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Claude Crampes et Jean-Michel Trochet
n° 19-985, janvier 2019
Electricity storage encompasses a disparate list of technologies such as pumped-storage hydroelectricity, compressed-air energy storage, chemical batteries, and flywheels. These technologies can provide the electricity system with heterogeneous services of energy transfers across months, weeks,...
Anaïs Fabre et Stéphane Straub
n° 19-986, janvier 2019, révision septembre 2021
This paper summarizes what is known about the impact of public-private partnerships (PPPs) in the three sectors where they have been used intensively: infrastructure (energy, transport, water and sanitation, and telecommunications), education, and health. It lays out the main elements of economic...
Nicolas Treich
n° 19-988, janvier 2019
L’économie ne s’intéresse pas aux animaux. L’ambition de cet article est de stimuler des recherches en économie sur les animaux et le véganisme. Par véganisme, nous considérons tous les comportements visant à modifier (et pas seulement éliminer) l’utilisation ou la consommation d’animaux pour des...
Christian Gouriéroux et Joann Jasiak
vol. 9, janvier 2019, p. 14–41
The martingale hypothesis is commonly tested in financial and economic time series. The existing tests of the martingale hypothesis aim at detecting some aspects of nonstationarity, which is considered an inherent feature of a martingale process. However, there exists a variety of martingale...
Andrea Attar, Thomas Mariotti et François Salanié
vol. 14, n° 1, janvier 2019, p. 297–343
We study a discriminatory limit-order book in which market makers compete in nonlinear tariffs to serve a privately informed insider. Our model allows for general nonparametric specifications of preferences and arbitrary discrete distributions for the insider's private information. Adverse...
Joao Correia da silva, Bruno Jullien, Yassine Lefouili et Joana Pinho
vol. 28, n° 1, janvier 2019, p. 109–124
This paper discusses the literature on horizontal mergers between multi-sided platforms and argues that the Cournot model can provide useful insights into the welfare effects of such mergers. To illustrate those insights, we develop a simple model in which two-sided platforms offer a homogeneous...
Jean-Paul Décamps et Stéphane Villeneuve
vol. 23, n° 1, janvier 2019, p. 1–28
We study a corporate finance dynamic contracting model in which the firm's growth rate fluctuates and is impacted by the unobservable effort exercised by the manager. We show that the principal's problem takes the form of a two-dimensional Markovian control problem. We prove regularity properties...
Pierre-André Chiappori, Bernard Salanié, François Salanié et Amit Gandhi
vol. 87, n° 1, janvier 2019, p. 1–36
We show that even in the absence of data on individual decisions, the distribution of individual attitudes towards risk can be identified from the aggregate conditions that characterize equilibrium on markets for risky assets. Taking parimutuel horse races as a textbook model of contingent markets...
Christian Gollier
vol. 80, janvier 2019, p. 1–8
Gladys Barragan, Cristina Atance, Astrid Hopfensitz, Jonathan Stieglitz et Maxime Cauchoix
vol. 10, n° 2719, janvier 2019
