Recherche avancée

Milo Bianchi et Marie Brière

n° 21-1251, septembre 2021, révision mars 2024

We study the introduction of robo-advising on a large set of Employee Saving Plans. Differently from many services that fully automate portfolio decisions, our robo-advisor proposes investment and rebalancing strategies, leaving investors free to follow or ignore them. The resulting human-robot...

Stephanie Assad, Emilio Calvano, Giacomo Calzolari, Robert Clark, Daniel Ershov, Justin Johnson, Sergio Pastorello, Andrew Rhodes, Lei XU, Matthijs Wildenbeest et Vincenzo Denicolò

vol. 37, n° 3, septembre 2021, p. 459–478

Markets are being populated with new generations of pricing algorithms, powered with Artificial Intelligence, that have the ability to autonomously learn to operate. This ability can be both a source of efficiency and cause of concern for the risk that algorithms autonomously and tacitly learn to...

Philippe De Donder et Marie-Louise Leroux

septembre 2021

We study the demand for actuarially fair Long Term Care (LTC hereafter) insurance in a setting where autonomous agents only care for daily life consumption while dependent agents also care for LTC expenditures. We assume that dependency decreases the marginal utility of daily life consumption. We...

Frédéric Cherbonnier, David Salant et Karine Van Der Straeten

n° 21-1254, septembre 2021

An auction of transport capacity can only roll forward if competitive bidders show up at the start. To characterize bidding behavior, we develop a model with a single incumbent potentially in competition with a single challenger; should the challenger obtain slots, the two firms will engage post-...

Péter Bayer, Jean-Jacques Herings et Ronald Peeters

vol. 196, n° 105311, septembre 2021

Farsighted economic agents can use their advantage to exploit their more myopic counterparts. In public goods games played on networks, such an agent will attempt to manipulate as many of his neighbors as possible to contribute to the public good. We study the exploitation of a myopic population by...

Matteo Bobba, Luca Flabbi, Santiago Levy et Mauricio Tejada

vol. 223, n° 2, août 2021, p. 433–453

We develop a search and matching model where rms and workers produce output that depends both on match-specic productivity and worker-specic human capital. The human capital is accumulated while working but depreciates while searching for a job. Jobs can be formal or informal. The model is...

Hillary Fouts, Lauren Bader, Carin L. Neitzel et Daniela Salinas

vol. 30, n° 3, août 2021, p. 713–729

Although the emergence of gender segregation in early childhood is a well‐established pattern in formal settings (i.e., group childcare, preschool) from research predominantly in North America, little is known about the gender segregation among young children in Sub‐Saharan Africa, especially in...

Marie-Laure Allain, Claire Chambolle, Patrick Rey et Sabrina Teyssier

vol. 137, août 2021

In a vertical chain in which two rivals invest before contracting with one of two competing suppliers, partial vertical integration may create hold-up problems for the rival. We develop an experiment to test this theoretical prediction in two setups, in which suppliers can either pre-commit ex ante...

Kathryn Schwartz et Omar Youssef Cheta

vol. 252, n° 1, août 2021, p. 179–211

In 1871, an Italian-Jewish printer published a peculiar Arabic treatise from Cairo. It promoted strengthening legal pluralism in Khedival Egypt by realigning laws there to accord with those of the Ottoman Empire and European states. Composed by the printer’s legal team, the treatise questioned how...

Marcel Boyer

n° 21-1190, août 2021

Several voices are rising to demand an in-depth reform of capitalism in the wake of the financial crisis of 2007-2010, the increase in income and wealth inequalities of the last four decades, the climate urgency in a local global world. There is a real danger that governments will be put under...