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Lydia Mechtenberg, Grischa Perino, Nicolas Treich, Jean-Robert Tyran et Stephanie W. Wang
vol. 231, n° 105070, mars 2024
This paper presents a two-wave survey experiment to examine the impact of self-image concerns on voting behavior. We elicit votes on a ballot initiative on animal welfare in Switzerland that spurred campaigns involving widely shared normative values. We send a message to voters about scientific...
Patrick Fève, Tiziana Assenza, Fabrice Collard et Stefanie Huber
n° 24-1516, mars 2024
The proliferation of fake news poses significant challenges for policymakers and raises concerns about its potential impact on economic stability. This paper explores this question, focusing on the macroeconomic effects of technology related fake news in the US for the period 2007–2022. Utilizing a...
Andrea Attar, Lorenzo Bozzoli et Roland Strausz
n° 24-1522, mars 2024, révision février 2025
We propose a novel approach to contract renegotiation with asymmetric information, introducing mediated mechanisms that generate additional private information to deter renegotiation. These mechanisms prevent any renegotiation, upholding secondbest optimality as the unique equilibrium outcome. Thus...
Paul-Henri Moisson
n° 24-1521, mars 2024
The paper investigates socially responsible investment (SRI) when savers’ moral compass is direct consequentialism. It unveils the determinants of the (positive) green premium under laissez-faire and studies the ability of Pigouvian taxes to deliver the first-best outcome. It characterizes...
n° 24-1518, mars 2024, révision avril 2024
How do individuals behave in a society that rewards "merit", despite not being all on the same starting line? Does inequality in head starts make meritocracy undesirable? Attempting to answer these questions, this paper develops a model of career concerns in which agents publicly choose among...
Christian Gollier
vol. 49, mars 2024, p. 59–74
An optimality condition for sustainability actions under discounted expected utility is that, ex post, we should almost surely regret having adjusted them too much for risk. In other words, ex post, one would almost surely feel regret for "excess" precautionary saving, excess insurance and hedging...
M. A. Drupp, M. C. Hänsel, E. P. Fenichel, Mark Freeman, Christian Gollier, Ben Groom, G. M. Heal, P. H. Howard, Antony Millner, F. C. Moore, F. Nesje, M. F. Quaas, Sjak Smulders, Thomas Sterner, Christian Traeger et F. Venmans
vol. 383, n° 6687, mars 2024, p. 1062–1064
Michele Bisceglia, Jorge Padilla, Joe Perkins et Salvatore Piccolo
vol. 72, n° 1, mars 2024, p. 516–547
In a framework where entrants must make sunk investment decisions with uncertain returns and have private demand information, we show that the relationship between innovation and exit value is non‐monotone and features an inverted U‐shaped pattern. Consumer surplus is maximised at the lowest exit...
Arnaud Reynaud et Benjamin Ouvrard
n° 24-1517, mars 2024
We examine the influence of perceived social norms on the adoption by French farmers of eco-schemes (ES), a new type of direct monetary compensation provided by the EU Common Agricultural Policy to farmers who voluntarily adopt sustainable agricultural practices. Using a representative large scale...
Manuel Arellano, Richard Blundell, Stéphane Bonhomme et Jack Light
vol. 240, n° 2, mars 2024
In this paper we use the enhanced consumption data in the Panel Survey of Income Dynamics (PSID) from 2005–2017 to explore the transmission of income shocks to consumption. We build on the nonlinear quantile framework introduced in Arellano et al. (2017). Our focus is on the estimation of...
