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Sai Bravo-Melgarejo et Carole Haritchabalet
vol. 141, n° 108095, janvier 2025
We present a stylized microeconomic model to analyze solar panels and storage investment decisions of a representative consumer under either grid (credit regulation) or individual (price regulation) storage. We identify the conditions under which prosumers become storers. We show that solar...
Jean Tirole (Toulouse School of Economics), Olivier Coste (Coste and Partners LLC), Diane Coyle (University of Cambridge) et Monica Schnitzer (Ludwig-Maximilians-University of Munich)
Toulouse, janvier 2025, révision 10 juin 2026
Aurore Archimbaud, Fériel Boulfani, Xavier Gendre, Klaus Nordhausen, Anne Ruiz-Gazen et Joni Virta
vol. 33, janvier 2025, p. 282–303
Invariant coordinate selection (ICS) is a multivariate data transformation and a dimension reduction method that can be useful in many different contexts. It can be used for outlier detection or cluster identification, and can be seen as an independent component or a non-Gaussian component analysis...
Maxime Derex, Jean-François Bonnefon, Robert Boyd, Richard McElreath et Alex Mesoudi
vol. 292, n° 2039, janvier 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...
Jean-François Bonnefon, Augustin Landier, Parinitha Sastry et David Thesmar
vol. 163, n° 103955, janvier 2025
We characterize investors’ moral preferences in a parsimonious experimental setting, where we auction stocks with various ethical features. We find strong evidence that investors seek to align their investments with their social values (“value alignment”), and find no evidence of behavior driven by...
Farid Gasmi, Dorgyles Kouakou et Maruf Sanni
vol. 33, n° 1, janvier 2025, p. 139–164
At the turn of the millennium, developing countries face a twofold challenge. First, for reasons related to both intra- and inter-generational justice, these countries need to follow sustainable development pathways. Second, they need to understand the deep principles underpinning informality,...
Stéphane Bonhomme, Koen Jochmans et Martin Weidner
n° 25-1614, janvier 2025
A popular approach to perform inference on a target parameter in the presence of nuisance parameters is to construct estimating equations that are orthogonal to the nuisance parameters, in the sense that their expected first derivative is zero. Such first-order orthogonalization may, however, not...
Claude Crampes et Jérôme Renault
n° 25-1613, janvier 2025
Electricity is consumed continuously night and day and is not storable at large scale. Consequently, in an electricity industry organized and managed efficiently, demand should be tightly responsive to time-varying prices. We explore the consequences of the limited ability of electricity consumers...
Ashot Aleksian et Stéphane Villeneuve
n° 25-1612, janvier 2025
This paper investigates the exit-time problem for time-inhomogeneous diffusion processes. The focus is on the small-noise behavior of the exit time from a bounded positively invariant domain. We demonstrate that, when the drift and diffusion terms are uniformly close to some time-independent...
Haneul Jang et Daniel Redhead
n° 25-1611, janvier 2025
Cultural transmission across generations is key to cumulative cultural evolution. While several mechanisms—such as vertical, horizontal, and oblique transmission—have been studied for decades, how these mechanisms change across the life course, beyond childhood. Furthermore, it remains under-...
