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Francesca De Petrillo et Alexandra Rosati
vol. 376, n° 1819, mars 2021
Uncertainty is a ubiquitous component of human economic behaviour, yet people can vary in their preferences for risk across populations, individuals and different points in time. As uncertainty also characterizes many aspects of animal decision-making, comparative research can help evaluate...
Nicolas Treich et Yuting Yang
vol. 106, n° 102421, mars 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...
Aditya Goenka, Lin Liu et Manh-Hung Nguyen
vol. 93, n° 102476, mars 2021
This paper studies an optimal growth model where there is an infectious disease with SIR dynamics which can lead to mortality. Health expenditures (alternatively intensity of lockdowns) can be made to reduce infectivity of the disease. We study implications of two different ways to model the...
Simon Columbus, Catherine Molho, Francesca Righetti et Daniel Balliet
vol. 120, n° 3, mars 2021, p. 626–650
Philosophers and scientists have long debated the nature of human social interactions and the prevalence of mutual dependence, conflict of interests, and power asymmetry in social situations. Yet, there is surprisingly little empirical work documenting the patterns of interdependence that people...
Sofia B. Villas-Boas, Céline Bonnet et James Hilger
vol. 103, n° 2, mars 2021, p. 663–681
By conducting a field experiment, we investigate whether consumers value expert opinion labels on wine as a form of reducing asymmetric information about product quality. We use two types of data. First, we use a macro-level monthly-product-store dataset, collected before and after our field...
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...
Tiziana Assenza, Alberto Cardaci et Dominico Delli Gatti
n° 19-1055, février 2021, révision février 2021
Existing evidence suggests that individuals frequently misperceive the value of their wealth. We test the existence, and estimate sign and magnitude, of an inaccurate perception of individual net worth. By conducting a laboratory experiment, we find that most subjects perceive a given net worth as...
Ingela Alger, Konrad Dierks et Jean-François Laslier
n° 21-122, février 2021, révision mai 2026
Why would voters incur costs to cast votes they believe are inconsequential? We show that a form of universalization ethics can help explain this “paradox of costly voting“. The political model has two candidates, a continuum of voters, a known underdog, and two novel elements: core voters (who...
Helmuth Cremer et Chiara Canta
Toronto, vol. 54, n° 1, février 2021, p. 259–283
Laurent Miclo et Pierre Patie
vol. 280, n° 3, février 2021, 54 pages
Interweaving relations are introduced and studied here in a general Markovian setting as a strengthening of usual intertwining relations between semigroups, obtained by adding a randomized delay feature. They provide a new classification scheme of the set of Markovian semigroups which enables to...
