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Paula Margaretic et Sébastien Pouget
vol. 58, novembre 2018, p. 340–355
This paper studies the impact of a country's extra-financial performance on its sovereign bond spreads. Sovereign bond spreads reflect both an economic default risk and a strategic default risk. We hypothesize that a country's extra-financial performance reduces default risk by signalling good...
Denis Hilton, Nicolas Treich, Gaetan Lazzara et Philippe Tendil
vol. 17, n° 1-2, novembre 2018, p. 27–38
We discuss what makes a “good” environmental nudge from the policy maker’s point of view. We first delineate what is paternalistic about environmental nudges. We then discuss the effectiveness of nudges, including their paradoxical effects on the targeted behaviour, as well as possible collateral...
Bastien Cabarrou, Patrick Sfumato, Loïc Mourey, Eve Leconte et Laurent Balardy
vol. 9, n° 103, novembre 2018, p. 102–126
Jorge Peña et Georg Nöldeke
vol. 457, novembre 2018, p. 211–220
How the size of social groups affects the evolution of cooperative behaviors is a classic question in evolutionary biology. Here we investigate group size effects in the evolutionary dynamics of games in which individuals choose whether to cooperate or defect and payoffs do not depend directly on...
Emmanuelle Auriol, Giulia Camilotti et Jean-Philippe Platteau
sous la direction de Siwan Anderson, Lori Beaman et Jean-Philippe Platteau, chapitre 15, novembre 2018
Bruno Biais et Richard Green
n° 18-960, octobre 2018
Bonds are traded in opaque and fragmented over-the-counter markets. Is there some- thing special about bonds precluding transparent limit-order markets? Historical experience suggests this is not the case. Before WWII, there was an active market in corporate and municipal bonds on the NYSE....
T.H.A Nguyen, Thibault Laurent, Christine Thomas-Agnan et Anne Ruiz-Gazen
n° 18-961, octobre 2018
The proportions of votes by party on a given subdivision of a territory form a vector called composition (mathematically, a vector belonging to a simplex). It is interesting to model these proportions and study the impact of the characteristics of the territorial units on the outcome of the...
Philippe Bontems et Marie-Françoise Calmette
n° 18-966, octobre 2018
In this article, we propose a new way of assessing environmental responsibility at the country level, taking into account their trade balance in terms of carbon. Starting from the fact that the approach based on the respective responsibilities of the producer and the consumer, which are widely...
Frédéric Cherbonnier et Christian Gollier
n° 18-972, octobre 2018, révision décembre 2020
When evaluating public and private investment projects, those that contribute more to the collective risk should be more penalized through an upward adjustment of their discount rate. This paper shows how to estimate the risk-adjusted discount rate for different projects, with applications to the...
Hunt Allcott, Matthew Gentzkow et Chuan Yu
octobre 2018
In recent years, there has been widespread concern that misinformation on social media is damaging societies and democratic institutions. In response, social media platforms have announced actions to limit the spread of false content. We measure trends in the diffusion of content from 570 fake news...
