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Marc Ivaldi et Vicente Lagos
n° 16-631, mars 2016
This paper aims to evaluate the coordinated effects of horizontal mergers by simulating its impact on firms’ critical discount factors. The simulation setting considers a model with a random coefficient discrete choice demand and heterogeneous price-setting firms on the supply side. The results...
Simon P. Anderson et Bruno Jullien
n° 16-632, mars 2016
This chapter focuses on the economic mechanisms at work in recent models of advertising finance in media markets developed around the concept of two-sided markets. The objective is to highlight new and original insights from this approach, and to clarify the conceptual aspects. The chapter first...
Astrid Hopfensitz, Cesar Mantilla et Josepa Miquel-Florensa
n° 16-633, mars 2016, révision juin 2016
We design and conduct a lab-in-the-field experiment to test the effect of a conditional contract on the sustainability of an open access fishery, where unit prices are conditional on aggregate catch. The contract provides collective incentives to decrease extraction but maintain the individual...
Patrick Fève et Mario Pietrunti
n° 16-634, mars 2016
This paper investigates the macroeconomic effects of fiscal policy in a setting in which private agents receive noisy signals about future shocks to government expenditures. We show how to empirically identify the relative weight of news and noise shocks to government spending and compute the level...
Christoph Rheinberger et Nicolas Treich
n° 16-635, mars 2016
In light of climate change and other global threats, policy commentators sometimes urge that society should be more concerned about catastrophes. This paper reflects on what society’s attitude toward low-probability, high-impact events is, or should be. We first argue that catastrophe risk can be...
Hanna Halaburda, Bruno Jullien et Yaron Yehezkel
n° 16-636, mars 2016, révision juillet 2019
We consider dynamic competition among platforms in a market with network externalities. A platform that dominated the market in the previous period be- comes \focal" in the current period, in that agents play the equilibrium in which they join the focal platform whenever such equilibrium exists....
Erwan Pierre, Stéphane Villeneuve et Xavier Warin
n° 16-637, mars 2016
We consider a singular control problem with regime switching that arises in problems of optimal investment decisions of cash-constrained firms. The value function is proved to be the unique viscosity solution of the associated Hamilton-Jacobi-Bellman equation. Moreover, we give regularity...
Tim Lee et Yongseok Shin
mars 2016
François Cochard, Hélène Couprie et Astrid Hopfensitz
vol. 14, n° 1, mars 2016, p. 1–26
This study makes a significant contribution to investigations of household behavior by testing for a willingness to cooperate and share income by men and women who are either in couple with each other or complete strangers. We present results from an economic experiment conducted with 100 co-...
Elie Gray et André Grimaud
vol. 26, n° 1, mars 2016, p. 101–142
What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly considering knowledge diffusion. Assuming that knowledge...
