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Christophe Gaillac et Eric Gautier
vol. 28, n° 1, février 2022, p. 504–524
We consider a linear model where the coefficients - intercept and slopes - are random and independent from regressors which support is a proper subset. When the slopes do not have heavy tails, the joint density of the random coecients is identied. Lower bounds on the supremum risk for the...
Jean-Paul Décamps et Stéphane Villeneuve
n° 22-1301, février 2022
We study a dynamic model of a rm whose shareholders learn about its profitability, face costs of external nancing and costs of holding cash. The shareholders' problem involves a notoriously challenging singular stochastic control problem with a two-dimensional degenerate diffusion process. We solve...
Pablo Munoz et Mounu Prem
n° 22-131, février 2022
Governments face many constraints in attracting talented managers to the public sector, where high-powered incentives are often absent. In this paper, we study how a civil service reform in Chile changed the effectiveness of a vital group of public sector managers, school principals. We measure...
Laurent Gobillon, Thierry Magnac et Sébastien Roux
n° 22-1299, février 2022
We derive wage equations with individual specic coe¢ cients from a structural model of human capital investments over the life-cycle. This model allows for interruptions in labor market participation, and addresses missing data and attrition issues. We further control for selection in a exible way...
Nicolas Treich
février 2022
As is customary in economics, the Dasgupta Review on the economics of biodiversity adopts an anthropocentric approach: that is, among the millions of species on Earth, the Review accords a moral value to only one species; ours. Building on the literature in ethics, I explain why it is morally...
Emiliano Catonini et Antonio Penta
n° 22-1298, février 2022
Backward Induction is a fundamental concept in game theory. As an algorithm, it can only be used to analyze a very narrow class of games, but its logic is also invoked, albeit informally, in several solution concepts for games with imperfect or incomplete informa-tion (Subgame Perfect Equilibrium,...
Rey Dang, Michel Simioni, Lubica Hikkerova et Jean-Michel Sahut
n° 181, février 2022
This study re-examines the relationship between women on corporate boards (WOCB) and corporate social performance (CSP) for a sample of companies from the Fortune 1000 ranking over the period 2004 to 2018 (ranked from 501 to 1000). To take into account the complex and non-linear relationship as...
Péter Bayer et Ani Guerdjikova
n° 22-1289, janvier 2022
We analyze a model of endogenous two-sided network formation where players are affected by uncertainty in their opponents’ decisions. We model this uncertainty using the notion of equilibrium under ambiguity. Unlike the set of Nash equilibria, the set of equilibria under ambiguity does not always...
Emmanuelle Auriol, Guido Friebel, Alisa Weinberger et Sascha Wilhelm
n° 22-1288, janvier 2022
Based on a data set that we collected from the top research institutions in economics around the globe (including universities, business schools and other or- ganizations such as central banks), we document the underrepresentation of women in economics. For the 238 universities and business schools...
Péter Bayer, György Kozics et Nora Gabriella Szöke
n° 22-1290, janvier 2022
We study public goods games played on networks with possibly non-recip-rocal relationships between players. Examples for this type of interactions include one-sided relationships, mutual but unequal relationships, and par-asitism. It is well known that many simple learning processes converge to a...
