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Milo Bianchi, Matthieu Bouvard, Renato Gomes, Andrew Rhodes et Vatsala Shreeti
n° 21-1279, décembre 2021, révision novembre 2023
We connect various streams of academic literature to shed light on how the degree of interoperability in mobile payments affects market outcomes and welfare. We organize our discussion around four dimensions of interoperability. First, we consider mobile network interoperability (whether clients of...
Alexandre de Cornière et Greg Taylor
vol. 131, n° 640, 2021, p. 3122–3144
Mariassunta Giannetti ( Stockholm School of Economics)
TSE, Toulouse, 2021
an market discipline affect corporate environmental and social (E&S) policies? Using international data on corporate E&S news, we show that negative coverage of firms’ E&S policies affects negatively E&S-conscious investors’ demand for stocks. As a consequence, firms with more E...
Emma Riley (University of Washington)
Mobile banking services have the potential to transform access to banking, by allowing individuals to access far away bank accounts from their mobile phones. However, adoption of these services frequently remains low, especially amongst rural populations, who have the most to gain from them but...
Bence Bago, Leah Rosenzweig, Adam Berinsky et David Rand
n° 21-127, décembre 2021
Misinformation is a serious concern for societies across the globe. To design effective interventions to combat the belief in and spread of misinformation, we must understand which psychological processes influence susceptibility to misinformation. This paper tests the widely assumed -- but largely...
Tiziana Assenza
n° 21-1280, décembre 2021, révision mars 2022
Employing a representative US online panel, we document strong imprecision in people’s beliefs about their ability to assess the accuracy of news headlines. With a randomized information experiment, we show that revelation of the true abil- ity causally adjusts beliefs and improves their precision...
Jean Tirole (Toulouse School of Economics)
Daniel F. Garrett, Renato Gomes et Lucas Maestri
n° 21-1282, décembre 2021
We study competition by firms that simultaneously post (potentially nonlinear) tariffs to consumers who are privately informed about their tastes. Market power stems from informational frictions, in that consumers are heterogeneously informed about firms’ offers. In the absence of regulation, all...
Catia Batista (Nova School of Business and Economics)
Caterina Mendicino (European Central Bank)
We examine optimal capital requirements in a quantitative general equilibrium model with banks exposed to non-diversifiable borrower default risk. Contrary to standard models of bank default risk, our framework captures the limited upside but significant downside risk of loan portfolio returns (...
