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Chiara Margaria et Alex Smolin
vol. 110, 2018, p. 330–339
We study dynamic games in which senders with state-independent payoffs communicate to a single receiver. Senders’ private information evolves according to an aperiodic and irreducible Markov chain. We prove an analog of a folk theorem—that any feasible and individually rational payoff can be...
Dirk Bergemann, Alex Smolin et Alessandro Bonatti
vol. 108, n° 1, 2018, p. 1–48
A data buyer faces a decision problem under uncertainty. He can augment his initial private information with supplemental data from a data seller. His willingness to pay for supplemental data is determined by the quality of his initial private information. The data seller optimally offers a menu of...
Daniel L. Chen, Jacob Phillips et Alan Yu
2018
Ramya Vunikili, Hitesh Ochani, Divisha Jaiswal, Richa Deshmukh, Daniel L. Chen et Elliott Ash
Estelle Cantillon et Aurélie Slechten
n° 132, décembre 2018, p. 53–79
A key policy argument in favor of emissions markets (relative to command-and-control types of regulation) is their ability to aggregate dispersed information and generate price signals to guide firms' trading and abatement decisions. We investigate this argument in a multi-period model where firms...
Olivier Faugeras et Ludger Rüschendorf
vol. 3, n° 1, 2018, p. 1–35
The main aim of this paper is to introduce the notion of risk excess measure, to analyze its properties and to describe some basic construction methods. To compare the risk excess of one distribution Q w.r.t. a given risk distribution P, we propose to apply the concept of hemi-metric on the space...
Jean-Charles Rochet et Délia Coculescu
vol. 28, n° 1, 2018, p. 5–28
The aim of this paper is to put forward a new family of risk measures that could guide investment decisions of private companies. But at the difference of the classical approach of Artzner, Delbaen, Eber, and Heath and the subsequent extensions of this model, our risk measures are built to reflect...
Radia Bacha et Farid Gasmi
vol. 12, n° 26, décembre 2018, p. 1–20
Dans La Perspective D’étudier Les Fondements économiques De La Politique D’interconnexion D’ Algérie Télécom, Incontestablement Une Pierre Angulaire Pour Le Succès Des Réformes Du Secteur Algérien Des Télécommunications, Nous Tentons Dans Ce Papier De Mettre En Lumière Les Traits Essentiels De La...
Jean-Pierre Amigues et Michel Moreaux
vol. 132, décembre 2018, p. 5–32
We study an economy producing energy services from a polluting fossil fuel and a carbon free renewable resource under a constraint on the admissible atmospheric carbon concentration, equivalently under a constraint on the admissible temperature. The transformation rates of natural primary resources...
Thomas S. Kraft, Jonathan Stieglitz, Benjamin C. Trumble, M. Martin, Hillard Kaplan et Michael Gurven
vol. 108, n° 6, décembre 2018, p. 1183–1195
