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Arnaud Reynaud, Manh-Hung Nguyen et Cécile Aubert
vol. 20, n° 3, juillet 2018, p. 593–617
Vietnam is one of the countries most affected by floods. Despite high exposure to this risk and repeated calls from international organizations, the penetration rate of flood insurance remains surprisingly low in Vietnam. We investigate if there is a demand for flood insurance by Vietnamese...
Gladys Barragan, Cristina Atance, Leia Kopp et Astrid Hopfensitz
vol. 171, juillet 2018, p. 14–30
Patience, or the ability to tolerate delay, is typically studied using delay of gratification (DoG) tasks. However, among other factors (e.g., type of reward), the use of a reward to test patience is affected by an individual’s motivation to obtain the reward (e.g., degree of preference for the...
Guillaume Cheikbossian et Romain Fayat
vol. 168, juillet 2018, p. 77–81
We revisit the group size paradox in a model where two groups of different sizes compete for a prize exhibiting a varying degree of rivalry and where group effort is given by a CES function of individual e¤orts. We show that the larger group can be more successful than the smaller group if the...
Fabrice Collard, Sujoy Mukerji, Kevin Sheppard et Jean-Marc Tallon
vol. 9, n° 2, juillet 2018, p. 945–993
This paper assesses the quantitative impact of ambiguity on historically observed financial asset returns and growth rates. The single agent, in a dynamic exchange economy, treats the conditional uncertainty about the consumption and dividends next period as ambiguous. We calibrate the agent's...
Jean Tirole et Emmanuel Farhi
vol. 85, n° 3, juillet 2018, p. 1781–1823
Vishal Kamat et Ivan Canay
vol. 85, n° 3, juillet 2018, p. 1577–1608
Eric Gautier, Christiern Rose et Alexandre Tsybakov
n° 18-930, juin 2018, révision novembre 2019
This article considers inference in linear models with K regressors, some or many could be endogenous, and L instruments. L can range from less than K to any order smaller than an exponential in the sample size and K is arbitrary. For moderate K, identification robust confidence sets are obtained...
Mathias Staudigl (Technical University of Munich)
Manufacture des tabacs, Toulouse, juin 2018, salle MS 001
Marianne Fay, David Martimort et Stéphane Straub
n° 18-927, juin 2018, révision janvier 2021
The paper addresses the issue of the feasible level of private finance in a contract- ing model of infrastructure funding and financing. It characterizes the structure of financial contracts, deriving the conditions under which both public and private finance coexist. A key feature is that access...
Andrew Rhodes et Jidong Zhou
n° 18-928, juin 2018
A puzzling feature of many retail markets is the coexistence of large multiproduct firms and smaller firms with narrow product ranges. This paper provides a possible explanation for this puzzle, by studying how consumer search frictions influence the structure of retail markets. In our model single...
