Now showing items 1-20 of 534

  • Belief-weighted Nash aggregation of Savage preferences 

    Sprumont, Yves (Université de Montréal. Département de sciences économiques., 2018-09)
    The 'belief-weighted Nash social welfare functions' are methods for aggregating Savage preferences defined over a set of acts. Each such method works as follows. Fix a 0-normalized subjective expected utility representation of every possible preference ...
  • Bandits in the Lab 

    Hoelzemann, Johannes; Klein, Nicolas (Université de Montréal. Département de sciences économiques., 2018-08)
    We test Keller, Rady, Cripps’ (2005) game of strategic experimentation with exponential bandits in the laboratory. We find strong support for the prediction of free-riding because of strategic concerns. We also find strong evidence for behavior that ...
  • Precision may harm: The comparative statics of imprecise judgement 

    Horan, Sean; Manzini, Paola (Université de Montréal. Département de sciences économiques., 2018-08)
    We consider an agent whose information about the objects of choice is imperfect in two respects: first, their values are perceived with ‘error’; and, second, the realised values cannot be discriminated with absolute ‘precision’. Reasons for imprecise ...
  • Strategic investment and learning with private information 

    Klein, Nicolas; Wagner, Peter (Université de Montréal. Département de sciences économiques., 2018-08)
    We study a two-player game of strategic experimentation in which agents choose the timing of investments which yield uncertain returns over time. Agents learn about future returns through privately observed signals, others’ investment decisions and ...
  • Innovation growth clusters : Lessons from the industrial revolution 

    Dudley, Leonard; Rauh, Christopher (Université de Montréal. Département de sciences économiques., 2018-08)
    Over three centuries ago, a new technology suddenly increased the amount and frequency of available information. Might such «Big Data» have disrupted the causal relationships linking economic growth and innovation? Previous research has affirmed that ...
  • The birth of the congressional clinic 

    Godefroy, Raphaël (Université de Montréal. Département de sciences économiques., 2018-08)
    This paper studies the impact of mortality in the districts/states represented in key congressional groups (i.e. committees, subcommittees, and parties) on the National Institutes of Health (NIH) allocation of medical research funds across diseases, ...
  • The impact of uncertainty in agriculture 

    Godefroy, Raphaël; Lewis, Joshua (Université de Montréal. Département de sciences économiques., 2018-08)
    Income uncertainty in the rural economy is widely considered an important impediment to growth in poor countries. This paper uses a rich dataset on productivity, land use, and output for 17 different crops across 500,000 plots of land in 87 countries ...
  • Organizing time banks: Lessons from matching markets 

    Andersson, Tommy; Cseh, Agnes; Ehlers, Lars; Erlanson, Albin (Université de Montréal. Département de sciences économiques., 2018-07)
    A time bank is a group of people that set up a common platform to trade services among themselves. There are several well-known problems associated with this type of time banking, e.g., high overhead costs and difficulties to identify feasible trades. ...
  • Bootstrapping factor models with cross sectional dependence 

    Gonçalves, Sílvia; Perron, Benoit (Université de Montréal. Département de sciences économiques., 2018-07)
    We consider bootstrap methods for factor-augmented regressions with cross sectional dependence among idiosyncratic errors. This is important to capture the bias of the OLS estimator derived recently by Gonçalves and Perron (2014). We first show that a ...
  • Monetary policy in sudden stop-prone economies 

    Coulibaly, Louphou (Université de Montréal. Département de sciences économiques., 2018-06)
    In a model featuring sudden stops and pecuniary externalities, I show that the ability to use capital controls has radical implications for the conduct of monetary policy. Absent capital controls, following an inflation targeting regime is nearly ...
  • Asset pledgeability and endogenously leveraged bubbles 

    Bengui, Julien; Phan, Toan (Université de Montréal. Département de sciences économiques., 2018-06)
    We develop a simple model of defaultable debt and rational bubbles in the price of an asset, which can be pledged as collateral in a competitive credit pool. When the asset pledgeability is low, the down payment is high, and bubble investment is ...
  • Gale's fixed tax for exchanging houses 

    Andersson, Tommy; Ehlers, Lars; Svensson, Lars-Gunnar; Tierney, Ryan (Université de Montréal. Département de sciences économiques., 2018-06)
    We consider the taxation of exchanges among a set of agents where each agent owns one object. Agents may have different valuations for the objects and they need to pay taxes for exchanges. Using basic properties, we show that if pairwise (or some) ...
  • Discrimination without taste : How discrimination can spillover and persist 

    Ramachandran, Rajesh; Rauh, Christopher (Université de Montréal. Département de sciences économiques., 2018-06)
    We introduce coordination failures driven by beliefs regarding the presence of taste discriminators as a channel of discrimination in productive activities requiring the input of multiple agents. We show that discrimination can persist under perfectly ...
  • Robust design in monotonic matching markets : a case for firm-proposing deferred-acceptance 

    Ehlers, Lars; Masso, Jordi (Université de Montréal. Département de sciences économiques., 2018-05)
    We study two-sided matching markets among workers and firms. Workers seek one position at a firm but firms may employ several workers. In many applications those markets are monotonic: leaving positions unfilled is costly as for instance, for hospitals ...
  • Positively responsive collection choice rules and majority rule: a generalization of May's theorem to many alternatives 

    Horan, Sean; Osborne, Martin J.; Sanver, M. Remzi (Université de Montréal. Département de sciences économiques., 2018-04)
    A collective choice rule selects a set of alternatives for each collective choice problem. Suppose that the alternative ’x’, is in the set selected by a collective choice rule for some collective choice problem. Now suppose that ‘x’ rises above another ...
  • Externalities and the nucleolus 

    Alvarez-Mozos, Mikel; Ehlers, Lars (Université de Montréal. Département de sciences économiques., 2017-09)
    In most economic applications, externalities prevail: the worth of a coalition depends on how the other players are organized. We show that there is a unique natural way of extending the nucleolus from (coalitional) games without externalities to games ...
  • Relative Nash welfarism 

    Sprumont, Yves (Université de Montréal. Département de sciences économiques., 2017-09)
    Relative Nash welfarism is a solution to the problem of aggregating von Neumann-Morgenstern preferences over a set of lotteries. It ranks such lotteries according to the product of any collection of 0-normalized von Neumann-Morgenstern utilities they ...
  • (Il)legal Assignments in School Choice 

    Ehlers, Lars; Morrill, Thayer (Université de Montréal. Département de sciences économiques., 2017-05)
    In public school choice, students with strict preferences are assigned to schools. Schools are endowed with priorities over students. Incorporating different constraints from applications, priorities are often modeled as choice functions over sets ...
  • Strategyproof Choice of Acts : Beyond Dictatorship 

    Bahel, Éric; Sprumont, Yves (Université de Montréal. Département de sciences économiques., 2017-05)
    We model social choices as acts mapping states of nature to (public) outcomes. A social choice function (or SCF) assigns an act to every profile of subjective expected utility preferences over acts. A SCF is strategyproof if no agent ever has an incentive ...
  • Assigning Refugees to Landlords in Sweden: Stable Maximum Matchings 

    Andersson, Tommy; Ehlers, Lars (Université de Montréal. Département de sciences économiques., 2016-12)
    The member states of the European Union received 1.2 million first time asylum applications in 2015 (a doubling compared to 2014). Even if asylum will be granted for many of the refugees that made the journey to Europe, several obstacles for successful ...