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Christian Bontemps, Kevin Remmy et Jiangyu Wei
n° 21-1258, novembre 2021
In this paper, we estimate a structural model of the domestic US airline market to analyze the effect of the recent merger between American Airlines and US Airways. Our results show that, between 2011 and 2016, a substantial fuel price drop in conjunction with changes in consumer preferences toward...
Mariann Ollar et Antonio Penta
n° 21-1262, novembre 2021
Estelle Medous, Camelia Goga, Anne Ruiz-Gazen, Jean-François Beaumont, Alain Dessertaine et Pauline Puech
n° 21-1269, novembre 2021, révision juin 2022
In social and economic surveys, it can be difficult to directly reach units of the target population, and indirect sampling is often advocated to solve this issue. In indirect sampling, the sample is drawn from a frame population that is linked to the target population, and estimation of tar-get...
Bruno Biais, Florian Heider et Marie Hoerova
vol. 88, n° 6, novembre 2021, p. 2654–2686
In order to share risk, protection buyers trade derivatives with protection sellers. Protection sellers’ actions affect the riskiness of their assets, which can create counterparty risk. Because these actions are unobservable, moral hazard limits risk sharing. To mitigate this problem, privately...
Darius-Aurel Frank, Christian T. Elbaek, Caroline Kjaer Borsting, Panagiotis Mitkidis, Tobias Otterbring et Sylvie Borau
vol. 16, n° 11 (e0259928), novembre 2021
The COVID-19 pandemic continues to impact people worldwide–steadily depleting scarce resources in healthcare. Medical Artificial Intelligence (AI) promises a much-needed relief but only if the technology gets adopted at scale. The present research investigates people’s intention to adopt medical AI...
Aksel Erbahar et Vincent Rebeyrol
n° 21-1265, novembre 2021, révision septembre 2022
This paper shows that manufacturing exporters export goods that they have not produced and thus also act as trade intermediaries. The geographical dimension of the data reveals that almost half of these exports of “sourced” products are purely intermediated: to many destinations, firms export...
Francesca Barigozzi et Helmuth Cremer
n° 21-1257, novembre 2021
We study how workers’ concern for coworkers’ ability (CfCA) affects competition in the labor market. We consider two firms offering nonlinear contracts to a unit mass of prospective workers. Firms may differ in their marginal productivity, while workers are heterogeneous in their ability (high or...
Emmanuel Farhi et Jean Tirole
vol. 88, n° 6, novembre 2021, p. 2622–2653
Traditional banking is built on four pillars: SME lending, insured deposit taking, access to lender of last resort, and prudential supervision. This paper unveils the logic of the quadrilogy by showing that it emerges naturally as an equilibrium outcome in a game between banks and the government. A...
Margot Dazey
novembre 2021
Anti-Muslim hostility in Europe operates in a variety of forms and settings. While a rich body of work has highlighted the multifaceted stigmatization of Islam in European societies, little is known on how Muslims respond to it. Based on an ethnographic case study of a group of French Muslim...
Francesco Decarolis, Maris Goldmanis, Antonio Penta et Ksenia Shakhgildyan
n° 21-1273, novembre 2021
Bid delegation to specialized intermediaries is common in the auction systems used to sell internet advertising. When the same intermediary concentrates the demand for ad space from competing advertisers, its incentive to coordinate client bids might alter the functioning of the auctions. This...
