Publications des institutions partenaires
Network formation with local complements and global substitutes: the case of R&D networks
In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors in the network benefit from each other’s action levels through local complementarities and there exists a global interaction effect reflecting a strategic substitutability in actions. The tractability of the model allows us to provide a complete equilibrium...
Institution partenaire
English / 01/02/2017
Essays on mental characteristics of traders and financial markets
Institution partenaire
English / 01/02/2017
The taxation of superstars
How are optimal taxes affected by superstar phenomena? To answer this question, we extend the Mirrlees model to incorporate an assignment problem in the labor market that generates superstar effects. Perhaps surprisingly, rather than providing a rationale for higher taxes, we show that superstar effects provide a force for lower marginal taxes conditional on the observed distribution...
Institution partenaire
English / 01/02/2017
The lasting legacy of seasonal influenza: in-utero exposure and labor market outcomes
Pregnancy conditions have been shown to matter for later economic success, but many threats to fetal development that have been identified are difficult to prevent. In this paper I study seasonal influenza, a preventable illness that comes around every year and causes strong inflammatory responses in pregnant women. Using administrative data from Denmark, I identify the effects of...
Institution partenaire
English / 01/02/2017
How do people perceive information? Three essays in empirical economics
Institution partenaire
English / 01/02/2017
When work disappears: manufacturing decline and the falling marriage-market value of men
The structure of marriage and child-rearing in U.S. households has undergone two marked shifts in the last three decades: a steep decline in the prevalence of marriage among young adults, and a sharp rise in the fraction of children born to unmarried mothers or living in single-headed households. A potential contributor to both phenomena is the declining labor-market opportunities...
Institution partenaire
English / 01/02/2017
High-skilled immigration, STEM employment, and non-routine-biased technical change
We study the role of foreign-born workers in the growth of employment in STEM occupations since 1980. Given the importance of employment in these fields for research and innovation, we consider their role in a model featuring endogenous non-routine-biased technical change. We use this model to quantify the impact of high-skilled immigration, and the increasing tendency of such...
Institution partenaire
English / 01/02/2017
Nonlinear effects of taxation on growth
We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest severely hurt their growth performance. In our model, the effects of taxation on growth are highly nonlinear. Low tax rates have a very small impact on...
Institution partenaire
English / 01/02/2017
Revealed preferences in a sequential prisoners' dilemma: a horse-race between five utility functions
We experimentally investigate behavior and beliefs in a sequential prisoner’s dilemma. Each subject had to choose an action as first-mover and a conditional action as second-mover. All subjects also had to state their beliefs about others’ second-mover choices. We find that subjects’ beliefs about others’ choices are fairly accurate on average. Using the elicited beliefs, we compare...
Institution partenaire
English / 01/02/2017
Herding: a new phenomenon affecting medical decision-making in multiple sclerosis care? Lessons learned from DIScUTIR MS
Purpose: Herding is a phenomenon by which individuals follow the behavior of others rather than deciding independently on the basis of their own private information. A herding-like phenomenon can occur in multiple sclerosis (MS) when a neurologist follows a therapeutic recommendation by a colleague even though it is not supported by best practice clinical guidelines. Limited...
Institution partenaire
English / 31/01/2017
SEPIA: : social cushioning of energy price increases and public acceptability
Bien que les taxes environnementales soient un instrument efficient pour atteindre les objectifs des politiques climatique et énergétique, elles ne sont pas toujours socialement acceptées. Une crainte fréquente est que ces taxes pourraient avoir un effet régressif sur la distribution des revenus. Dans ce projet, nous analysons dès lors les impacts sociaux de ces taxes, ainsi que...
Institution partenaire
English / 17/01/2017
Globalisierung bremsen kann sich lohnen : Trump macht auf Protektionismus. Ist das immer schlecht? Nein, wie ein Beispiel aus der Geschichte zeigt
Institution partenaire
Deutsch / 16/01/2017
Globalisierung bremsen kann sich lohnen
Trump macht auf Protektionismus. Ist das immer schlecht? Nein, wie ein Beispiel aus der Geschichte zeigt
Institution partenaire
Deutsch / 16/01/2017
Deficits in reinforcement learning but no link to apathy in patients with schizophrenia
Negative symptoms in schizophrenia have been linked to selective reinforcement learning deficits in the context of gains combined with intact loss-avoidance learning. Fundamental mechanisms of reinforcement learning and choice are prediction error signaling and the precise representation of reward value for future decisions. It is unclear which of these mechanisms contribute to the...
Institution partenaire
English / 10/01/2017
Pre-play communication with forgone costly messages: experimental evidence on forward induction
We experimentally study optional costly communication in Stag-Hunt games. Prior research demonstrates that efficient coordination is difficult without a communication option but obtains regularly with mandatory costless pre-play messages. We find that even small communication costs dramatically reduce message use when communication is optional, but efficient coordination can occur...
Institution partenaire
English / 01/01/2017
Nonlinear shrinkage of the covariance matrix for portfolio Selection: Markowitz Meets Goldilocks
Markowitz (1952) portfolio selection requires an estimator of the covariance matrix of returns. To address this problem, we promote a nonlinear shrinkage estimator that is more flexible than previous linear shrinkage estimators and has just the right number of free parameters (i.e., the Goldilocks principle). This number is the same as the number of assets. Our nonlinear shrinkage...
Institution partenaire
English / 01/01/2017
The Swiss franc's honeymoon
Starting from the stylized fact that the Swiss franc is a safe haven currency, this paper focuses on the determinants of the Swiss franc during the lower bound regime from September 2011 to January 2015. We describe the Swiss franc as a function of global market risk fundamentals and find that the macroeconomic model outlined by Krugman (1991) describes the EUR/CHF exchange rate well...
Institution partenaire
English / 01/01/2017
An econometric model of healthcare demand with nonlinear pricing
From 2004 to 2012, the German social health insurance levied a co-payment for the first doctor visit in a calendar quarter. We develop a new model for estimating the effect of such a co-payment on the individual number of visits per quarter. The model combines a one-time increase in the otherwise constant hazard rate determining the timing of doctor visits with a difference-in-...
Institution partenaire
English / 01/01/2017
Pages
Le portail de l'information économique suisse
© 2016 Infonet Economy