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Abdelaati Daouia et Davy Paindaveine
n° 19-1022, juillet 2019, révision février 2023
Despite the importance of expectiles in fields such as econometrics, risk management, and extreme value theory, expectile regression unfortunately so far remains limited to single-output problems. To improve on this, we define hyperplane-valued multivariate expectiles that show strong advantages...
Bruno Jullien et In-Uck Park
n° 19-1027, juillet 2019, révision avril 2020
We show that experience good sellers facing myopic buyers can solve the inherent moral hazard problem by communicating their observation of quality before trade, provided that communication is part of their public track record. Such cheap-talk communication, if trusted, allows market prices to...
Matheus Bueno et Marica Valente
vol. 96, juillet 2019, p. 274–285
To internalize pollution externalities into household waste generation, Unit Pricing Systems (UPS) have been adopted worldwide. This paper evaluates the causal effects of a UPS on the disposal of municipal solid waste in Trento, Italy. Using a unique panel dataset of monthly waste generation in...
Lisa A. Robinson, William Raich, James K. Hammitt et L. O’Keeffe
vol. 10, n° 2, juillet 2019, p. 156–177
In benefit-cost analysis, fatality risk reductions are usually valued based on estimates of adults’ willingness to pay for changes in their own risks, regardless of whether the risk reduction accrues to adults or children. This approach reflects the relatively large number of valuation studies that...
Vittoria Cerasi, Barbara Chizzolini et Marc Ivaldi
vol. 48, n° 2, juillet 2019, p. 1–27
We propose a new test to evaluate the impact of horizontal mergers on competition in the banking industry. The test is designed to be applied ex ante to potential mergers while being parsimonious in terms of data, as it only uses information on branches in local markets. The test is a...
Ujjayant Chakravorty, Marie-Hélène Hubert et Beyza Ural Marchand
vol. 10, n° 3, juillet 2019, p. 1153–1193
More than 40% of US grain is used for energy due to the Renewable Fuels Mandate (RFS). There are no studies of the global distributional consequences of this purely domestic policy. Using micro-level survey data, we trace the effect of the RFS on world food prices and their impact on household...
Quang Le Van, Manh-Hung Nguyen et Thanh-Viet Nguyen
vol. 28, n° 5, juillet 2019, p. 675–687
Facing the challenge of environmental degradation in Vietnam, a growing number of firms have begun to integrate environmental management systems into their business strategies and develop green product diversification strategies. On the basis of the stakeholder theory, this paper attempts to...
Emmanuelle Auriol, Sara Biancini et Rodrigo Paillacar
vol. 65, juillet 2019, p. 51–81
Developing countries' incentives to protect intellectual property rights (IPR) are studied in a model of vertical innovation. Enforcing IPR boosts export opportunities to advanced economies but slows down technological transfers and incentives to invest in R&D. Asymmetric protection of IPR,...
Francesca De Petrillo et Alexandra Rosati
vol. 164, juillet 2019, p. 201–213
Humans and other animals appear to defy many principles of economic ‘rationality’ when making decisions. Here, we use an ecological rationality framework to examine patterns of decision-making across species to illuminate the origins of these strategies. We argue that examples of convergent...
Helia Costa et Linda Veiga
n° 19-1023, juillet 2019
Investment in wind power has grown remarkably in the past decades in Portugal. Although economic development is an argument for investment incentive policies, little evidence exists as to their net impact on local-level unemployment. Using a panel of all 278 Portuguese mainland municipalities for...
