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Emmanuelle Auriol
13 septembre 2011
Roberta Dessi et Aldo Rustichini
n° 11-252, 10 septembre 2011
Standard economic models with complete information predict a positive, monotonic relationship between pay and performance. This prediction does not always hold in experimental tests: offering a small payment may result in lower performance than not offering any payment. We test experimentally two...
Augustin Landier et David Thesmar
7 septembre 2011
Eric Gautier et Stefan Hoderlein
n° 15-598, 2 septembre 2011, révision 25 août 2015
This paper considers treatment effects under endogeneity with complex heterogeneity in the selection equation. We model the outcome of an endogenous treat- ment as a triangular system, where both the outcome and first-stage equations consist of a random coefficients model. The first-stage...
David Martimort et Wilfried Sand-Zantman
n° 11-251, 31 août 2011, révision 30 avril 2013
We analyze environmental agreements in contexts with asymmetric information, voluntary participation by sovereign countries and possibly limited enforcement. Taking a mechanism design perspective, we study how countries can agree on effort levels and compensations to take into account multilateral...
Augustin Landier, David Sraer et David Thesmar
n° 11-279, août 2011
Using loan level data, we provide evidence consistent with risk-shifting in the lending behavior of a large subprime mortgage originator { New Century Financial Corporation { starting in 2004. This change follows the monetary policy tightening implemented by the Fed in the spring of 2004, which...
Régis Breton et Bertrand Gobillard
n° 11-308, août 2011
We propose an approach to restricting the set of equilibria in a market game and use it to assess the robustness of the price dispersion results obtained by Koutsougeras [2003, J. Econ. Theory 108, 169–175] in the multiple trading posts setup. More precisely, we perturb the initial game by the...
Nicholas Bloom, Mirko Draca et John Van Reenen
août 2011
We examine the impact of Chinese import competition on broad measures of technical change - patenting, IT, R&D, TFP and management practices – using new panel data across twelve European countries between 1996-2007. We correct for endogeneity using the removal of product-specific quotas...
Suzanne Scotchmer et Junjie Zhou
We study the optimal way to select projects or agents in environments where information arrives in well defined rounds. Examples include academic environments where review periods are set by policy, aptitude tests such as those given by software developers to programmers applying for jobs, venture...
Jeanine Miklos-Thal, Patrick Rey et Thibaud Vergé
vol. 9, n° 4, août 2011, p. 721–741
