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Daniel F. Garrett
n° 16-679, juillet 2016
We study the profit-maximizing price path of a monopolist selling a durable good to buyers who arrive over time and whose values for the good evolve stochastically. The setting is completely stationary with an infinite horizon. Contrary to the case with constant values, optimal prices fluctuate...
Jeffrey Ely, Daniel F. Garrett et Toomas Hinnosaar
n° 16-678, juillet 2016
We consider optimal pricing policies for airlines when passengers are uncertain at the time of ticketing of their eventual willingness to pay for air travel. Auctions at the time of departure efficiently allocate space and a profit maximizing airline can capitalize on these gains by overbooking...
Daniel L. Chen, Yosh Halberstam et Alan Yu
n° 16-680, juillet 2016, révision février 2020
The emphasis on “fit” as a hiring criterion has raised the spectrum of a new form of subtle discrimination (Yoshino 1998; Bertrand and Duflo 2016). Under complete markets, correlations between employee characteristics and outcomes persist only if there exists animus for the marginal employer (...
Daniel L. Chen
n° 16-681, juillet 2016, révision août 2016
U.S. Presidential elections polarize U.S. Courts of Appeals judges, doubling their dissents, partisan voting, and lawmaking along partisan lines and increasing their reversal of District Court decisions (Berdejo and Chen 2016). Dissents are elevated for ten months before the Presidential elections...
n° 16-682, juillet 2016
Previous studies suggest a significant role of language in the court room, yet none has identified a definitive correlation between vocal characteristics and court outcomes. This paper demonstrates that voice-based snap judgments based solely on the introductory sentences of lawyers arguing in...
Adam B. Badawi et Daniel L. Chen
n° 16-683, juillet 2016
We collect data on the record of every action in over one thousand cases involving public companies from 2004 to 2011 in the Delaware Court of Chancery, which is the leading court for corporate law disputes in the United States. We use these data to estimate how markets respond to Delaware...
n° 16-684, juillet 2016
Some theories about the positive impact of markets on morality suggest that competition increases empathy, not between competitors, but between them and third parties. However, empathy may be a necessary evolutionary antecedent to guile, which is when someone knows what the other person wants and...
Chiara Canta, Helmuth Cremer et Firouz Gahvari
n° 16-685, juillet 2016
We study the role and design of private and public insurance programs when informal care is uncertain. Children's degree of altruism is represented by a parameter which is randomly distributed over some interval. The level of informal care on which dependent elderly can count is therefore random....
Matt Gentskow, Jesse Shapiro et Matt Taddy
juillet 2016
We study trends in the partisanship of Congressional speech from 1873 to 2009. We define partisanship to be the ease with which an observer could infer a congressperson’s party from a fixed amount of speech, and we estimate it using a structural choice model and methods from machine learning. The...
Jean Tirole
vol. 84, n° 4, juillet 2016, p. 1291–1343
In a number of interesting environments, dynamic screening involves positive selection: in contrast with Coasian dynamics, only the most motivated remain over time. The paper provides conditions under which the principal's commitment optimum is time consistent and uses this result to derive...
