Recherche avancée

Tiziano De Angelis, Fabien Gensbittel et Stéphane Villeneuve

vol. 46, n° 1, février 2021, p. 28–60

This paper studies a 2-players zero-sum Dynkin game arising from pricing an option on an asset whose rate of return is unknown to both players. Using filtering techniques we first reduce the problem to a zero-sum Dynkin game on a bi-dimensional diffusion (X; Y ). Then we characterize the existence...

Jieying Hong et Sébastien Pouget

février 2021

This paper studies the role of preopening periods in liquidity formation and welfare in financial markets. Because no transaction occurs during these preopening periods, their economic significance could be questioned. We model a market where costly participation and asymmetric information prevent...

Nicolas Treich et Yuting Yang

n° 21-1188, février 2021

Standard benefit-cost analysis often ignores distortions caused by taxation and the heterogeneity of taxpayers. In this paper, we theoretically and numerically explore the effect of imperfect taxation on the public provision of mortality risk reductions (or public safety). We show that this effect...

Doh-Shin Jeon et Jay Pil Choi

vol. 13, n° 1, février 2021, p. 283–337

Partly motivated by the recent antitrust investigations concerning Google, we develop a leverage theory of tying in two-sided markets. We analyze incentives for a monopolist to tie its monopolized product with another product in a two-sided market. Tying provides a mechanism to circumvent the non-...

Michael Eber, Cass Sunstein, James K. Hammitt et Jennifer Yeh

vol. 62, n° 8, février 2021, p. 1–26

As health care becomes increasingly personalized to the needs and values of individual patients, informational interventions that aim to inform and debias consumer decision-making are likely to become important tools. In a randomized controlled experiment, we explore the effects of providing...

Nicolas Treich

n° 21-1197, février 2021

Cultured meat involves producing meat from animal cells, not from slaughtered animals. This innovation has the potential to revolutionize the meat industry, with wide implications for the environment, health and animal welfare. The main purpose of this paper is to stimulate some economic research...

Helmuth Cremer et Chiara Canta

Toronto, vol. 54, n° 1, février 2021, p. 259–283

Abhit Bhandari

février 2021

Economic growth requires confidence in the state's ability to enforce secure exchange. But when states selectively enforce rule of law, political considerations can moderate the trust that buyers have in sellers. I argue that political connections produce moral hazard in exchange because they...

Christophe J. Rowan, Michael A. Eskander, Edmond Seabright, Daniel Eid Rodriguez, Edhitt Cortez Linares, Raul Quispe Gutierrez, Daniel Cummings, Adrian Juan Copajira, Bret A. Beheim, Tolstrup Kirsten, Achrekar Abinash, Michael I. Miyamoto, Thomas S. Kraft, David E. Michalik, Adel H. Allam, L. Samuel Wann, Jagat Narula, Benjamin C. Trumble, Jonathan Stieglitz, Gregory Thomas, Randall C. Thompson, Hillard Kaplan et Michael Gurven

vol. 87, n° 1, février 2021, p. 18

Background: Atrial fibrillation is the most common arrhythmia in post-industrialized populations. Older age, hypertension, obesity, chronic inflammation, and diabetes are significant atrial fibrillation risk factors, suggesting that modern urban environments may promote atrial fibrillation....

Tiziana Assenza, Alberto Cardaci et Dominico Delli Gatti

n° 19-1055, février 2021, révision février 2021

Existing evidence suggests that individuals frequently misperceive the value of their wealth. We test the existence, and estimate sign and magnitude, of an inaccurate perception of individual net worth. By conducting a laboratory experiment, we find that most subjects perceive a given net worth as...