Recherche avancée

Ingela Alger et Donald Cox

novembre 2019, 32 pages

Luke Glowacki, Samuel Mehr, Manvir Singh, Dean Knox, Daniel Ketter, Daniel Pickens-Jones, S. Atwood, Christopher Lucas, Nori Jacoby, Alena Egner, Erin Hopkins, Rhea Howard, Joshua Hartshorne, Mariela Jennings, Jan Simson, Constance Bainbridge, Steven Pinker, Timothy O'Donnell et Max Krasnow

vol. 366, n° 6468, novembre 2019

Jean-Paul Décamps et Stéphane Villeneuve

n° 19-1046, novembre 2019, révision septembre 2020

We study a dynamic model of a firm whose shareholders learn about its profitability, face costs of external financing and costs of holding cash. The shareholders’ problem involves a notoriously challenging singular stochastic control problem with a two-dimensional degenerate diffusion process. We...

Farid Gasmi et Philip Hanspach

n° 19-1052, novembre 2019

This article proposes a two-country model of electricity trade under peak-load pricing. We apply the model to France and the UK to assess the benefit to the UK of trade within the European internal energy market (IEM). Calibration and simulations of the model aimed at simulating bilateral trade in...

Boris Van Leeuwen et Ingela Alger

n° 19-1056, novembre 2019, révision novembre 2023

Theory suggests that a form of Kantian morality has evolutionary founda- tions. To investigate the relative importance of Kantian morality and social preferences, we run a laboratory experiment on strategic interaction in social dilemmas. We struc- turally estimate social preferences and Kantian...

Cristina Gualdani et Shruti Sinha

n° 19-1049, novembre 2019, révision juin 2020

We study identification of preferences in a single-agent, static, discrete choice model where the decision maker may be imperfectly informed about the utility generated by the available alternatives. We impose no restrictions on the information frictions the decision maker may face and impose weak...

Aleh Tsyvinski et Nicolas Werquin

n° 19-1051, novembre 2019

Economic disruptions (techonological change, trade liberalization, immigration flows) generally create winners and losers, i.e., wage gains for some individuals and wage losses for others. The compensation problem consists of designing a reform of the existing income tax system that offsets the...

David Austen-Smith, Wioletta Dziuda, Bård Harstad et Antoine Loeper

vol. 14, n° 4, novembre 2019, p. 1483–1534

Why do rational politicians choose ine¢ cient policy instruments? Environmental regulation for example, often takes the form of technology standards and quotas even when cost-effective Pigou taxes are available. To shed light on this puzzle, we present a stochastic game with multiple legislative...

Jean-François Bonnefon, Fatimah Ishowo-Oloko, Zakariyah Soroye, Jacob W. Crandall, Iyad Rahwan et Tahal Rahwan

vol. 1, novembre 2019, p. 517–521

Recent advances in artificial intelligence and deep learning have made it possible for bots to pass as humans, as is the case with the recent Google Duplex—an automated voice assistant capable of generating realistic speech that can fool humans into thinking they are talking to another human. Such...

Paul Beaudry, Patrick Fève, Alain Guay et Franck Portier

vol. 34, octobre 2019, p. 221–243

In SVARs, identification of structural shocks can be subject to nonfundamentalness, as the econometrician may have an information set smaller than the economic agents’ one. How serious is that problem from a quantitative point of view? In this paper we propose a simple diagnostic for the...