Recherche avancée

Sebastian Thieme

vol. 46, n° 4, novembre 2021, p. 855–888

Tests of legislative gatekeeping theories have been hampered by the absence of status quo estimates, making these tests vulnerable to selection bias. I overcome this problem with a novel data set on positions by private interests in Iowa, Nebraska, and Wisconsin because these states’ legislatures...

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...

David Bardey, Samuel Kembou Nzalé et Bruno Ventelou

vol. 191(C), novembre 2021, p. 472–500

We study physicians’ incentives to use personalised medicine techniques, replicating the physician’s trade-offs under the option of personalised medicine information. In a laboratory experiment conducted in two French Universities, prospective physicians played a real-effort game. We vary both the...

Emmanuelle Auriol et Hillel Rapoport

n° 67, novembre 2021

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...

Ayden Higgins et Koen Jochmans

n° 21-1272, 23 novembre 2021, révision janvier 2023

This paper provides new identification results for finite mixtures of Markov processes. Our arguments are constructive and show that identification can be achieved from knowledge of the cross-sectional distribution of three (or more) effective time-series observations under simple conditions. Our...

Koen Jochmans et Vincenzo Verardi

n° 21-1271, 19 novembre 2021

This paper introduces instrumental-variable estimators for exponential-regression models that feature two-way fixed effects. These techniques allow us to develop a theory-consistent approach to the estimation of cross-sectional gravity equations that can accommodate the endogeneity of policy...

Koen Jochmans

n° 21-1270, 10 novembre 2021

Identification of peer effects is complicated by the fact that the individuals under study may self-select their peers. Random assignment to peer groups has proven useful to sidestep such a concern. In the absence of a formal randomization mechanism it needs to be argued that assignment is `as good...

Linqun Liu et Nicolas Treich

octobre 2021

This paper studies the role of risk attitudes in determining the optimality of winner-take-all contests. We compare the typical singlewinner lottery contest with two alternatives, both spreading the rewards to more players: through holding multiple prize-giving lottery competitions or through...

Yeon-Koo Che, Elisabetta Iossa et Patrick Rey

vol. 88, n° 5, octobre 2021, p. 2149–2178

Procuring an innovation involves motivating a research effort to generate a new idea and then implementing that idea efficiently. If research efforts are unveriable and implementation costs are private information, a trade-off arises between the two objectives. The optimal mechanism resolves the...