen, and Céline Nauges
vol. 201, September 2022, pp. 83–104
We study the interaction between risk-taking and skewness-seeking behavior among a demographically diverse sample of French adults using an experiment that elicits certainty equivalent over lotteries that vary the second and third moments orthogonally. We find that the most common behavior is risk...
Milo Bianchi, Rose-Anne Dana, and Elyès Jouini
vol. 74, September 2022, pp. 505–546
Consider a firm owned by shareholders with heterogeneous beliefs and run by a manager who chooses random production plans. Shareholders do not observe the chosen plan but only its realization. The financial market consists of assets contingent on production realizations. A contract for the manager...
Marc Ivaldi, and Jiekai Zhang
vol. 70, n. 3, September 2022, pp. 591–630
This paper contributes to the analysis of mergers in two-sided markets, notably those in which a platform provides its service for free on one side but obtains all its revenues from the other, as in the digital TV industry. Specifically, we assess a decision of the French competition authority...
Eric Arias, Horacio Larreguy, John Marshall, and Pablo Querubin
vol. 20, n. 4, August 2022, p. 1433–1477
Effective policy-making requires that voters avoid electing malfeasant politicians. However, as our simple learning model emphasizing voters’ prior beliefs and updating highlights, informing voters of incumbent malfeasance may not entail sanctioning. Specifically, electoral punishment of incumbents...
Laurent Miclo, Daniel Spiro, and Jörgen W. Weibull
vol. 101, n. 102669, August 2022
How much and when should we limit economic and social activity to ensure that the health-care system is not overwhelmed during an epidemic? We study a setting where ICU resources are constrained and suppression is costly. Providing a fully analytical solution we show that the common wisdom of “...
Christopher Clayton, and Andreas Schaab
vol. 137, n. 3, August 2022, p. 1681–1736
We study the scope for international cooperation in macroprudential policies. Multinational banks contribute to and are affected by fire sales in countries they operate in. National governments setting quantity regulations noncooperatively fail to achieve the globally efficient outcome,...
