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Michael Becher, and Daniel Stegmueller
vol. 19, n. 1, March 2021, pp. 92–109
It has long been recognized that economic inequality may undermine the principle of equal responsiveness that lies at the core of democratic governance. A recent wave of scholarship has highlighted an acute degree of political inequality in contemporary democracies in North America and Europe. In...
Mohamed Saleh, and Jean Tirole
vol. 89, n. 4, March 2021, pp. 1881–1919
A ruler who does not identify with a social group, whether on religious, ethnic, cultural or socioeconomic grounds, is confronted with a trade-off between taking advantage of the out-group population’s eagerness to maintain its identity and inducing it to “comply” (conversion, quit, exodus or any...
Jieying Hong, Sophie Moinas, and Sébastien Pouget
vol. 185, March 2021, pp. 1–26
Does learning reduce or fuel speculative bubbles? We study this issue in the context of the Bubble Game proposed by Moinas and Pouget (2013). Our theoretical analysis based on adaptive learning shows that i) in the long run, learning induces convergence to the unique no-bubble equilibrium, ii) in...
Pascal Bégout, and Ian Schindler
vol. 72, n. 115, March 2021
Yaping Wu, David Bardey, Yijuan Chen, and Sanxi Li
vol. 30, n. 3, March 2021, pp. 525–543
This article explores a three‐party contracting problem when the patient and the provider possess private information that is unobservable to the insurer. We show that for an insurance mechanism to be collusion‐proof, it suffices for the insurer to rely on the incentive for one side of the patient‐...
Nicolas Treich, and Yuting Yang
vol. 106, n. 102421, March 2021
Standard benefit-cost analysis often ignores distortions caused by taxation and the heterogeneity of taxpayers. In this paper, we theoretically and numerically explore the effect of imperfect taxation on the public provision of mortality risk reductions (or public safety). We show that this effect...
Ayşegül Kanay, Denis Hilton, Laetitia Charalambides, Jean-Baptiste Corrégé, Eva Inaudi, Laurent Waroquier, and Stéphane Cezera
vol. 83, n. 102348, March 2021
We compared the effectiveness of basket goal-setting to product information strategies on sustainable consumption in a simulated online supermarket. Experiment 1 found a significant effect of basket goal setting techniques with carbon basket feedback in either numerical or graphical form on the...
Aditya Goenka, Lin Liu, and Manh-Hung Nguyen
vol. 93, n. 102476, March 2021
This paper studies an optimal growth model where there is an infectious disease with SIR dynamics which can lead to mortality. Health expenditures (alternatively intensity of lockdowns) can be made to reduce infectivity of the disease. We study implications of two different ways to model the...
Elsa Addessi, Valeria Tierno, Valentina Focaroli, Federica Rossi, Serena Gastaldi, Francesca De Petrillo, Fabio Paglieri, and Jeffrey R. Stevens
vol. 376, n. 1819, March 2021
Principles of economics predict that the costs associated with obtaining rewards can influence choice. When individuals face choices between a smaller, immediate option and a larger, later option, they often experience opportunity costs associated with waiting for delayed rewards because they must...
E. Quintiero, Serena Gastaldi, Francesca De Petrillo, Elsa Addessi, and Sacha Bourgeois-Gironde
Money represents a cornerstone of human modern economies and how money emerged as a medium of exchange is a crucial question for social sciences. Although non-human primates have not developed monetary systems, they can estimate, combine and exchange tokens. Here, we evaluated quantity–quality...
