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James K. Hammitt et Nicolas Treich
n° 21-1177, janvier 2021
Environmental, transportation, occupational, and other regulations that reduce fatality risk are frequently evaluated using benefit-cost analysis (BCA). We examine how risk reductions are valued under BCA, utilitarian and prioritarian SWFs. The social value of risk reduction (SVRR) to an individual...
Marie Brière, Sébastien Pouget et Loredana Ureche-Rangau
n° 21-1178, janvier 2021
Les investisseurs institutionnels s’engagent-ils dans la question des externalités produites par les entreprises, telles que les émissions de gaz à effet de serre ? Nous étudions le vote dans les assemblées générales des actionnaires de deux investisseurs emblématiques : BlackRock, un gérant de...
Stéphane Villeneuve et Jessica Martin
n° 21-1183, janvier 2021, révision avril 2022
What type of delegation contract should be offered when facing a risk of the magnitude of the pandemic we are currently experiencing and how does the likelihood of an exogenous early termination of the relationship modify the terms of a full-commitment contract? We study these questions by...
Matthieu Bouvard et Adolfo de Motta
n° 21-1179, janvier 2021
This paper studies an economy where demand spillovers make firms’ production decisions strategic complements. Firms choose their operating leverage trading off higher fixed costs for lower variable costs. Operating leverage governs firms’ exposures to an aggregate labor productivity shock. In...
Joanna Morais et Christine Thomas-Agnan
vol. 50, n° 2, janvier 2021, p. 1–15
In the framework of Compositional Data Analysis, vectors carrying relative information, also called compositional vectors, can appear in regression models either as dependent or as explanatory variables. In some situations, they can be on both sides of the regression equation. Measuring the...
Matthew Adler, Maddalena Ferranna, James K. Hammitt et Nicolas Treich
vol. 75, n° 102412, janvier 2021
The social value of risk reduction (SVRR) is the marginal social value of reducing an individual’s fatality risk, as measured by some social welfare function (SWF). This Article investigates SVRR, using a lifetime utility model in which individuals are differentiated by age, lifetime income profile...
Manvir Singh, Ted J. Kaptchuk et Joseph Henrich
vol. 42, n° 1, janvier 2021, p. 61–72
Cognitive and evolutionary research has focused on the powerful deities of large-scale societies, yet little work has examined the smaller gods of animist traditions. In a study of the water spirit Sikameinan of the Mentawai people (Siberut Island, Indonesia), we address three questions: (1) Are...
Florence Lespiau, Astrid Hopfensitz et Gwenaël Kaminski
vol. 82, n° 102335, janvier 2021
Birth order supposedly influences individuals’ cooperative attitudes: firstborns are more family-oriented and favor their kin, while laterborns are more likely to turn to non-kin. However little direct experimental evidence exists concerning costly resource sharing between full siblings. The...
Andrea Mantovani, Claudio Piga et Carlo Reggiani
vol. 131, n° 103625, janvier 2021
Online platforms often impose Price Parity Clauses to prevent sellers from charging lower prices on alternative sales channels. We provide quasi-experimental evidence on the full removal of Price Parity Clauses in France in 2015 for hotels listed on Booking.com. Our analysis reveals significant...
Emmanuelle Auriol, Diego Delissaint, Maleke Fourati, Josepa Miquel-Florensa et Paul Seabright
vol. 29, n° 1, janvier 2021, p. 3–34
Are religious believers more prosocial than other people? In a trust game field experiment with 774 subjects in Haiti, we elicit willingness to pay to play in the presence of religious images, and argue that this can be interpreted as a measure of the strength of religiosity. More religious...
