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Jean-Pierre Florens, Frédérique Fève et Léopold Simar
n° 25-1640, mai 2025
The analysis of cost functions is an important topic in econometrics both for scientific studies and for industrial applications. The object of interest may be the cost of a firm or the cost of a specific production, in particular in case of a proposal to a procurement. Engineer methods evaluate...
Jean-Paul Décamps, Fabien Gensbittel et Thomas Mariotti
vol. 50, n° 2, mai 2025, p. 1478–1513
We study the optimal investment policy of a firm facing both technological and cash-flow uncertainty. At any point in time, the firm can decide to invest in a standalone technology or to wait for a technological breakthrough. Breakthroughs occur when market conditions become favorable enough,...
Sarah Ann Wheeler, Céline Nauges et Quentin R. Grafton
vol. 47, n° 2, mai 2025, p. 487–514
The allocation of water across space and time is a key challenge of water governance, with demand and supply often not well matched over time and place. Best practice water pricing and markets may promote water conservation, yet their application is limited. We highlight the governance principles...
Daniel L. Chen et Susan Yeh
vol. 128, n° 103155, mai 2025
Does obscenity law affect moral values and does it matter? Using random judge assignment and all U.S. obscenity precedents since 1958, we report four key findings. Democratic judges, more than Republicans, tended to vote progressively in obscenity cases. Such progressive rulings liberalized sexual...
Elena Panova et Thibault Laurent
mai 2025
This paper examines how the structure of communication networks influences learning and social welfare when participants have different prior opinions and face uncertainty about an external state. We analyze a game in which players form links to exchange opinions on the state and reduce their...
Jad Beyhum, Elia Lapenta et Pascal Lavergne
vol. 28, n° 2, mai 2025, p. 176–197
We extend nonparametric regression smoothing splines to a context where there is endogeneity and instrumental variables are available. Unlike popular existing estimators, the resulting estimator is one-step and relies on a unique regularization parameter. We derive rates of the convergence for the...
David Bardey et Philippe De Donder
Toronto, vol. 58, n° 2, mai 2025, p. 443–483
Personalized medicine is still in its infancy, with costly genetic tests providing little actionable information in terms of efficient prevention decisions. As a consequence, few people undertake these tests currently, and health insurance contracts pool all agents irrespective of their genetic...
Mayako Fujihara, Akiyuki Suzuki, Worata Klinsawat, Wanlop Chutipong, Cécile Sarabian, Marie Sigaud, Vanessa Gris et Miho Inoue-Murayama
vol. 7, n° 4 (e70010), avril 2025
The international trade of the Asian small-clawed otter (Aonyx cinereus) for commercial purposes is prohibited by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Appendix I. However, otter smuggling is still rampant, and Japan is among the important...
David Le Bris, William Goetzmann et Sébastien Pouget
avril 2025, p. 1–26
The origin of the modern joint-stock company is typically traced to the concomitant appearance of large-scale maritime trading companies in England and the Netherlands in the early seventeenth century. Highlighting medieval cases in southern Europe, we claim that the joint-stock company emerged...
Zaineb Smida, Thibault Laurent et Lionel Cucala
vol. 66, n° 100888, avril 2025
A scan method for functional data indexed in space has been developed. The scan statistic is derived from the Hotelling test statistic for functional data, extending the univariate and multivariate Gaussian spatial scan statistics. This method consistently outperforms existing techniques in...
