Recherche avancée

Jorge Peña et Georg Nöldeke

n° 23-153, avril 2023

The prisoners’ dilemma, the snowdrift game, and the stag hunt are simple two-player games that are often considered as prototypical examples of cooperative dilemmas across disciplines. However, surprisingly little consensus exists about the precise mathematical meaning of the words “cooperation”...

Jeffrey A. Friedman

vol. 75, n° 2, avril 2023, p. 280–315

This article explains how leaders can use foreign policy issues to shape their personal images. It argues, in particular, that presidents and presidential candidates can use hawkish foreign policies to craft valuable impressions of leadership strength. This dynamic can give leaders incentives to...

Eva Raiber, Weiwei Ren, Jeanne Bovet, Paul Seabright et Charlotte Wang

vol. 71, n° 3, avril 2023

In many societies, parents are involved in selecting a spouse for their child, integrating this with decisions about premarital investment such as education. Do spousal preferences of parents and children conflict? We estimate parents’ spousal preferences based on survey choices between random...

Bruno Biais, Christophe Bisière, Matthieu Bouvard, Catherine Casamatta et Albert J. Menkveld

vol. 78, n° 2, avril 2023, p. 967–1014

We offer an overlapping generations equilibrium model of cryptocurrency pricing and confront it to new data on bitcoin transactional benefits and costs. The model emphasizes that the fundamental value of the cryptocurrency is the stream of net transactional benefits it will provide, which depend on...

Anders Bondemark, Henrik Andersson et Karin Brundell-Freij

vol. 170, n° 103621, avril 2023

In this paper, we study how the distributional preferences of planners and the public diverge in the context of national infrastructure planning. To do so, we surveyed a sample of 323 planners working at the Swedish Transport Administration and 2,108 members of the Swedish public. The most striking...

Jean Tirole

vol. 7, n° 4, avril 2023, p. 171–177

Should agencies confine their role to their main duty or should they embrace new and desirable societal objectives? This article first discusses two emblematic examples of mission expansion: socially responsible competition authorities and green central banks. It then sheds light on the ongoing...

Gesche Huebner, Sylvain Chabé-Ferret, Anouch Missirian, Shanyong Wang, Alejandro Lopez-Feldman, Giovanni Sogari, Zhaohua Wang, Hao Li, Bin Zhang, Bo Wang, Srishti Mediratta et Diana Ivanova

vol. 6, n° 4, avril 2023, p. 329–332

According to the IPCC, changes to our lifestyles and behavior could result in a 40%–70% reduction in greenhouse gas emissions by 2050. However, promoting impactful behavioral shifts through norms, policies, infrastructure, and technology remains challenging. This Voices asks: what must be...

Georges Casamatta

vol. 138, n° 3, avril 2023, p. 195–219

We consider an infinite-horizon economy populated by two types of individuals, some individuals being more productive than others. Individuals live one period and are altruistic toward their children. Assuming that the allocation received by a given individual depends only on his type and the one...

Laurent Miclo

vol. 27, avril 2023, p. 515 – 557

The random mapping construction of strong stationary times is applied here to finite Heisenberg random walks over ℤM, for odd M ⩾ 3. When they correspond to 3 × 3 matrices, the strong stationary times are of order M6, estimate which can be improved to M4 if we are only interested in the convergence...

Michele Bisceglia

vol. 71, n° 1, avril 2023, p. 1–46

Consider a three-tier industry with a monopolist supplying a manufacturer which sells its product to final consumers through two retailers. Contracts are linear and secret. Hence, upon receiving an out-of-equilibrium offer, each retailer must form a belief about the identity of the deviating...