Jump to navigation
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...
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...
Chiara Canta et Helmuth Cremer
n° 2022-1352, août 2022
We study the optimal long-term care policy when informal care can be provided by children in exchange for monetary transfers by their elderly parents. We consider a bargaining model with single-child families. Daughters have a lower labor market wage and a lower bargaining power within the family...
Sabine Noebel, Magdalena Monier, Laura Fargeot, Guillaume Lespagnol, Etienne Danchin et Guillaume Isabel
août 2022
Acceptance and avoidance can be socially transmitted, especially in the case of mate choice. When a Drosophila melanogaster female observes a conspecific female (called demonstrator female) choosing to mate with one of two males, the former female (called observer female) can memorize and copy the...
Christopher Clayton et Andreas Schaab
vol. 137, n° 3, août 2022, p. 1681–1736
We study the scope for international cooperation in macroprudential policies. Multinational banks contribute to and are affected by fire sales in countries they operate in. National governments setting quantity regulations noncooperatively fail to achieve the globally efficient outcome,...
Laurent Miclo, Daniel Spiro et Jörgen W. Weibull
vol. 101, n° 102669, août 2022
How much and when should we limit economic and social activity to ensure that the health-care system is not overwhelmed during an epidemic? We study a setting where ICU resources are constrained and suppression is costly. Providing a fully analytical solution we show that the common wisdom of “...
Ingela Alger
n° 22-144, août 2022, révision décembre 2022
The 50-year old definition of an evolutionarily stable strategy provided a key tool for theorists to model ultimate drivers of behavior in social interactions. For decades economists ignored ultimate drivers and used models in which individuals choose strate-gies based on their preferences. This...
Helmuth Cremer et Catherine Muller-Vibes
n° 2022-1353, août 2022
In the first part, we examine from a theoretical perspective how the cost of the mission of postal transport and delivery of newspapers should be defined and by which factors it is determined. In particular we show that a crucial ingredient in the determination of this cost is the variation in...
Sébastien Gadat et Ioana Gavra
n° 228, août 2022, p. 1–54
This paper studies some asymptotic properties of adaptive algorithms widely used in optimization and machine learning, and among them Adagrad and Rmsprop, which are involved in most of the blackbox deep learning algorithms. Our setup is the non-convex landscape optimization point of view, we...
Eric Arias, Horacio Larreguy, John Marshall et Pablo Querubin
vol. 20, n° 4, août 2022, p. 1433–1477
Effective policy-making requires that voters avoid electing malfeasant politicians. However, as our simple learning model emphasizing voters’ prior beliefs and updating highlights, informing voters of incumbent malfeasance may not entail sanctioning. Specifically, electoral punishment of incumbents...
