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Christophe Alain Bruneel-Zupanc
n° 21-1186, février 2021
This paper examines the decision problem of a homeowner who maximizes her expected profitfrom the sale of her property when market conditions are uncertain. Using a large dataset of realestate transactions in Pennsylvania between 2011 and 2014, I verify several stylized facts aboutthe...
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...
Ingela Alger, Konrad Dierks et Jean-François Laslier
n° 21-1193, février 2021, révision avril 2025
What drives voters’ decisions to participate in large elections under costly voting, despite the rational expectation that this has no impact on the outcome? We propose a new model of ethical voters, by positing that they have Kantian or semi-Kantian preferences. With such preferences, voters...
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...
n° 21-122, février 2021, révision avril 2024
We analyze the turnout decisions of ethical voters, equipped with (semi-)Kantian preferences: a voter considers the election outcome that would arise if other voters behaved like him. The “others” can be limited to co-partisans (“partisan ethics”) or not (“non-partisan ethics”). In a standard model...
Stefan Ambec et Claude Crampes
vol. 94, n° 105074, février 2021
The presence of consumers able to respond to changes in wholesale electricity prices facilitates the penetration of renewable intermittent sources of energy such as wind or sun power. We investigate how adapting demand to intermittent electricity supply by making consumers price-responsive - thanks...
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...
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...
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-...
Ayşegül Kanay, Denis Hilton, Laetitia Charalambides, Jean-Baptiste Corrégé, Eva Inaudi, Laurent Waroquier et Stéphane Cezera
n° 21-1191, février 2021
We compared the effectiveness of basket goal-setting to product information strategies on sustainable consumption in a simulated online supermarket. Experiment 1 found a significant effect of basket goal setting techniques with carbon basket feedback in either numerical or graphical form on the...
