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Anca Voia (Toulouse School of Economics)
Toulouse : TSE, 21 septembre 2020, 11h00–12h15, salle Auditorium 5
Payments for Ecosystem Services (PES) are voluntary agreements between landowners and the Government in which a yearly payment is given conditional on an environmental service being adequately provided. PES contracts are usually subject to information asymmetries that can limit their cost-...
Juan Carlos Escanciano (Universidad Carlos III de Madrid)
Toulouse : TSE, 17 septembre 2020, 11h00–12h15, salle Zoom
One of the most important empirical findings in microeconometrics is the pervasive ness of heterogeneity in economic behaviour (cf. Heckman 2001). This paper shows that distribution functions and quantiles of the nonparametric unobserved heterogeneity have an infinite efficiency bound in many...
Zhijun Chen (Monash University)
TSE & IAST, 16 septembre 2020, 12h30–13h30, Zoom Meeting
Recent years have seen an increasing number of data-driven mergers including the Google-Fitbit merger, in which a dominant digital platform acquires a start-up company in a market for data collection. Combined with its huge capacity of data analytics, the digital platform is able to use consumer...
Paul Milgrom (Stanford University)
Toulouse : TSE, 15 septembre 2020, 18h00–19h30, salle Zoom
In a Vickrey auction, if one bidder can invest to increase his value, the combined mechanism including investments is still fully optimal. By contrast, there exist monotone allocation rules that are arbitrarily close to the the allocative optimum, but such that the associated mechanism with...
Ingrid Van Keilegom (KU Leuven)
TSE, 15 septembre 2020, 15h30–17h00, salle Zoom
When studying survival data in the presence of right censoring, it often happens that a certain proportion of the individuals under study do not experience the event of interest and are considered as cured. The mixture cure model is one of the common models that take this feature into account. It...
Andrew Atkeson (University of California - Los Angeles)
TSE, 15 septembre 2020, 14h00–15h30, salle Zoom
We use a simple random growth model to study the role of changing dynamics of family firms in shaping the evolution of top wealth shares in the United States over the course of the past century. Our model generates a time path for top wealth shares. The path is remarkably similar to those found by...
Elisabeth Kempf (The University of Chicago Booth School of Business)
Toulouse : TSE, 14 septembre 2020, 15h30–17h00, Toulouse, salle Zoom
Kevin Remmy ( Toulouse School of Economics)
TSE, 14 septembre 2020, 14h00–15h30, salle Zoom
How do firms adjust the price and quality of products in response to subsidies and marginal cost changes? Knowing the answer is essential for designing electric vehicle subsidies. I show that the answer to this question is ambiguous in a monopoly model of quality provision. I then build an...
Michael Schwert (The Wharton School - University of Pennsylvania)
du 14 septembre 2020, 14h00 au 14 septembre 2021, 15h00, BDF Paris
We study the performance of collateralized loan obligations (CLOs) to understand the market imperfections giving rise to these vehicles and the corresponding costs. CLO equity tranches earn positive abnormal returns from the risk-adjusted price dif- ferential between leveraged loans and CLO debt...
Jacint Enrich Moya (Toulouse School of Economics)
Toulouse : TSE, 14 septembre 2020, 11h00–12h30, salle Auditorium 6 - (3° floor)
Is agricultural development a prerequisite for structural transformation? In this paper I study the effect of tractor adoption on labor reallocation in France between 1970 and 2000. First, I present a theoretical model capturing adoption decisions, where improvements in tractor power play an...
