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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...
Bruno Biais, Christophe Bisière, Matthieu Bouvard et Catherine Casamatta
vol. 32, n° 5, mai 2019, p. 1662–1715
Blockchains are distributed ledgers, operated within peer-to-peer networks. We model the proof-of-work blockchain protocol as a stochastic game and analyze the equilibrium strategies of rational, strategic miners. Mining the longest chain is a Markov perfect equilibrium, without forking, in line...
Jay Pil Choi, Doh-Shin Jeon et Byung-Cheol Kim
vol. 173, mai 2019, p. 113–124
We provide a theoretical model of privacy in which data collection requires consumers’ consent and consumers are fully aware of the consequences of such consent. Nonetheless, excessive collection of personal information arises in the monopoly market equilibrium which results in excessive loss of...
Maxime Derex, Jean-François Bonnefon, Robert Boyd et Alex Mesoudi
vol. 3, mai 2019, p. 446–452
Bows and arrows, houses and kayaks are just a few examples of the highly optimized tools that humans have produced and used to colonize new environments1,2. Because there is much evidence that humans’ cognitive abilities are unparalleled3,4, many believe that such technologies resulted from our...
Marcel Boyer
mai 2019
Andrea Attar, Thomas Mariotti et François Salanié
vol. 7, n° 1, mai 2019, p. 37–57
We construct a complete space of smooth strictly convex preferences defined over commodities and monetary transfers. Our model extends the classical one in that preferences are strictly monotone in monetary transfers, but need not be monotone in all commodities. We thereby provide a natural...
Nicolas Astier et Xavier Lambin
vol. 40, n° 3, mai 2019
This paper studies wholesale electricity markets where an exogenous price cap is enforced, compromising both short- and long-term incentives. To guarantee capacity adequacy, policy-makers may provide support for generation through a capacity remuneration mechanism (CRM) and/or encourage demand...
Daniel Kenna, Ilaria Pretelli, Ana Ramos Rodrigues, Hazel Cooley et Richard J. Gill
vol. 9, n° 10, mai 2019, p. 5637–5650
The emergence of agricultural land use change creates a number of challenges that insect pollinators, such as eusocial bees, must overcome. Resultant fragmentation and loss of suitable foraging habitats, combined with pesticide exposure, may increase demands on foraging, specifically the ability to...
Theodora Fuss, Sabine Noebel et Klaudia Witte
vol. 94, n° 5, mai 2019, p. 759–771, 13 pages
The social environment offers fish complex information about the quality, performance, personality and other cues of potential mates and competitors simultaneously. It is likely, therefore, that the environmental information regarding the context of mate choice is perceived and processed...
Doh-Shin Jeon et Domenico Menicucci
vol. 115, mai 2019, p. 265–288
We study how the formation of a buyer group affects buyer power when sellers compete and buyers operate in separate markets. Previous research (Inderst and Shaffer, 2007, and Dana, 2012) has considered a buyer group that can commit to an exclusive purchase and has found that the formation of a...