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Jean-Paul Azam
n° 23-1483, octobre 2023, révision novembre 2024
This paper presents an interpretation of the main arguments used in Peter Olivi’s Treatise on Demons, published circa 1295 in Narbonne, Languedoc, within a rational-choice framework. This book has been widely praised as a landmark in the philosophical literature on personhood and personal freedom,...
Jean Tirole
vol. 15, septembre 2023, p. 573–605
Tech giants' dominance does not confront us with an unpalatable choice between laissez-faire and populist interventions. This article takes stock of available knowledge, considers desirable adaptations of regulation in the digital age, and draws some conclusions for policy reform.
Olivier Jean Blanchard, Christian Gollier et Jean Tirole
vol. 15, septembre 2023, p. 689–722
Climate change poses an existential threat. Theoretical and empirical research suggest that carbon pricing and green R&D support are the right tools, but their implementation can be improved. Other policies, such as standards, bans, and targeted subsidies, also all have a role to play, but they...
Sébastien Gadat et Stéphane Villeneuve
n° 23-1471, septembre 2023
This document introduces a parsimonious novel method of processing textual data based on the NMF factorization and on supervised clustering withWasserstein barycenter’s to reduce the dimension of the model. This dual treatment of textual data allows for a representation of a text as a probability...
Sylvain Chabé-Ferret, Philippe Le Coent, Valentin David-Legleye et Véronique Delannoy
vol. 50, n° 4, septembre 2023, p. 1401–1427
Payments for Environmental Services (PESs) are increasingly used to foster farmers’ adoption of greener practices, but their effectiveness is often undermined by low enrollment. In a large randomized field experiment (N = 20,000), we test several non-monetary incentives to increase enrollment into...
Daniel L. Chen et Martin Schonger
septembre 2023
The strategy method (SM) is, in practice, subject to a possibly severe economic-theoretical bias. Although many studies utilize SM to examine responses to rare or off-equilibrium behaviors unattainable through direct elicitation (DE), they ignore the fact that the strategic equivalence between SM...
Michele Bisceglia
vol. 158, n° 104532, septembre 2023
Due to the switching behavior of online consumers, news outlets increasingly compete with each other to attract audience for each single news item they produce, rather than for complete editions of their newspapers: the so called unbundling of journalism. Using a standard Hotelling model, I show...
Johannes Hörner et Jérôme Renault
n° 23-1473, septembre 2023
We adapt the methods from Abreu, Pearce and Stacchetti (1990) to finitely repeated games with imperfect public monitoring. Under a combination of (a slight strengthening of) the assumptions of Benoıˆt and Krishna (1985) and those of Fudenberg, Levine and Maskin (1994), a folk theorem follows. Three...
Piret Avila et Laurent Lehmann
vol. 573, n° 111598, septembre 2023, révision 10 juin 2026
The cost of germline maintenance gives rise to a trade-off between lowering the deleterious mutation rate and investing in life history functions. Therefore, life history and the mutation rate coevolve, but this coevolution is not well understood. We develop a mathematical model to analyse the...
Sébastien Pouget et Daniel Kim
n° 23-1472, septembre 2023, révision novembre 2025
We empirically study whether carbon emissions affect firms’ cost of capital raised on conventional bond markets. We find that firms with higher carbon emissions face higher spreads in the secondary market but not in the primary market. We show that this gap is related to uncertainty about climate...
