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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...
Marcel Boyer
vol. 48, n° 1, mars 2022, p. 1–10
In the assessment of the cost of public funds, there is a pervasive economic fallacy, which is frequently repeated by officials in both the private and public sectors as well as in academia: since the cost of borrowing is higher for a private sector firm than it is for a public sector firm, the...
Catherine Cazals, Thierry Magnac, Frank Rodriguez, Jonathan Pope et Soterios Soteri
sous la direction de Pier Luigi Parcu, Timothy J. Brennan et Victor Glass, Springer Nature Switzerland AG, mars 2022
Robin Harding, Mounu Prem, Nelson A. Ruiz et David L. Vargas
n° 22-136, mars 2022
While existing work has demonstrated that campaign donations can buy access to benets such as favorable legislation and preferential contracting, we highlight another use of campaign contributions: buying reductions in regulatory enforcement. Specically, we argue that in return for campaign...
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...
Anne Ruiz-Gazen, Christine Thomas-Agnan, Thibault Laurent et Camille Mondon
n° 22-1320, mars 2022
Invariant Coordinate Selection (ICS) is a multivariate statistical method introduced by Tyler et al. (2009) and based on the simultaneous diagonalization of two scatter matrices. A model based approach of ICS, called Invariant Coordinate Analysis, has already been adapted for compositional data in...
Marc Ivaldi et Walter Nunez
n° 22-1317, mars 2022, révision juillet 2024
Based on bike-sharing systems (BSS) data in Toulouse and Lyon, this study examines the impact of COVID-19 on relevant variables to BSS usage. Our findings indicate significant changes in longer travel distances, which would be explained by users who use the BSS at peak hours. Also, there is...
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...
Klaus Nordhausen et Anne Ruiz-Gazen
vol. 188, n° 104844, mars 2022
Scatter matrices generalize the covariance matrix and are useful in many multivariate data analysis methods, including well-known principal component analysis (PCA), which is based on the diagonalization of the covariance matrix. The simultaneous diagonalization of two or more scatter matrices goes...
Koen Jochmans
vol. 212, n° 110318, mars 2022
This note looks at the properties of instrumental-variable estimators of models for non-negative outcomes in the presence of individual effects. We show that fixed-effect versions of the estimators of Mullahy (1997) and Windmeijer and Santos Silva (1997) are inconsistent under conventional...
