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Emmanuelle Auriol, Jean-Philippe Platteau et Thierry Verdier
n° 22-1381, novembre 2022
This paper elucidates the willingness of an autocrat to push through institutional reforms in a context where traditional authorities represented by religious clerics are averse to them and where the military control the means of repression and can potentially stage a coup. We show that...
Yinghua He et Thierry Magnac
vol. 132, n° 648, novembre 2022, p. 2918–2950
A matching market often requires recruiting agents, or ‘programmes’, to costly screen ‘applicants’, and congestion increases with the number of applicants to be screened. We investigate the role of application costs: higher costs reduce congestion by discouraging applicants from applying to certain...
Leopoldo Fergusson, Horacio Larreguy et Juan Felipe Riano
vol. 132, n° 648, novembre 2022, révision 10 juin 2026, p. 2815–2834
We develop a model of the politics of state capacity building undertaken by incumbent parties that have a comparative advantage in clientelism rather than in public goods provision. The model predicts that, when challenged by opponents, clientelistic incumbents have the incentive to prevent...
Manh-Hung Nguyen, Chon Van Le et Scott Atkinson
vol. 24, n° 4, novembre 2022
The paper investigates the production inefficiency of the US electricity industry in the wake of restructuring and emission reduction regulations.
Christian Gouriéroux, Alain Monfort et Jean-Paul Renne
vol. 144, n° 104502, novembre 2022
One of the objectives of the recent microprudential regulation is to separate the computation of required capital for short-run and long-run risks. This paper provides a coherent framework to define, compute, and update these components. The approach is developed in greater details in the context...
Zoe Purcell et Jean-François Bonnefon
n° 22-1387, novembre 2022
Artificial Intelligence (AI) can be harnessed to create sophisticated social and moral scoring systems —enabling people and organizations to form judgements of others at scale. However, it also poses significant ethical challenges and is, subsequently, the subject of wide debate. As these...
Eugenia Gonzalez-Aguado
n° 22-1379, novembre 2022
There has been a growing concern about the vulnerability of emerging countries to fluc-tuations in international interest rates. Empirical evidence shows that these countries suffer significant output drops when developed countries raise their interest rates. In this paper, I document that an...
Pierre Dubois, Paul-Henri Moisson et Jean Tirole
n° 22-1377, novembre 2022, révision décembre 2022
Faced with a scarcity of treatments for neglected diseases, experts and governmental organizations have lately proposed to build strong pull incentives around transferable vouchers. Inventors would be granted, and allowed to sell these vouchers to pharmas desiring to extend their exclusive IP...
Matthieu Bouvard, Catherine Casamatta et Rui Xiong
n° 22-1386, novembre 2022
We show that by lending to merchants and monitoring them, an e-commerce platform can price-discriminate between merchants with high and low financial constraints: the platform offers credit priced below market rates and designed to select merchants with lower capital or collateral while...
Péter Bayer, Joel Brown, Johan Dubbeldam et Mark Broom
vol. 551-552, n° 111237, novembre 2022
This paper develops and analyzes a Markov chain model for the treatment of cancer. Cancer therapy is modeled as the patient’s Markov Decision Problem, with the objective of maximizing the patient’s discounted expected quality of life years. Patients make decisions on the duration of therapy based...
