Recherche avancée

Alain Ayong Le Kama, Aude Pommeret et Fabien Prieur

vol. 16, n° 6, décembre 2014, p. 959–980

We consider an optimal consumption and pollution problem that has two important features. Environmental damages due to economic activities may be irreversible and the level at which the degradation becomes irreversible is unknown. Particular attention is paid to the situation where agents are...

Nicolas Pistolesi

vol. 113, 2014, p. 347–377

Géraldine Bocquého, Florence Jacquet et Arnaud Reynaud

vol. 41, n° 1, 2014, p. 135–172

We elicit the risk preferences of a sample of French farmers in a field-experiment setting, considering both expected utility and cumulative prospect theory. Under the EU framework, our results show that farmers are characterised by a concave utility function for gain outcomes implying risk...

Silvia Goncalves, Ulrich Hounyo et Nour Meddahi

vol. 12, n° 4, 2014, p. 679–707

The main contribution of this article is to propose bootstrap methods for realized volatility-like estimators defined on pre-averaged returns. In particular, we focus on the pre-averaged realized volatility estimator proposed by Podolskij and Vetter (2009). This statistic can be written (up to a...

Paul Beaudry et Franck Portier

vol. 52, n° 4, décembre 2014, p. 993–1074

There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective. In this paper we discuss mechanisms by which changes in agents' information, due to the arrival of...

Vincent Réquillart et Louis-Georges Soler

vol. 43, n° 3, 2014, p. 375–403

Up to now, most nutritional policies have been set up to inform consumers about the health benefits induced by more balanced diets. Reviews of the impacts of these policies show that the effects are often modest. This has led governments to implement, in more recent times, policies focused on the...

Hélène Bourguignon, Renato Gomes et Jean Tirole

vol. 10, n° 2, 2014, p. 13–27

The role of payment cards in modern economies can hardly be underrated. In 2013, debit and credit card transactions represented roughly half of all consumer payment transactions in Western Europe, and accounted for more than 45% of all payment transactions in the United States. 2 The payment card...

Fulvio Fontini et Giulia Pavan

Elsevier, vol. 68, 2014, p. 603–607

Dino Gerardi, Johannes Hörner et Lucas Maestri

vol. 154, 2014, p. 578–603

This paper characterizes the set of equilibrium payoffs in bargaining with interdependent values when the informed party makes all offers, as discounting vanishes. The seller of a good is informed of its quality, which affects both his cost and the buyer’s valuation, but the buyer is not. To...

Heski Bar-Isaac et Johannes Hörner

vol. 23, 2014, p. 601–627

An agent has different abilities in two types of tasks, which are revealed through his performance over time. He initially decides whether to engage in only one task (specialize) or to take on any task that arises (be a generalist). This decision trades off the cost of being idle against staying...