Publications des institutions partenaires
Testing-Based Forward Model Selection
This paper defines and studies a variable selection procedure called Testing-Based Forward Model Selection. The procedure inductively selects covariates which increase predictive accuracy into a working statistical regression model until a stopping criterion is met. The stopping criteria and selection criteria are defined using statistical hypothesis tests. The paper explicitly...
Institution partenaire
English / 01/05/2017
Sharp convergence rates for forward regression in high-dimensional sparse linear models
Forward regression is a statistical model selection and estimation procedure which inductively selects covariates that add predictive power into a working statistical regression model. Once a model is selected, unknown regression parameters are estimated by least squares. This paper analyzes forward regression in high-dimensional sparse linear models. Probabilistic bounds for...
Institution partenaire
English / 01/05/2017
Monotone equilibria in signalling games
We study the monotonicity of sender’s equilibrium strategy with respect to her type in signalling games. We use counterexamples to show that when the sender’s payoff is non-separable, the Spence-Mirrlees condition cannot rule out equilibria in which the sender uses non-monotone strategies. These equilibria can survive standard refinements as incentives are strict and the sender plays...
Institution partenaire
English / 01/05/2017
Concentrating on the fall of the labor share
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a "superstar firm" model where industries are increasingly characterized by "winner take most" competition, leading a small number of highly profitable (and low labor share) firms to command growing market share. Building on Autor...
Institution partenaire
English / 01/05/2017
Functional connectivity between prefrontal and parietal cortex drives visuo-spatial attention shifts
It is well established that the frontal eye-fields (FEF) in the dorsal attention network (DAN) guide top-down selective attention. In addition, converging evidence implies a causal role for the FEF in attention shifting, which is also known to recruit the ventral attention network (VAN) and fronto-striatal regions. To investigate the causal influence of the FEF as (part of) a central...
Institution partenaire
English / 01/05/2017
Spillover effects of institutions on cooperative behavior, preferences, and beliefs
Institutions are an important means for fostering prosocial behaviors, but in many contexts their scope is limited and they govern only a subset of all socially desirable acts. We study experimentally how the presence and nature of an institution that enforces prosocial behavior in one domain affects behavior in a similar but unregulated domain. Groups play two identical public good...
Institution partenaire
English / 01/05/2017
Legitimacy through CSR disclosures? The advantage outweighs the disadvantages
Institution partenaire
English / 13/04/2017
A "fractal" solution to the chopstick auction
This paper constructs a novel equilibrium in the chopstick auction of Szentes and Rosenthal (Games and Economic Behavior, 2003a, 2003b). In contrast to the existing solution, the identified equilibrium strategy allows a simple and intuitive characterization. Moreover, its best-response set has the same Hausdorff dimension as its support, which may be seen as a robustness property....
Institution partenaire
English / 01/04/2017
Large dynamic covariance matrices
Second moments of asset returns are important for risk management and portfolio selection. The problem of estimating second moments can be approached from two angles: time series and the cross-section. In time series, the key is to account for conditional heteroskedasticity; a favored model is Dynamic Conditional Correlation (DCC), derived from the ARCH/GARCH family started by Engle...
Institution partenaire
English / 01/04/2017
On the convergence of logit-response to (strict) Nash equilibria
We show that the logit-response dynamics converges to a subset of (strict) Nash equilibria for any weakly acyclic, N-player normal form game. The result holds independently of whether revision opportunities arise as in asynchronous learning or in other ways, as long as the dynamics is regular. Our analysis generalizes and organizes recent convergence results in the literature....
Institution partenaire
English / 01/04/2017
Government distortion in independently owned media: evidence from U.S. Cold War news coverage of human rights
This study provides evidence of government distortion of news coverage among independently owned media outlets in a democratic regime. It uses data from 1946 to 2010 and documents that U.S. news coverage of human rights abuses committed by foreign governments was associated with membership on the United Nations Security Council and the degree of political alliance with the United...
Institution partenaire
English / 01/04/2017
Altered reward anticipation: Potential explanation for weight gain in schizophrenia?
Obesity and weight gain are severe complications of mental illness, especially schizophrenia. They result from changes in lifestyle and nutrition, side effects of medication and other, less well-understood factors. Recent studies suggest that obesity and weight gain are linked to psychopathology. Specifically, severe psychopathology is associated with greater weight dysregulation,...
Institution partenaire
English / 01/04/2017
"Mafia Inc.": when godfathers become entrepreneurs
We study the investment of criminal organizations in the legal economy. We focus on Italy, a country historically plagued by a conspicuous presence of mafia-type organizations. By using the exogenous credit contraction imposed by the 2007 financial crisis we highlight how the consequences for newly established enterprises have been less severe in areas with organized crime. Although...
Institution partenaire
English / 01/04/2017
The neural circuitry of emotion-induced distortions of trust
Aversive emotions are likely to be a key source of irrational human decision-making but still little is known about the underlying neural circuitry. Here, we show that aversive emotions distort trust decisions and cause significant changes in the associated neural circuitry. They reduce trust and suppress trust-specific activity in left temporoparietal junction (TPJ). In addition,...
Institution partenaire
English / 01/04/2017
Understanding peer effects: on the nature, estimation, and channels of peer effects
This paper estimates peer effects in a university context where students are randomly assigned to sections. While students benefit from better peers on average, low-achieving students are harmed by high-achieving peers. Analyzing students’ course evaluations suggests that peer effects are driven by improved group interaction rather than adjustments in teachers’ behavior or students’...
Institution partenaire
English / 01/04/2017
Adaptive value normalization in the prefrontal cortex is reduced by memory load
Adaptation facilitates neural representation of a wide range of diverse inputs, including reward values. Adaptive value coding typically relies on contextual information either obtained from the environment or retrieved from and maintained in memory. However, it is unknown whether having to retrieve and maintain context information modulates the brain’s capacity for value adaptation...
Institution partenaire
English / 01/04/2017
Competition in agricultural markets: an experimental approach
This paper develops an experimental approach to measure competition among intermediaries in agricultural markets, based on the random allocation of subsidies to traders. We show that, in individual-level randomizations with competitive spillovers, treatment-control differences in prices can inform an intuitive test of the degree of differentiation among firms. In the context of the...
Institution partenaire
English / 01/04/2017
Optimal estimation of a large-dimensional covariance matrix under Stein’s loss
This paper introduces a new method for deriving covariance matrix estimators that are decision-theoretically optimal within a class of nonlinear shrinkage estimators. The key is to employ large-dimensional asymptotics: the matrix dimension and the sample size go to infinity together, with their ratio converging to a finite, nonzero limit. As the main focus, we apply this method to...
Institution partenaire
English / 01/03/2017
Resurrecting weighted least squares
This paper shows how asymptotically valid inference in regression models based on the weighted least squares (WLS) estimator can be obtained even when the model for reweighting the data is misspecified. Like the ordinary least squares estimator, the WLS estimator can be accompanied by heteroskedasticity-consistent (HC) standard errors without knowledge of the functional form of...
Institution partenaire
English / 01/03/2017
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