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Jean-Paul Azam
n° 20-1126, juillet 2020, révision septembre 2020
This paper shows that the two oil shocks that occurred in 1974-85 and 2003-15 inflicted sizable damage to total factor productivity (TFP) in France and Germany. These are resource-poor economies whose firms are importing most of their inputs of extractive commodities. The real prices they pay for...
Alban Thomas et Louis-Georges Soler
vol. 101, juillet 2020, p. 91–116
In the scientific literature, the debate on health and environmental benefits of a reduction in the share of animal-sourced food, in particular beef, in consumer diets is mostly focused on demand-side vs. supply transitions. We discuss in this paper the necessary conditions for a win-win scenario...
Andrei Hagiu, Bruno Jullien et Julian Wright
vol. 66, n° 7, juillet 2020, p. 2801–3294
We explore conditions under which a multiproduct firm can profitably turn itself into a platform by "hosting rivals," i.e. by inviting rivals to sell products or services on top of its core product. Hosting eliminates the additional shopping costs to consumers of buying a specialist rival's...
Bård Harstad
vol. 128, n° 7, juillet 2020, p. 2653–2689
A growing body of evidence suggests that individuals have time-inconsistent preferences. Even when they do not, policy makers who fear to loose elections will apply discount rates that decrease in relative time when they consider investment projects. To ináuence future choices, current strategic...
Rida Laraki et Jérôme Renault
vol. 45, n° 4, juin 2020, p. 1237–1257
We consider 2-player zero-sum stochastic games where each player controls his own state variable living in a compact metric space. The terminology comes from gambling problems where the state of a player represents its wealth in a casino. Under standard assumptions (e.g. continuous running payoff...
Jérôme Bolte, Edouard Pauwels et Rodolfo Rios-Zertuche
n° 20-1110, juin 2020
We consider the long-term dynamics of the vanishing stepsize subgradient method in the case when the objective function is neither smooth nor convex. We assume that this function is locally Lipschitz and path differentiable, i.e., admits a chain rule. Our study departs from other works in the sense...
Marc Ivaldi et Jiekai Zhang
n° 20-1112, juin 2020, révision mars 2021
This paper contributes to the analysis of mergers in two-sided markets, notably those in which a platform provides its service for free on one side but obtains all its revenues from the other, as in the digital TV industry. Specifically, we assess a decision of the French competition authority...
Pierre Dubois et Tuba Tuncel
n° 20-1114, juin 2020, révision avril 2021
We investigate how the prescribing behavior of physicians reacts to scientific information and recommendations released by public authorities. Taking the example of antidepressant drugs, we use French panel data on exhaustive prescriptions made by a representative sample of general practitioners to...
Laurent Miclo, Jörgen W. Weibull et Daniel Spiro
n° 20-1111, juin 2020
How much and when should we limit economic and social activity to ensure that the health-care system is not overwhelmed during an epidemic? We study a setting where ICU resources are constrained and suppression is costly. Providing a fully analytical solution we show that the common wisdom of “...
Gabrielle Demange et Karine Van Der Straeten
vol. 174, juin 2020, p. 402–419
This paper proposes an analysis of strategic communication on platforms by candidates during an electoral campaign. A candidate's platform in a (possibly) multidimensional policy space is fixed, but is imperfectly known by voters. A candidate strategically decides the emphasis he puts on the...
