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Pierre Dubois, Gosia Majewska et Valentina Reig
n° 23-1417, mars 2023
Drug shortages are a problem widely documented around the world. We develop a simple method allowing to identify shortage events and their intensity using sales data at a national level. In the case of prescription drugs, shortages occur when the quantities supplied do not meet demand at regulated...
Christian Bontemps, Cristina Gualdani et Kevin Remmy
n° 23-1415, mars 2023, révision 2 juillet 2025
We develop a two-stage game in which competing airlines first choose the networks of markets to serve in the first stage before competing in price in the second stage. Spillovers in entry decisions across markets are allowed, which accrue on the demand, marginal cost, and fixed cost sides. We show...
Abdelaati Daouia, Simone A. Padoan et Gilles Stupfler
n° 23-1414, mars 2023, révision mai 2024
The use of expectiles in risk management has recently gathered remarkable momentum due to their excellent axiomatic and probabilistic properties. In particular, the class of elicitable law-invariant coherent risk measures only consists of expectiles. While the theory of expectile estimation at...
Charlotte Cavaillé, Karine Van Der Straeten et Daniel L. Chen
n° 23-1424, mars 2023
Survey design often approximates a prediction problem: the goal is to select instruments that best predict the value of an unobserved construct or a future outcome. We demonstrate how advances in machine learning techniques can help choose among competing instruments. First, we randomly assign...
Farid Gasmi, Dorgyles Kouakou, Paul Noumba Um et Pedro Rojas Milla
n° 23-1423, mars 2023
This paper presents an empirical application and analysis of the social contract in MENA countries based on the conceptual framework proposed by Loewe et al. (2021). We suggest a simple operational model synthesizing a social contract's three main characteristics: Participation, Protection, and...
Marc Ivaldi, Nicolas Petit et Selçukhan Unekbas
n° 23-1420, mars 2023, révision octobre 2024
Do established firms buy new businesses to take out future competition? Recent works in economics literature use “killer acquisitions” as a graphic concept to describe these transactions. How concerned should competition policy be? The answer to this question hinges on how much the “theory” of...
Maxime Derex et Thomas J. H. Morgan
sous la direction de Jamshid J. Tehrani, Jeremy Kendal et Rachel Kendal, Oxford University Press, février 2023
Human adaptation relies on the multigenerational transmission and accumulation of both skills and knowledge. Nonetheless, there is currently no agreement on which factor, or combination of factors, explains our peculiar ability to do so. Theoretical and empirical work, however, has identified many...
Doh-Shin Jeon, Domenico Menicucci et Nikrooz Nasr
vol. 15, n° 1, février 2023, p. 30–73
We study mix-and-match compatibility choices of firms selling complementary products in a dynamic setting. Contrary to what happens in a static setting where symmetric firms choose compatibility (Matutes and Regibeau 1988), when switching costs are high and firms make price discrimination based on...
Sabine Noebel, Antoine Jacquet, Guillaume Isabel, Arnaud Pocheville, Paul Seabright et Etienne Danchin
vol. 98, n° 1, février 2023, p. 132–149
Although conformity as a major driver for human cultural evolution is a well-accepted and intensely studied phenomenon, its importance for non-human animal culture has been largely overlooked until recently. This limited for decades the possibility of studying the roots of human culture. Here, we...
Silvia Rossetto, Nassima Selmane et Raffaele Staglianò
vol. 50, n° 1-2, février 2023, p. 377–410
This study analyzes the relationship between mid-sized blockholders and firm risk. We show that ownership structure matters for firm risk beyond the first largest blockholder. Firms with multiple blockholders take more risk than firms with just one blockholder, even when controlling for the stake...
