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Fabien Gensbittel et Jérôme Renault
vol. 40, n° 4, novembre 2015, p. 820–841
We consider zero-sum repeated games with incomplete information on both sides, where the states privately observed by each player follow independent Markov chains. It generalizes the model, introduced by Aumann and Maschler in the sixties and solved by Mertens and Zamir in the seventies, where the...
Philippe De Donder et Pierre Pestieau
vol. 27, n° 3, novembre 2015, p. 389–403
We provide an explanation for why estate taxation is surprisingly little used over the world, given the skewness of the estate distribution. Taxing estates implies meddling with intra-family decisions, which may be frown upon by many. At the same time, the concentration of estates means that a low...
Sébastien Gadat, Laurent Miclo et Fabien Panloup
vol. 12, n° 1, novembre 2015
This paper aims to provide a simple modelling of speculative bubbles and derive some quantitative properties of its dynamical evolution. Starting from a description of individual speculative behaviours, we build and study a second order Markov process, which after simple transformations can be...
Michel Moreaux et Cees Withagen
vol. 74, novembre 2015, p. 55–70
We study optimal carbon capture and storage (CCS) from point sources, taking into account damages incurred from the accumulation of carbon in the atmosphere and exhaustibility of fossil fuel reserves. High carbon concentrations call for full CCS, meaning zero net emissions. We identify conditions...
Van Huyen Do, Christine Thomas-Agnan et Anne Vanhems
vol. 14, novembre 2015, p. 412–438
The combination of several socio-economic data bases originating from different administrative sources collected on several different partitions of a geographic zone of interest into administrative units induces the so-called areal interpolation problem. This problem is that of allocating the data...
Marion Desquilbet, Sylvette Monier-Dilhan et Thomas Pomeon
n° 227, novembre 2015
David Crainich, Louis Eeckhoudt et James K. Hammitt
vol. 79, n° 3, novembre 2015, p. 403–413
The relationship between willingness to pay (WTP) to reduce the probability of an adverse event and the degree of risk aversion is ambiguous. The ambiguity arises because paying for protection worsens the outcome in the event the adverse event occurs, which influences the expected marginal utility...
Helmuth Cremer et Kerstin Roeder
Elsevier, vol. 136, novembre 2015, p. 81–84
This paper studies the political economy of a basic income (BI) versus a means tested welfare scheme. We show in a very simple setting that if society votes on the type of system, its generosity as well as the “severity” of means testing (if any), a BI system could only emerge in the political...
Edmond Baranes et David Bardey
vol. 36, n° 5, novembre 2015
This article examines a model of competition between two types of health insurer: Health Maintenance Organizations (HMOs) and nonintegrated insurers. HMOs vertically integrate health care providers and pay them at a competitive price, while nonintegrated health insurers work as indemnity plans and...
Anna D’Annunzio et Antonio Russo
vol. 40, novembre 2015, p. 30–47
We investigate the relation between Net Neutrality regulation and Internet fragmentation. We model a two-sided market, where Content Providers (CPs) and consumers interact through Internet Service Providers (ISPs), and CPs sell consumers' attention to advertisers. Under Net Neutrality, a zero-price...
