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G. Dhaene et Koen Jochmans
vol. 32, octobre 2016, p. 1178–1215
Pierre Dubois et Margaret Kyle
n° 16-688, septembre 2016
Cancer is a leading cause of death in developed countries, and cancer treatments are the top category of pharmaceutical spending in the United States and Europe. This paper assesses whether novel cancer therapies are associated with a reduction in mortality. Using panel data from 11 developed...
Jay Pil Choi et Doh-Shin Jeon
n° 16-689, septembre 2016, révision octobre 2019
Partly motivated by the recent antitrust investigations concerning Google, we develop a leverage theory of tying in two-sided markets. We analyze incentives for a monopolist to tie its monopolized product with another product in a two-sided market. Tying provides a mechanism to circumvent the non-...
Doh-Shin Jeon, Byung-Cheol Kim et Domenico Menicucci
n° 16-690, septembre 2016, révision juin 2020
We study second-degree price discrimination by a two-sided monopoly platform. The incentive constraints of the agents on the value creation side may be in conflict with internalizing externalities on the value capture side, which may render pooling optimal. Even without such conflict between the...
Doh-Shin Jeon, Domenico Menicucci et Nikrooz Nasr
n° 16-691, septembre 2016, révision août 2020
We study mix-and-match compatibility choices of firms selling complementary products in a dynamic setting. In contrast to what happens in a static setting where symmetric firms choose compatibility (Matutes and Régibeau, 1988), when consumers face significant switching costs and firms can poach...
Yeon-Koo Che, Elisabetta Iossa et Patrick Rey
n° 16-695, septembre 2016, révision novembre 2020
Procuring an innovation involves motivating a research effort to generate a new idea and then implementing that idea efficiently. If research efforts are unveriable and implementation costs are private information, a trade-off arises between the two objectives. The optimal mechanism resolves the...
Daniel L. Chen
n° 16-692, septembre 2016
Scholars since Hume and Smith have debated possible causal connections between market experiences and moral beliefs. Of particular interest today are questions related to incentive designs: for example, could the structure of employment affect moral attitudes? Here, I study the impact of employment...
Daniel L. Chen et Susan Yeh
n° 16-693, septembre 2016
Is it justified for states to appropriate private property rights? If so, should governments expropriate or regulate?We test three conventional views: insecure property rights cause underinvestment, moral hazard cause overinvestment, or public use cause economic growth.We embed these mechanisms in...
Daniel L. Chen, Moti Michaeli et Daniel Spiro
n° 16-694, septembre 2016
Studying a high-stakes field setting, we examine which individuals, on an ideological scale, conform more to the opinion of others. In the U.S. Courts of Appeals, legal precedents are set by ideologically diverse and randomly composed panels of judges. Using exogenous predictors of ideology and...
Patrick Fève, Tannous Kass-Hanna et Mario Pietrunti
n° 16-696, septembre 2016
This paper provides an analytical characterization of the effects of noisy news shocks on fiscal policy. We consider a small-scale Dynamic Stochastic General Equilibrium (DSGE) model with capital accumulation and endogenous labor supply and show that noise dampens the propagation of anticipated...
