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Johannes Beutel (Bundesbank)
10 novembre 2023, 11h30–12h30, BDF, Paris, salle 4GH & Online
We causally test alternative theories of expectation formation and asset pricing. Using a randomized information experiment we show overreaction is a key feature of individuals’ belief formation. Individuals excessively extrapolate past returns and earnings growth into future returns. The average...
David B. Ridley (Duke University)
TSE, 10 novembre 2023, 11h00–12h30, salle Auditorium 4
The US FDA created the accelerated drug approval program in 1992 to give HIV-AIDS patients earlier access to potentially life-saving, though unproven, drugs. Regulators in Europe, Japan, and elsewhere created similar conditional approval programs. They can approve a drug on weak evidence and ask...
Max Fathi (Université de Paris)
Toulouse : TSE, 9 novembre 2023, 11h00–12h15, salle Auditorium 3 - JJ Laffont
Otto and Villani's HWI inequality is an inequality linking entropy, Fisher information and Wasserstein distances on the space of probability measures. It was introduced as a consequence of the convexity of entropy on the space of probability measures, and has been studied from different points of...
Lucas Conwell (University College, London)
9 novembre 2023, 11h00–12h30, salle Auditorium 4
Workers in developing countries waste significant time commuting, and gaps in public transit constrain access to productive jobs. In many cities, privately-operated minibuses provide 50–100% of urban transit, at the cost of long wait times and poor personal safety for riders. Should developing-...
Karim Abadir (Imperial College, London)
8 novembre 2023, 11h30–12h30, BDF, Paris, salle 6 GH & Online
Macroeconomic and aggregate financial series were shown empirically to share an unconventional form of cyclical and persistent dynamics, whose functional form was obtained from the solution of general-equilibrium models with heterogeneous firms. The econometric modeling of equations that link such...
Ulrich Mueller (Princeton University)
TSE, 7 novembre 2023, 15h30–16h50, salle Auditorium 4
This paper proposes a model for, and investigates the consequences of, strong spatial dependence in economic variables. Our approach and findings echo those of the corresponding “unit root” time series literature: We suggest a model for spatial I(1) processes, and establish a functional central...
Joel Waldfogel (University of Minnesota)
7 novembre 2023, 14h00–15h00, Zoom Meeting
Regulators are responding to growing platform power with curbs on platforms’ potentially biased exercise of power, creating urgent needs for both a workable definition of platform bias and ways to detect and measure it. We develop a simple equilibrium framework in which consumers choose among...
Moritz Kuhn (Universität Mannheim)
TSE, 7 novembre 2023, 14h00–15h30, salle Auditorium 4
What determines differences in wealth accumulation across households? We document two new empirical facts on this old question. First, the variation in wealth accumulation by income is mainly driven by differences in asset market participation rather than differences in the invested amounts, so...
Daniel Balliet (VU Amsterdam)
Toulouse : IAST, 7 novembre 2023, 11h30–12h30, salle Auditorium 4 (first fllor - tse building)
During social interactions in daily life, people possess imperfect knowledge of their interdependence (i.e., how behaviors affect each person’s outcomes), and what people infer about their interdependence can shape their behaviors. I will discuss theory and research that suggests people can infer...
Alex Frug (University of Pompeu Fabra, Barcelona)
Toulouse : TSE, 7 novembre 2023, 11h00–12h30, salle Auditorium 3
