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André Blais, Jean-François Laslier, Nicolas Sauger et Karine Van Der Straeten
n° 12-296, avril 2012
The paper proposes a way to measure mechanical and psychological effects of majority runoff versus plurality electoral systems in candidate elections. Building on a series of laboratory experiments, we evaluate these effects with respect to the probability of electing a Condorcet winner candidate....
Patrick Rey et David Salant
n° 12-297, avril 2012
We examine the impact of the licensing policies of one or more upstream owners of essential intellectual property (IP hereafter) on the variety offered by a downstream industry, as well as on consumers and social welfare. When an upstream monopoly owner of essential IP increases the number of...
Vera Angelova, Giuseppe Marco Attanasi et Yolande Hiriart
n° 12-304, avril 2012, révision septembre 2012
We compare the performance of liability rules for managing environmental disasters when third parties are harmed and cannot always be compensated. A firm can invest in safety to reduce the likelihood of accidents. The firm’s investment is unobservable to authorities. Externality and asymmetric...
Jean-Pierre Amigues, Gilles Lafforgue et Michel Moreaux
n° 12-318, avril 2012
We determine the optimal exploitation time-paths of three types of perfect substitute energy resources: The first one is depletable and carbon-emitting (dirty coal), the second one is also depletable but carbon-free thanks to a carbon capture and storage (CCS) process (clean coal) and the last one...
Diego Amaya, Geneviève Gauthier et Thomas-Olivier Léautier
n° 12-330, avril 2012
This paper develops a dynamic risk management model to determine a firm's optimal risk management strategy. The risk management strategy has two elements: first, until leverage is very high, the firm fully hedges its operating cash how exposure, due to the convexity in its cost of capital. When...
Christophe Bontemps, Zohra Bouamra-Mechemache et Michel Simioni
n° 12-335, avril 2012
EU regulation on quality food products (PDO labeling) is expected to sustain competitiveness within the agricultural sector. This paper examines the impact of this policy on the survival of cheese firms over the period 1990-2006 in France. We show that such a policy (Appellation d'Origine Controlee...
avril 2012
Michel Cavagnac et Guillaume Cheikbossian
n° 12-364, avril 2012
This paper analyzes the problem of international environmental cooperation as a coalition formation game. For this purpose, we develop a simple model with three countries of unequal size. Strate- gic interactions between those countries come from the imperfect competition among producers in global...
Roland Bénabou et Jean Tirole
n° 12-367, avril 2012, révision mars 2013
This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most talented workers leads to an escalating reliance on...
