Jump to navigation
Ingela Alger et Jörgen W. Weibull
n° 12-281, février 2012
What preferences will prevail in a society of rational individuals when preference evolution is driven by their success in terms of resulting payoffs? We show that when individuals’ preferences are their private information, a convex combinations of selfishness and morality stand out as...
Giuseppe Marco Attanasi, Fortuna Casoria, Samuele Centorrino et Giulia Urso
n° 12-291, février 2012
In this paper we show how the investment in cultural events may encourage the building of social capital and foster the development of local communities. We rely on a casestudy that we conducted about the socio-economic impact of the Festival “La Notte della Taranta”, the most important European...
Sébastien Mitraille et Michel Moreaux
n° 12-322, février 2012
Two-period Cournot competition between n identical firms producing at constant marginal cost and able to store before selling has pure strategy Nash-perfect equilibria, in which some firms store to exert endogenously a leadership over rivals. The number of firms storing balances market share gains...
2 mars 2012
Susan Athey et Markus Mobius
février 2012
This paper analyzes the impact of news aggregators on the quantity and composition of internet news consumption. In principle, news aggregators can be a substitute or a complement to the news outlets who invest in the creation of news stories. A policy debate centers around the decrease in the...
Emmanuel Farhi et Jean Tirole
vol. 102, février 2012, p. 60–93
The paper shows that time-consistent, imperfectly targeted support to distressed institutions makes private leverage choices strategic complements. When everyone engages in maturity mismatch, authorities have little choice but intervening, creating both current and deferred (sowing the seeds of the...
Jean Tirole
vol. 102, février 2012, p. 29–59
The paper provides a first analysis of market jumpstarting and its two-way interaction between mechanism design and participation constraints. The government optimally overpays for the legacy assets and cleans up the market of its weakest assets, through a mixture of buybacks and equity...
vol. 16, février 2012, p. 225–242
The debate on the Euro crisis understandably has had a strong short term focus. Avoiding short‐term disaster has been tantamount and the long term sustainability issue sometimes neglected; yet, the institutional failure of the Eurozone forces us to reconsider current arrangements in order to...
Jérôme Renault
vol. 37, n° 1, février 2012, p. 154–179
