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Peiyao Ma, Andrea Mantovani, Carlo Reggiani, Annette Broocks et Nestor Duch-Brown
n° 22-1371, septembre 2022
Dominant platforms such as Booking.com and Amazon often impose Price Parity Clauses to prevent sellers from charging lower prices on alternative sales channels. We provide quasi-experimental evidence on the full removal of these price restrictions in France in 2015 for three major international...
James K. Hammitt
n° 22-1359, septembre 2022
Downside risk aversion (downside RA) and decreasing absolute risk aversion (DARA) are different concepts that describe preferences for which the harm from bearing risk is lessened by an increase in wealth. This note presents some intuitive explanations of the difference between the two concepts...
Eduardo Abi Jaber et Stéphane Villeneuve
n° 22-1363, septembre 2022
Can a principal still offer optimal dynamic contracts that are linear in end-of-period outcomes when the agent controls a process that exhibits memory? We provide a positive answer by considering a general Gaussian setting where the output dynamics are not necessarily semi-martingales or Markov...
Olivier Jean Blanchard, Christian Gollier et Jean Tirole
n° 22-1360, septembre 2022
Charlotte Cavaillé et Karine Van Der Straeten
n° 22-145, septembre 2022
Research shows that opposition to policies that redistribute across racial divides has affected the development of the American welfare state. Are similar dynamics at play in Western Europe? For many scholars, the answer is yes. In contrast, we argue that researchers’ understanding of the political...
Anaïs Fabre
n° 22-1362, septembre 2022, révision juillet 2025
This paper studies the Two-Way Fixed Effects (TWFE) estimator in a general setting where multiple groups can enter and exit a binary treatment over time. It establishes necessary and sufficient conditions for this estimator to correspond to a convex combination of Average Treatment Effects (ATEs)....
Tuba Tuncel
n° 22-1383, septembre 2022
After a drug obtains marketing authorization, the usage depends on the regulation of off-label pre-scriptions for unapproved indications. We investigate the impact of off-label prescription regulation on physicians’ behavior, patients’ health, treatment costs, and pharmaceutical firms’ pricing with...
Andrea Attar, Eloisa Campioni et Gwenaël Piaser
n° 22-1364, septembre 2022
We study competing-mechanism games, in which multiple principals contract with multiple agents. We reconsider the issue of non-existence of an equilibrium as first raised by Myerson (1982). In the context of his example, we establish the existence of a perfect Bayesian equilibrium. We clarify that...
Ayden Higgins et Koen Jochmans
n° 22-1366, septembre 2022, révision décembre 2024
We consider the problem of identifying the parameters of a time-homogeneous bivariate Markov chain when only one of the two variables is observable. We show that, subject to conditions that we spell out, the transition kernel and the distribution of the initial condition are uniquely recoverable (...
Malachy James Gavan et Antonio Penta
n° 22-1369, septembre 2022
We introduce Safe Implementation, a notion of implementation that adds to the standard requirements the restriction that deviations from the baseline solution concept induce outcomes that are acceptable. The primitives of Safe Implementation therefore include both a Social Choice Correspondence, as...
