Jump to navigation
Takuro Yamashita et Takeshi Murooka
septembre 2022
We consider an adverse selection environment between an informed seller and an uninformed buyer, where no trade occurs when all buyers are the standard Bayesian-rational type. The buyer may be a “behavioral” type in that he may take actions different from the rational type. We show that, for any...
Manvir Singh
n° 31, septembre 2022, p. 266–280
Why is culture the way it is? Here I argue that a major force shaping culture is subjective (cultural) selection, or the selective retention of cultural variants that people subjectively perceive as satisfying their goals. I show that people evaluate behaviors and beliefs according to how useful...
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...
Charlotte Cavaillé et Karine Van Der Straeten
n° 22-1358, septembre 2022
Research shows that opposition to policies that redistribute across racial divides has affected the development of the American welfare state. Are similar dynamics at play in Western Europe? For many scholars, the answer is yes. In contrast, we argue that researchers’ understanding of the political...
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...
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 (...
Doh-Shin Jeon, Yassine Lefouili et Leonardo Madio
n° 22-1361, septembre 2022, révision novembre 2025
We study a platform's incentives to delist IP-infringing products and the effects of holding the platform liable for the presence of such products on innovation and consumer welfare. For a given number of buyers, platform liability increases innovation by reducing the competitive pressure faced by...
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...
Michele Bisceglia, Jorge Padilla, Salvatore Piccolo et Shiva Shekhar
vol. 60, n° 100981, septembre 2022
We study the competitive effects of a vertical merger in a digital industry where an integrated incumbent (closed ecosystem) competes with an open ecosystem formed by an upstream supplier (ecosystem gatekeeper) and two downstream retailers selling differentiated products. Absent innovation, the...
Douadia Bougherara, Lana Friesen et Céline Nauges
vol. 201, septembre 2022, p. 83–104
We study the interaction between risk-taking and skewness-seeking behavior among a demographically diverse sample of French adults using an experiment that elicits certainty equivalent over lotteries that vary the second and third moments orthogonally. We find that the most common behavior is risk...
