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Abdelaati Daouia, Gilles Stupfler et Antoine Usseglio-Carleve
n° 22-1324, mars 2022, révision 29 août 2023
Nonparametric inference on tail conditional quantiles and their least squares analogs, expectiles, remains limited to i.i.d. data. Expectiles are themselves quan- tiles of a transformation of the underlying distribution. We develop a fully operational kernel-based inferential theory for extreme...
Yuzuru Kumon
n° 22-138, mars 2022
Despite its sophistication, Early Modern Japan, 1600-1868, had among the lowest real wage levels ever recorded, half of those in pre-industrial England. This paper resolves this puzzle by considering the more equal landownership distribution in Japan relative to Europe. Due to institutional...
Johannes Hörner et Anna Sanktjohanser
n° 22-1327, mars 2022
We consider a repeated game, in which due to private information and a lack of flexible transfers, cooperation cannot be sustained efficiently. In each round, the buyer either buys from the seller or takes an outside option. The fluctuating outside option may be public or private information. When...
Claude Crampes et Nils-Henrik Von Der Fehr
n° 22-1315, mars 2022
Reaping the full benefits from cross-border interconnection typically requires reinforcement of national networks. When the relevant parts of the networks are complements, a lack of coordination between national transmission system operators typically results in investment below optimal levels in...
Michele Polo et Patrick Rey
n° 22-1316, mars 2022, révision octobre 2024
This paper analyses the impact on antitrust enforcement of commitments, a tool introduced in Europe by the Modernization reform of 2003, and intensively used since then by the European Commission and by National Competition Agencies. We consider a setting where a firm can adopt a costly practice...
Renato Gomes et Andrea Mantovani
n° 22-1325, mars 2022
Online intermediaries greatly expand consumer information, but also raise sellers’ marginal costs by charging high commissions. To prevent disintermediation, some platforms adopted price parity and anti-steering provisions, which restrict sellers’ ability to use alternative sales channels. Whether...
Marijn Keijzer et Michael Mas
vol. 5, n° 1, mars 2022, p. 1–28
There is public and scholarly debate about the effects of personalized recommender systems implemented in online social networks, online markets, and search engines. Some have warned that personalization algorithms reduce the diversity of information diets which confirms users’ previously held...
Ingela Alger et Jean-François Laslier
vol. 34, n° 2, mars 2022
This paper revisits two classical problems in the theory of voting—viz. the divided majority problem and the strategic revelation of information—in the light of evolutionarily founded partial Kantian morality. It is shown that, compared to electorates consisting of purely self-interested voters,...
Renato Gomes, Jean-Marie Lozachmeur et Lucas Maestri
n° 22-1326, mars 2022
We study oligopolistic competition by firms practicing second-degree price discrimination. In line with the literature on demand estimation, our theory allows for comovements between consumers’ taste for quality and propensity to switch brands. If low-type consumers are sufficiently less (more) brand...
Frédéric Koessler, Marie Laclau, Jérôme Renault et Tristan Tomala
n° 22-1321, mars 2022
This paper studies zero-sum splitting games with finite sets of states. Players dynamically choose a pair of martingales {pt,qt}t, in order to control a terminal payoff u(p∞,q∞). A firstpartintroduces the notion of “Mertens-Zamir transform” of a real-valued matrix and use it to approximate the...
