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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...
Jérôme Bolte et Edouard Pauwels
n° 21-1184, janvier 2021
Automatic differentiation, as implemented today, does not have a simple mathematical model adapted to the needs of modern machine learning. In this work we articulate the relationships between differentiation of programs as implemented in practice and differentiation of nonsmooth functions. To this...
Alexandre Gaillard et Sumudu Kankanamge
n° 21-1187, janvier 2021
We evaluate the effects of unemployment insurance variations in a general equilibrium occupational choice model of entrepreneurship. We establish that the occupational flow from unemployment to entrepreneurship is remarkably sensitive to unemployment insurance generosity, corroborating our...
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...
Tiziana Assenza, P. Heemeijer, C.H. Hommes et D. Massaro
vol. 17, janvier 2021, p. 170–186
The New Keynesian theory of inflation determination is tested in this paper by means of laboratory experiments. We find that the Taylor principle is a necessary condition to ensure convergence to the inflation target, but it is not sufficient. Using a behavioral model of expectation formation, we...
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...
Mila Bertolo, Manvir Singh et Samuel Mehr
vol. 118, n° e2015664118, janvier 2021
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...
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...
Christian Gouriéroux et Alain Monfort
vol. 17, janvier 2021, p. 1–22
