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Claude Crampes et Thomas-Olivier Léautier
10 juillet 2014
David Bardey et Philippe De Donder
Sophie Moinas et Sébastien Pouget
n° 14-508, 7 juillet 2014
We propose a simple classroom experiment on speculative bubbles: the Bubble Game. This game is useful to discuss about market efficiency and trading strategies in a financial economics course, and about behavioral aspects in a game theory course, at all levels. The Bubble Game can be played with...
Domenico Menicucci, Sjaak Hurkens et Doh-Shin Jeon
7 juillet 2014
This paper considers a monopolist selling two objects to a single buyer with privately observed valuations. We prove that if each buyer’s type has a non-negative virtual valuation for each object, then the optimal price schedule is such that the objects are sold only in a bundle; weaker conditions...
Frédéric Cherbonnier
4 juillet 2014
Frédéric Cherbonnier et Emmanuel Thibault
3 juillet 2014
Samuel Maistre, Pascal Lavergne et Valentin Patilea
n° 14-501, juin 2014
We address the issue of lack-of-fit testing for a parametric quantile regression. We propose a simple test that involves one-dimensional kernel smoothing, so that the rate at which it detects local alternatives is independent of the number of covariates. The test has asymptotically gaussian...
Christian Gollier
n° 14-499, juin 2014, révision octobre 2014
Weitzman (1998, 2001) proposed a simple “gamma discounting” method to characterize the term structure of discount rates today from the sole distribution of future spot interest rates. This rule which justifies using a smaller discount rate for longer maturities is now used for long-term policy...
Timothy Yeung
n° 14-503, juin 2014
This paper presents a cheap-talk one-sender-multiple-receiver model in which audiences freeride on each other in the context of global environmental protections. The sender observes the magnitude of damage of emission, and sends the same message simultaneously to all audiences, who then play a game...
Jean-Paul Azam (Toulouse School of Economics) et Véronique Thelen (University of Rennes)
juin 2014
