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Enrick Arnaud-Joufray (Telecom-ParisTech)
Online Event, 18–19 mai 2021
Zheng Gong (University of Toronto)
Jana Gieselmann (University of Düsseldorf)
Vatsala Shreeti (Toulouse School of Economics)
Milo Bianchi, Rose-Anne Dana et Elyès Jouini
n° 21-1253, avril 2021
Consider a rm 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 nancial market consists of assets contingent on production realizations. A contract for the manager...
Catherine Bobtcheff, Raphaël Lévy et Thomas Mariotti
n° 21-1202, avril 2021, révision février 2025
Firms receiving independent signals on a common-value risky project compete to be the first to invest. When firms are symmetric and competition is winner-take-all, rents are fully dissipated in equilibrium and the extent to which signals are publicly disclosed is irrelevant for welfare. When...
James K. Hammitt
vol. 12, n° 1, avril 2021, p. 64 – 84
Benefit–cost analysis (BCA) is often viewed as measuring the efficiency of a policy independent of the distribution of its consequences. The role of distributional effects on policy choice is disputed; either: (a) the policy that maximizes net benefits should be selected and distributional concerns...
Romain Espinosa et Nicolas Treich
vol. 56, avril 2021, p. 531–548
While antispeciesism is an ethical notion, veganism is behavioral. In this paper, we examine the links between the two. Building on Blackorby and Donaldson (1992), we consider a two-species model in which humans consume animals. The level of antispeciesism is conceived as the weight on animals'...
Emmanuelle Auriol
sous la direction de David V. Mc Queen, avril 2021, Oxford University Press
Regulating quality is challenging because in public utilities such as water and sanitation, quality is multidimensional, is not always objectively measurable, and can be hard to verify, both ex ante and ex post. It is therefore useful to review the main insights from the New Economics of Regulation...
Mauricio González-Forero et Jorge Peña
vol. 288, n° 1949, avril 2021
Eusociality, where largely unreproductive offspring help their mothers reproduce, is a major form of social organization. An increasingly documented feature of eusociality is that mothers induce their offspring to help by means of hormones, pheromones or behavioural displays, with evidence often...
