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Christian Gouriéroux et Alain Monfort
n° 25-1666, mai 2025
The aim of this paper is to link the machine learning method of multilayer perceptron (MLP) neural network with the classical analysis of stochastic state space models. We consider a special class of state space models with multiple layers based on affine conditional Laplace transforms. This new...
Jean-Pierre Amigues et Gilles Lafforgue
vol. 82, n° 101481, mai 2025, 22 pages
We develop a dynamic model of energy use that relies on three primary sources: a ‘dirty’ fossil resource, a ‘clean’ fossil resource equipped with a specific abatement device, and a carbon-free renewable energy source. The total amount of carbon emissions is limited by a given carbon budget....
Dale Whittington, Céline Nauges et Richard Damania
n° 20 064052, mai 2025
This paper describes three phases that cities go through for the delivery of municipal water and sanitation services, identifying the main political, technological, socio-institutional, financial, public health forces of disequilibria that push cities along this development path. Data from the...
Marina Kontalexi, Alexandros Gelastopoulos et Pantelis Analytis
mai 2025, p. 1086–1090
Theoretical work on sequential choice and large-scale experiments in online ranking and voting systems has demonstrated that social influence can have a drastic impact on social and technological systems. Yet, the effect of social influence on online rating systems remains understudied and the few...
Pascal Bégout et Jesus Ildefonso Diaz
vol. 53, mai 2025, p. 1–15
Dylan Hogan, Eyal G. Frank, Josephine Gantois et Anouch Missirian
vol. 115, mai 2025, p. 403–408
Global action to slow biodiversity loss is critically needed but comes at substantial cost. In this article, we assess the effectiveness of local ballot measures for land-based conservation projects in the United States as a way to increase bird abundance, a key conservation indicator. Using a...
Philippe De Donder
Toronto, vol. 58, n° 2, mai 2025, p. 414–417, Toronto
Emmanuelle Auriol, Nicolas Bonneton et Mattias Polborn
n° 25-1646, mai 2025
We present a moral hazard model of electoral accountability that challenges the common view of the populist vote as mere frustration with the elite. Rational voters use the threat of electing outsiders to incentivize more competent insiders whose policy preferences diverge from those of voters....
Andreea Enache et Andrew Rhodes
n° 25-1645, mai 2025, révision août 2025
We consider a setting in which a platform matches buyers and sellers, who then wish to transact with each other multiple times. The platform charges fees for hosting transactions, but also offers convenience benefits. We consider two scenarios. In one scenario, all transactions must occur on the...
Jon Frost, Jean-Charles Rochet, Huyn Song Shin et Marianne Verdier
n° 25-1644, mai 2025, révision juillet 2025
We compare three competing digital payment instruments: bank deposits, private stablecoins and central bank digital currencies (CBDCs). A simple theoretical model integrates the theory of two-sided markets and payment economics to assess the benefits of interoperability through a retail fast...
