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Bruno Biais
26 janvier 2017
Claude Crampes et Michel Moreaux
n° 16-640, 2016
Aude Illig et Ian Schindler
n° 16-701, 2016
We use the dynamic production function identities and an empirical model of oil prices based only on oil extraction data to analyze the dynamics of oil prices as we transition into the contraction phase of oil extraction. We explore the implications with respect to several common scenarios.
Mathias Reynaert et James M. Sallee
n° 16-739, décembre 2016, révision août 2019
Firms sometimes comply with externality-correcting policies by gaming the measure that determines policy. We show theoretically that such gaming can benefit consumers, even when it induces them to make mistakes, because gaming leads to lower prices by reducing costs. We use our insights to quantify...
Christian Helmers, Yassine Lefouili, Brian Love et Luke McDonagh
n° 16-740, décembre 2016, révision janvier 2021
We study the effect of fee shifting rules on litigation. First, we build a model to study the theoretical effect of a change in cost-recovery rules on case filings, (post-filing) settlement, win rates, and plaintiffs' average litigation expenditures. We then undertake an empirical analysis of the...
Céline Bonnet et Timothy J. Richards
n° 16-741, décembre 2016
Advances in available data, econometric methods, and computing power have created a revolution in demand modeling over the past two decades. Highly granular data on household choices means that we can model very specific decisions regarding purchase choices for differentiated products at the retail...
Joanna Morais, Michel Simioni et Christine Thomas-Agnan
n° 16-742, décembre 2016
This paper aims to present and compare statistical modeling methods adapted for shares as dependent variables. Shares are characterized by the following constraints: positivity and sum equal to 1. Four types of models satisfy this requirement: multinomial logit models widely used in discrete choice...
Pascal Lavergne et Pierre Nguimkeu
n° 16-743, décembre 2016
This paper addresses the issue of detecting misspecified conditional moment restrictions (CMR). We propose a new Hausman-type test based on the comparison of an efficient estimator with an ineficient one, both derived by semiparametrically estimating the CMR using different bandwidths. The proposed...
Patrick Rey et Thibaud Vergé
n° 16-744, décembre 2016, révision décembre 2020
We develop a general, tractable framework of multilateral vertical contracting, which places no restriction on tari§s and fully accounts for their impact on downstream competition. Equilibrium tariffs are cost-based and replicate the outcome of a multi-brand oligopoly, a finding in line with the...
Laurent Fresard, Ulrich Hege et Gordon Phillips
n° 16-745, décembre 2016
We investigate the role of industry specialization in horizontal cross-border merg- ers and acquisitions. We find that acquirers from more specialized industries in a country are more likely to buy foreign targets in countries that are less specialized in these same industries. The role of industry...
