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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...
James K. Hammitt, Fangli Geng, Xiaoqi Guo et Chris P. Nielsen
vol. 58, n° 2, juin 2019, p. 167–186
We estimate the marginal rate of substitution of income for reduction in current annual mortality risk (the “value per statistical life” or VSL) using stated-preference surveys administered to independent samples of the general population of Chengdu China in 2005 and 2016. We evaluate the quality...
Claude Crampes et Jérôme Renault
vol. 81, juin 2019, p. 465–478
The development of non-dispatchable renewable sources of energy requires more flexible reliable thermal equipment to match residual demand. We analyze the advantages of delaying production decisions to benefit from more precise information on states of the world, at the expense of higher production...
Martin Boyer, Philippe De Donder, Claude Fluet, Marie-Louise Leroux et Pierre-Carl Michaud
vol. 45, n° 2, juin 2019, p. 262–282
Laurent Miclo et Pierre Patie
vol. 2, juin 2019, p. 59–98
En donnant des exemples d’approximation de diffusions linéaires par des processus de vie et de mort, Feller [Fel50] a mis en évidence un lien entre les mondes discrets et continus. En identifiant une relation d’entrelacement entre les processus de carrés de Bessel et certains processus de vie et de...
Andrea Attar, Catherine Casamatta, Arnold Chassagnon et Jean-Paul Décamps
vol. 51, n° 4, juin 2019, p. 977–990
We study a capital market in which multiple lenders sequentially attempt at financing a single borrower under moral hazard. We show that restricting lenders to post take-it-or-leave-it offers involves a severe loss of generality: none of the equilibrium outcomes arising in this scenario survives if...
Andrea Attar, Eloisa Campioni et Gwenaël Piaser
n° 19-1021, juin 2019
We study games in which principals simultaneously post mechanisms in the presence of several agents. We evaluate the role of principals’ communication in these settings. As in Myerson (1982), each principal may generate incomplete information among agents by sending them private signals. We show...
Andrew Rhodes et Jidong Zhou
vol. 65, n° 6, juin 2019, p. 2607–2623
A puzzling feature of many retail markets is the coexistence of large multiproduct firms and smaller firms with narrow product ranges. This paper provides a possible explanation for this puzzle, by studying how consumer search frictions influence the structure of retail markets. In our model single...
Emmanuelle Auriol
vol. 61, n° 2, juin 2019
Pour les économistes, ce sont les institutions, les règles de droit et les contrats qui doivent inciter, voire contraindre, les individus à se comporter de manière responsable. Ils étudient les marchés et leur fonctionnement dans le but de trouver les règles qui permettent de se prémunir des...
Jean-François Bonnefon et Sylvie Borau
juin 2019, p. 45–63
Recent research suggests that women react to idealized female models in advertising as they would react to real-life sexual rivals. Across four studies, we investigate the negative consequences of this imaginary competition on consumers’ mate-guarding jealousy, indirect aggression, and drive for...
