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Georges Vivien Houngbonon, Marc Ivaldi, Emil Palikot et Davide Strusani
n° 23-1427, avril 2023
A substantial number of individuals remains unconnected to the Internet despite an increasing emphasis on infrastructure-based competition. This paper investigates the impact of shared telecom infrastructure on digital connectivity and inclusion using a new dataset on mobile tower sharing...
Francesca Barigozzi, Helmuth Cremer et Emmanuel Thibault
n° 23-1426, avril 2023
We present a simple dynamic model based on on-the-job human capital accumu- lation affecting the dynamic of wage rates and labor earnings. We show how these dynamics are determined by the interplay between the supply and demand sides of the labor market. The model can generate and explain the...
Olivier Armantier, Jérôme Foncel et Nicolas Treich
n° 23-1425, avril 2023
We study insurance and portfolio decisions, two opposite risk retention tradeoffs. Using household level data, we identify the first joint determinants (e.g. subjective expecta-tions, risk attitude) and frictions (e.g. liquidity constraints, financial literacy) in the literature. We also find key...
Jorge Peña et Georg Nöldeke
n° 23-153, avril 2023
The prisoners’ dilemma, the snowdrift game, and the stag hunt are simple two-player games that are often considered as prototypical examples of cooperative dilemmas across disciplines. However, surprisingly little consensus exists about the precise mathematical meaning of the words “cooperation”...
Jorge Peña, Aviad Heifetz et Georg Nöldeke
n° 23-152, avril 2023, révision octobre 2023
Cooperation usually becomes harder to sustain as groups become larger because incentives to shirk increase with the number of potential contributors to collective action. But is this always the case?Here we study a binary-action cooperative dilemma where a public good is provided as long as not...
Eva Raiber, Weiwei Ren, Jeanne Bovet, Paul Seabright et Charlotte Wang
vol. 71, n° 3, avril 2023
In many societies, parents are involved in selecting a spouse for their child, integrating this with decisions about premarital investment such as education. Do spousal preferences of parents and children conflict? We estimate parents’ spousal preferences based on survey choices between random...
Bruno Biais, Christophe Bisière, Matthieu Bouvard, Catherine Casamatta et Albert J. Menkveld
vol. 78, n° 2, avril 2023, p. 967–1014
We offer an overlapping generations equilibrium model of cryptocurrency pricing and confront it to new data on bitcoin transactional benefits and costs. The model emphasizes that the fundamental value of the cryptocurrency is the stream of net transactional benefits it will provide, which depend on...
Pascal Bégout et Jesus Ildefonso Diaz
vol. 3/4, n° 28, mars 2023, p. 311–340
Michele Bisceglia, Salvatore Piccolo et Emanuele Tarantino
vol. 87, n° 102919, mars 2023
Two firms propose a merger to the antitrust authority. They are uninformed about the efficiencies generated by the merger, but can hire an expert to gather information on their behalf. The authority is also uninformed about the merger’s efficiencies, but can run a costly internal investigation to...
Charlotte Cavaillé, Karine Van Der Straeten et Daniel L. Chen
n° 23-1424, mars 2023
Survey design often approximates a prediction problem: the goal is to select instruments that best predict the value of an unobserved construct or a future outcome. We demonstrate how advances in machine learning techniques can help choose among competing instruments. First, we randomly assign...
