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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...
Marc Ivaldi et Jiekai Zhang
vol. 70, n° 3, septembre 2022, p. 591–630
This paper contributes to the analysis of mergers in two-sided markets, notably those in which a platform provides its service for free on one side but obtains all its revenues from the other, as in the digital TV industry. Specifically, we assess a decision of the French competition authority...
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...
Thibault Laurent, Paula Margaretic et Christine Thomas-Agnan
n° 22-1357, septembre 2022, révision février 2023
We extend the impact decomposition proposed by LeSage and Thomas-Agnan (2015) in the spatial interaction model to a more general framework, where the sets of origins and destinations can be different, and where the relevant attributes characterizing the origins do not coincide with those of the...
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...
Marcel Boyer
vol. 35, n° 1, septembre 2022, p. 134–163
Prosecution of the retail gasoline price-fixing cartel in Quebec was the culmination of the largest and one of the most successful criminal investigations in the history of the Competition Bureau of Canada. In June 2008, criminal charges were brought against a number of individuals and companies...
Milo Bianchi, Rose-Anne Dana et Elyès Jouini
vol. 74, septembre 2022, p. 505–546
Consider a firm owned by shareholders with heterogeneous beliefs and run by a manager who chooses random production plans. Shareholders do not observe the chosen plan but only its realization. The financial market consists of assets contingent on production realizations. A contract for the manager...
Manvir Singh et Luke Glowacki
vol. 43, septembre 2022, p. 418–431
Many researchers assume that until 10–12,000 years ago, humans lived in small, mobile, relatively egalitarian bands. This “nomadic-egalitarian model” suffuses the social sciences. It informs evolutionary explanations of behavior and our understanding of how contemporary societies differ from those...
