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Pascal Bégout et Jésus Ildefonso Diaz
vol. 472, février 2025
Marina Kontalexi, Alexandros Gelastopoulos et Pantelis Analytis
février 2025
Theoretical work on sequential choice and large-scale experiments in online ranking and voting systems has demonstrated that social influence can have a drastic impact on social and technological systems. Yet, the effect of social influence on online rating systems remains understudied and the few...
Alexandros Gelastopoulos, Pantelis Analytis, Gael Le Mens et Arnout van de Rijt
People are influenced by the choices of others, a phenomenon observed across contexts in the social and behavioral sciences. Social influence can lock in an initial popularity advantage of an option over a higher quality alternative. Yet several experiments designed to enable social influence have...
Andrew Rhodes, Jidong Zhou et Junjie Zhou
n° 25-1621, février 2025, révision février 2026
This paper develops a framework in which a multiproduct ecosystem competes with multiple single-product firms in both price and innovation. The ecosystem can use data from one product to improve the quality of its other products. We use the framework to study three regulatory policies aimed at...
Claude Crampes et Antonio Estache
février 2025, p. 1–26
The paper makes the case for a systematic ex-ante assessment of the distributional impact of efficiency enhancing innovations regulatory sandboxes are expected to test. It shows how their prior formal modeling can inform on the possible need to control in the sandbox design for otherwise...
Ayden Higgins et Koen Jochmans
n° 25-1620, février 2025
Inference in linear panel data models is complicated by the presence of fixed effects when (some of) the regressors are not strictly exogenous. Under asymptotics where the number of cross-sectional observations and time periods grow at the same rate, the within-group estimator is consistent but its...
Jean-Paul Azam
n° 25-1619, février 2025, révision mai 2026
Confession was made compulsory in 1215 at the Lateran Council. Confessors became a kind of regulators, providing advice and inflicting fines, called “restitutions”. An insider named Peter Olivi created positive price theory in 1295 to show that their concepts of ‘just price’ and ‘usury’ were...
Maxime Derex, Jean-François Bonnefon, Robert Boyd, Richard McElreath et Alex Mesoudi
n° 25-1618, février 2025
In many domains, learning from others is crucial for leveraging cumulative cultural knowledge, which encapsulates the efforts of successive generations of innovators. However, anecdotal and experimental evidence suggests that reliance on social information can reduce the exploration of the problem...
Yassine Lefouili et Leonardo Madio
n° 25-1617, février 2025, révision juillet 2025
In this paper, we review recent studies on the impact of mergers on investments. We begin by examining how mergers among competing incumbents influence firms’ incentives to develop new products and undertake cost-reducing or quality-enhancing investment. We then analyze how an incumbent’s...
Fabrice Collard, Patrick Fève et Philipp Wangner
n° 25-1616, février 2025
This paper explores how the persistence of demand shocks interacts with monetary policy in New Keynesian frameworks. We identify two key propagation channels: a permanent income channel, which amplifies the effects of persistent shocks, and a real interest rate channel, which goes in the opposite...
