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Laurent Gobillon et Thierry Magnac
n° 13-419, juillet 2013
In this paper, we investigate the use of interactive effect or linear factor models in regional policy evaluation. We contrast treatment effect estimates obtained by Bai (2009)'s least squares method with the popular difference in difference estimates as well as with estimates obtained using...
Luc Baumstark et Christian Gollier
juillet 2013
Sergi Basco et Marti Mestieri
n° 13-428, juillet 2013, révision novembre 2013
This paper empirically analyzes how the adoption of Information Technologies (IT) has changed the organization of global supply chains. We focus on international mergers, which are a growing and important component of foreign direct investment. We use data on North-South vertical mergers and...
Paul Scott
Christian Gollier, James K. Hammitt et Nicolas Treich
n° 13-444, juillet 2013
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Ben Mermelstein, Volker Nocke, Mark Satterthwaite et Michael Whinston
We study optimal merger policy in a dynamic model in which the presence of scale economies imply that Örms can reduce costs through either internal investment in building capital or through mergers. The model, which we solve computationally, allows Örms to invest or propose mergers according to the...
Stefan Ambec et Jessica Coria
vol. 66, n° 1, juillet 2013, p. 123–140
We examine the choice of policy instruments (price, quantity or a mix of the two) when two pollutants are regulated and firms' abatement costs are private information. Whether abatement efforts are complements or substitutes is key determining the choice of policies. When pollutants are complements...
Vincent Anesi et Philippe De Donder
vol. 41, n° 2, juillet 2013, p. 241–261
We build a simple model of secession crises where a majority of voters may wish to accommodate a minority in order to prevent a secession attempt. We first show the existence of a majority voting equilibrium, where the median voter is decisive and most prefers a government’s type that is biased in...
Sophie Moinas et Sébastien Pouget
vol. 81, n° 4, juillet 2013, p. 1507–1539
Philippe De Donder et Marie-Louise Leroux
vol. 14, n° 2, juillet 2013, p. 551–575
We develop a model where individuals all have the same probability of becoming dependent and vote over the social long term care insurance contribution rate before buying additional private insurance and saving. We study three types of behavioral biases, all having in common that agents under-...
