### Séminaires

# Séminaire théorie économique Roy-Adres

Le séminaire Roy propose des présentations de travaux dont l’objet principal est le développement de la théorie économique, notamment au travers de ses ramifications vers différents domaines plus appliqués (organisation industrielle, microstructure des marchés, assurance, finance, économie publique, vote et économie des institutions

politiques, macroéconomie, marché du travail, etc.) et d’un dialogue avec les méthodologies qui lui sont complémentaires (économétrie structurelle, économie expérimentale).

- Correspondante administrative : Sophie Gozlan

Ce séminaire est organisé par Francis Bloch, Catherine Bobtcheff, Sidartha Gordon et Matias Nunez

## Prochainement

**Lundi 11 mars 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**EROL Selman**(CMU) :__*__

**Lundi 18 mars 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**FLECKINGER Pierre**(Ecole des Mines de Paris) :__*__

**Lundi 25 mars 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**FRICK Mira**(Yale) :__*__

**Lundi 1er avril 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**HERRERA Helios**(Warwick) :__*__

**Lundi 8 avril 2019 17:00-18:30**- R1-09, campus Jourdan - 75014 Paris
**GOYAL Sanjeev**(University of Cambridge) :__Competing to be a star__- Résumé*

**Lundi 15 avril 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**RENY Philip**(University of Chicago) :__*__

**Lundi 6 mai 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**WEBB Ryan**(U of Toronto) :__*__

**Lundi 13 mai 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LOEPER Antoine**(UC3M) :__*__

**Lundi 20 mai 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**PEREZ David**(Sciences Po ) :__*__

**Lundi 27 mai 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**EKMEKCI Mehmet**(Boston College) :__*__

**Lundi 3 juin 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MURTO Pauli**(Aalto University) :__*__

## Archives

**Lundi 18 février 2019 17:00-18:30**- salle R1-09, campus Jourdan - 75014 Paris
**CANTILLON Estelle**(Université Libre de Bruxelles) :__What is price discovery achieving in the New Zealand electricity market ?__**Stefan Bergheimer**- RésuméWholesale electricity markets solve a complex allocation problem: electricity is not storable, demand is uncertain, production is inelastic in the short run and can involve indivisibilities. The New Zealand wholesale electricity market attempts to solve this complex allocation problem by using a price and quantity discovery mechanism that ends one hour before dispatch. We show that while the existing mechanism may help deal with production efficiency, it facilitates the exertion of market power. We provide preliminary evidence about this tradeoff and document the role played by this price and quantity mechanism in this market.

**Lundi 11 février 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LEVY Gilat**(London School of Economics) :__Persuasion with correlation neglect__**Ines Moreno de Barreda and Ronny Razin**- RésuméWe consider an information design problem in which a sender tries to persuade a receiver that has correlation neglect, i.e., fails to understand that signals might be correlated. We show that the sender can change the expected posterior of the receiver in any direction. When the number of signals the sender can send is large, she can approach her first best utility. We characterize for which environments full correlation is the optimal solution; in these cases we can use a modified problem and standard concavification techniques. We show that full correlation is optimal in the familiar case of binary utilities but also more generally when utilities are super-modular and when the number of signals is large. However, in some environments full correlation is not optimal and in those cases the optimal solution involves negative correlation
- Texte intégral [pdf]

**Lundi 4 février 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MENSCH Jeffrey**(The Hebrew University of Jerusalem) :__Rational Inattention and the Monotone Likelihood Ratio Property__- RésuméA commonly assumed feature of games with complementarities is that players have noisy signals of the underlying state of the world that are ordered by the monotone likelihood ratio property (MLRP). At the same time, a large literature has recently explored the behavior of rationally inattentive agents. I provide a connection between these two literatures, showing that a decision maker with payoffs that satisfy increasing differences (ID) will always acquire signals that are ordered by the MLRP if and only if he has attention costs proportional to entropy reduction. I extend this result to games, providing conditions under which players first acquire MLRP-ordered signals, and then choose higher actions given higher realizations of the signals. Applications are given to global games and independent private-value auctions.

**Lundi 28 janvier 2019 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**AUSTEN-SMITH David**(Northewestern University) :__Optimal exploration__**César Martinelli**- RésuméConsider a decision maker who has to choose one of several alternatives, and who is imperfectly informed about the payoff of each of them. In each period, the decision maker has to decide whether to stop and take one of the alternatives, or to continue researching the alternatives. New information is costly and is never conclusive. We provide a dynamic programming formulation of the decision maker’s problem with either a finite deadline or no deadline, and give necessary and sufficient conditions for research to take place for some prior beliefs about the alternatives. We show that, at least for short deadlines and situations in which there is a strictly positive probability the decision maker stops searching in the next period under the optimal plan, the decision maker either explores the best alternative and stops after good news, or explores the second best alternative and stops after bad news, with the former path being optimal if the decision maker is relatively optimistic about the payoff of the alternatives. On the other hand, an example shows that searching the third best alternative can be optimal when there are more than three remaining search periods and there is no likelihood of stopping in the next period.
- Texte intégral [pdf]

**Lundi 17 décembre 2018 17:00-18:30**- salle R1-09, campus Jourdan - 75014 Paris
**PESKI Marcin**(University of Toronto) :__Bargaining with Incomplete Information about Preferences__- RésuméWe study a war-of-attrition bargaining over a pie with heterogeneous parts, where players have incomplete information over their opponent preferences as well as behavioral types. Before the war of attrition, players choose their bargaining demands. If the preference uncertainty has a full support and players demands are simple offers, then, in equilibrium, players divide each part of the pie equally. Next, we consider the case when each player may demand that the opponent chooses from a menu of allocations. In the on-sided incomplete information case, the player with known preferences proposes a menu of all allocations that give her at least a half of the value of the whole pie; such a menu is accepted. Finally, we show that the war of attrition game with two sided incomplete information may have multiple equilibria.

**Lundi 10 décembre 2018 17:00-18:30**- salle R1-09, campus Jourdan - 75014 Paris
**SANNIKOV Yully**(Stanford Graduate School of Business) :__Dynamic Trading: Price Inertia and Front-Running__**Andy Skrzypacz**- RésuméWe build a linear-quadratic model to analyze trading in a market with private information and heterogeneous agents. Agents receive private taste/inventory shocks and trade continuously. Agents differ in their need for trade as well as the cost to hold excessive inventory. In equilibrium, trade is gradual. Trading speed depends on the number and market power of participants, and trade among large market participants is slower than that among small ones. Price has momentum due to the actions of large traders: it drifts down if the sellers have greater market power than buyers, and vice versa. The model can also answer welfare questions, for example about the social costs and benefits of market consolidation. It can also be extended to allow private information about common value.
- Texte intégral [pdf]

**Lundi 3 décembre 2018 17:00-18:30**- salle R1-09, campus Jourdan - 75014 Paris
**SAHUGUET Nicolas**(HEC Montréal) :__On the Optimality of Closed Lists under Proportional Representation__**Benoit Crutzen and Sabine Flamand**- RésuméA large number of democracies rely at least partially on closed-list proportional representation for their legislative elections. With closed lists, voters can only vote for a party, not candidates. The literature often associates closed lists with perverse incentives for individual candidates. We reconsider this argument in a model of a contest between teams for multiple individual prizes. We show that closed lists can actually maximize a party's electoral success. Our finding is robust to allowing for the introduction of biases in the contest due to voter ideological preferences, having more than two parties competing in the election, candidates also caring about their party winning a majority of legislative seats and allowing parties to offer lists with more candidates than the number of available prizes.

**Lundi 26 novembre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LIPNOVSKI Elliot**(U. of Chicago) :__Cheap Talk with Transparent Motives__**Doron Ravid**- RésuméWe study a model of cheap talk with one substantive assumption: the sender’s preferences are state-independent. We observe that this setting is amenable to the belief-based approach familiar from models of persuasion with commitment. Using this approach, we examine the possibility of valuable communication, assess the value of commitment, and explicitly solve for senderoptimal equilibria in a large class of examples. A key result is a geometric characterization of the value of cheap talk, described by the quasiconcave envelope of the sender’s value function. (JEL D83, D82, M37, D86, D72)

**Lundi 19 novembre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MOLDOVANU Benny**(Bonn University) :__Monotonic norms, orthogonality and incentive compatibility in multi-dimensional voting__- RésuméWe study issue-by-issue voting and robust mechanism design in multi-dimensional frameworks where privately informed agents have preferences induced by general norms (distances). We uncover the deep connections between dominant strategy incentive compatibility (DIC) on the one hand, and several geometric/functional analytic concepts on the other. Our main results are: 1) Marginal medians are DIC if and only if they are calculated with respect to a basis such that the norm is orthant-monotonic in the associated coordinate system. 2) Equivalently, marginal medians are DIC if and only if they are computed with respect to coordinates determined by an Auerbach basis such that, for any vector in the basis, any linear combination of the other vectors is Birkhoff-James orthogonal to it. 3) We show how semi-inner products and normality provide an analytic method that can be used to compute all DIC marginal medians. 4) As an application, we derive all DIC marginal medians for lp spaces of any finite dimension, and show that they do not depend on p (unless p = 2).

**Lundi 12 novembre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**BOUTON Laurent**(Georgetown University) :__Electoral Systems and Inequalities in Government Interventions__- RésuméThis paper studies the political determinants of inequality in government interventions under the majoritarian and proportional representation systems. Using a model of electoral competition with targetable government intervention and heterogeneous localities, we uncover a novel relative electoral sensitivity effect in majoritarian systems. This effect, which depends on the geographic distribution of voters, can incentivize parties to allocate resources more equally under majoritarian systems than proportional representation systems. This contrasts with the conventional wisdom that government interventions are more unequal in majoritarian systems.
- Texte intégral [pdf]

**Lundi 5 novembre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LI Yang**:__Information order in monotone decision problems under uncertainty__**Junjie Zhou**- RésuméThis paper examines the robustness of Lehmann’s ranking of experiments (Lehmann, 1988) for decisionmakers who are uncertainty-averse à la Cerreia-Vioglio et al. (2011). Assuming commitment, the main result says for all uncertainty-averse indices satisfying some mild assumptions, Lehmann’s informativeness ranking is equivalent to the induced uncertainty-averse value ranking of experiments for all agents with single-crossing vNM utility indices. Our finding suggests that Lehmann’s ranking can be a useful enrichment of Blackwell’s ranking for monotone decision problems even if ambiguity is present.
- Texte intégral [pdf]

**Lundi 15 octobre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**CRIPPS Martin**(University College London ) :__Divisible Updating__- RésuméA characterisation is provided of the belief updating processes that are independent of how an individual chooses to divide up/partition the statistical information they use in their updating. These \divisible updating processes are in general not Bayesian, but can be interpreted as a re-parameterisation of Bayesian updating. This class of rules incorporates over- and under-reaction to new information in the updating and other biases. We also show that a martingale property is, then, sufficient the updating process to be Bayesian. Very Preliminary!!

**Lundi 8 octobre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SADLER Evan**(Harvard) :__Social Learning, False Information, and Influence Campaigns__- RésuméIn a model of social learning with coarse beliefs, we find qualitatively different outcomes from those in standard models: disagreement is generic, influence is multi-faceted, and information aggregation becomes impossible. We obtain a natural framework in which to study echo chambers and various strategies to manipulate beliefs in a population. I characterize a multi-dimensional measure of influence and evaluate three distinct interventions: changing minds, sowing doubt, and propaganda.

**Lundi 1er octobre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**RUSTICHINI Aldo**(U of Minnesota) :__Bioeconomics: two examples__- RésuméBioeconomic describes the research program that aims at laying the foundation of the analysis of economic and strategic behavior on its biological foundation. Bioeconomics takes seriously the hypothesis that human economic behavior is biologically based: to the first order approximation, institutions are downstream from politics, politics is downstream from culture, culture is downstream from biology. In the talk I will present two papers illustrating the concept in action. In the first and second paper I describe how a foundation of stochastic choice on the process determining choice allows us to obtain a precise characterization of individual characteristics producing the choices; not just the economic characteristics (for example, the discount factor in a delayed payments choice task) but also the care and skill used in choice. In the third paper I describe how we can now link educational and economic success, and hence the analysis of intergenerational mobility and inequality, to the genotype of the individuals, and identify the pathways of the effects. The theory is based on classical models of parental investment, extended to consider the genetic profile of the population.

**Lundi 24 septembre 2018 17:00-18:30**- salle R1-09, campus Jourdan - 75014 Paris
**BOGOMOLNAIA Anna**(University of Glasgow) :__Fair Division of random objects__**H Moulin, F Sandomirskyi**- RésuméFair Division of random objects A Bogomolnaia, H Moulin, F Sandomirskyi Objects arrive randomly, and must be allocated on the spot between a ?xed set of bene?ciaries. We explore the tradeo¤ between the concerns for Fairness and the utilitarian measure of E¢ ciency: Fair Share guarantees to each agent, in expectation and in each period, at least 1/n-th of the value to him of the goods (or at most 1/n-th of the disutility of the bads); E¢ ciency assigns goods to those who value them most (or bads to those who dislike them least). Even a Bayesian manager (who knows in each period the full probability distribution of utility pro?les) faces a steep (and well known) Price of Fairness: in the worst case implementing Fair Share allows her to capture only a O( 1 pn) fraction of the e¢ cient surplus. A Prior-free manager who only knows the expectation of individual utilities in each period (or just the ratios of these expectations), but neither the actual distribution in any period, nor the number of periods, ensures Fair Share by the simple Proportional rule: agents get the object with probabilities proportional to their (normalized) utilities (or disutilities). We de?ne the equally simple one-dimensional family of Top Heavy rules and show that they capture the optimal tradeo¤s between fairness and e¢ ciency: any other prior-free rule meeting Fair Share is less e¢ cient ex post (for every realization of utilities) than one of our rules. In particular the Proportional rule is substantially less e¢ cient than one of our rules. Moreover the Top Heavy rules pay the same Price of Fairness as the best Bayesian rules. 1

**Lundi 17 septembre 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**RICHTER Michael**(Royal Holloway) :__Normative Equilibrium: The permissible and the forbidden as devices for bringing order to economic environments__- RésuméWe introduce the notion of a normative equilibrium as a method which brings harmony to "general equilibrium" like environments where individuals make preference-maximizing choices but not every profile of choices is feasible. In an equilibrium, norms stipulate what is permissible and what is forbidden. These uniform norms play a role analogous to that of price systems in competitive equilibrium and also feature some element of "fairness" since all individuals face the same choice set. The solution concept is a maximally permissive set of alternatives that is consistent with the existence of a profile of optimal choices which is feasible. Properties of the solution concept are analysed and the concept is applied to a variety of economic settings.
- Texte intégral [pdf]

**Lundi 11 juin 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LIPMAN Barton**(Boston University) :__Acquisition of/Stochastic Evidence__

**Lundi 28 mai 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**FEINMESSER Itay**(Johns Hopkins University) :__The Market for Influence__- RésuméMuch of the content we consume comes from onlineresources. We read news on Facebook and Twitter and learn about new products and services from Instagram and blogs. This paper builds a parsimonious economic model that captures the interplay between contentcreators (or influencers), consumers (or followers), and firms (or marketers) in the provision of content on the internet, and in influencing economic activity in the market for goods. We derive a unique equilibrium with the following properties: First, high ability influencers post more sponsored content, and this adversely affects the experience of their followers. Still, high ability influencers deliver, in equilibrium, better experience then low ability ones. As a result, high ability influencers have more followers, and receive a higher per-post price. Surprisingly, the per-reader price that an influencer receives declines with her popularity, a result that is confirmed by marketing data. We uncover equilibrium inefficiencies that are exacerbated by search frictions in the market and analyze the recent recommendation of the Federal Trade Commission (FTC) to apply “The FTC’s Endorsement Guides” to content created by individual influencers. Under a wide range of parameters, such policy may be detrimental to followers’ welfare and total surplus.

**Lundi 14 mai 2018 17:00-18:30**- Salle R1-13, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MUELLER-FRANK Manuel**(IESE Barcelona) :__Social Learning Equilibria__**With Elchanan Mossel, Allan Sly and Omer Tamuz**- RésuméWe consider social learning settings in which a group of agents face uncertainty regarding a state of the world, observe private signals, share the same utility function, and act in a general dynamic setting. We introduce Social Learning Equilibria, a static equilibrium concept that abstracts away from the details of the given dynamics, but nevertheless captures the corresponding asymptotic equilibrium behavior. We establish strong equilibrium properties on agreement, herding, and information aggregation.

**Lundi 7 mai 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**DEBASIS Mishra**(India Statistical Institute Dehli) :__Selling to a naive agent with two rationales__- RésuméA seller is selling an object to an agent who uses two rationales to compare pairs of outcomes - (allocation probability, transfer) pairs. Each rationale is generated by quasilinear preference over the outcome space, and hence, can be represented by a val- uation. However, the agent faces a budget constraint when making decisions using the rst rationale. The agent compares any pair of outcomes using his pair of valuations in a lexicographic manner: rst, he compares using the valuation corresponding to the rst rationale; then, he compares using the valuation corresponding to the second ra- tionale if and only if the rst rationale cannot compare (due to budget constraint). We show that the optimal mechanism is either a posted price mechanism or a mechanism involving a pair of posted prices (a menu of three outcomes). In the latter case, the optimal mechanism involves randomization and pools types in the middle.
- Texte intégral [pdf]

**Lundi 9 avril 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**DEB Rahul**(University of Toronto, combined with TSE) :__Screening (#FakeNews) in the Attention Economy__- RésuméA substantial fraction of the online economy is financed by attention: frequently, consumers do not pay for the content they access and, instead, clicks are monetized by content providers (via advertising). We study a novel dynamic principal-agent framework in which the principal (a consumer) decides in each period if she should pay costly attention to the agent (a content provider), privately known to be genuine or fake. Genuine providers choose whether or not to release stochastically arriving content of varying quality whereas "fake news" sources can generate fake news at will. The consumer's payoff depends on the (publicly observed and quality dependent) realized accuracy of the content. Our main result demonstrates how the presence of fake news sources distorts the behavior of genuine content providers: in all equilibria (subject to a mild refinement), both poor quality content (by genuine providers) and fake news (by fake news sources) must occur on path. These distortions are features of the attention economy and do not arise if the principal can commit or use transfers.

**Lundi 26 mars 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**GUERDJIKOVA Ani**(Université de Grenoble) :__Heuristic Modes of Decision Making and Survival in Financial Markets__

**Lundi 19 mars 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**YARIV Leeat**(Princeton University) :__On the Efficiency of Stable Matchings in Large Markets__**with SangMok Lee**- RésuméStability is often the goal for matching clearinghouses, such as those matching residents to hospitals, students to schools, etc. We study the wedge between stability and utilitarian efficiency in large one-to-one matching markets. We show stable matchings are efficient asymptotically for a rich preference class. The speed at which efficiency of stable matchings converges to its optimum depends on the underlying preferences. Furthermore, for severely imbalanced markets governed by idiosyncratic preferences, or when preferences are sub-modular, stable outcomes may be inefficient asymptotically. Our results can guide market designers who care about efficiency as to when standard stable mechanisms are desirable.

**Lundi 12 mars 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**VANNETELBOSCH Vincent**(CORE, Université catholique de Louvain) :__R&D Network Formation with Myopic and Farsighted Firms__- RésuméWe analyze the formation of bilateral R&D collaborations in an oligopoly when each ?rm bene?ts from the research done by other ?rms it is connected to. Firms can be either myopic or farsighted when deciding about the links they want to form. Which R&D networks are likely to emerge with farsighted or myopic ?rms? Which ?rms are more likely to occupy key positions in the R&D network? What is the relationship between the stable R&D network structures and the social welfare? We propose the notion of myopic- farsighted stable set to determine the R&D networks that emerge when some agents are myopic while others are farsighted. A myopic-farsighted stable set is the set of networks satisfying internal and external stability with respect to the notion of myopic-farsighted improving path. Stable R&D networks consist of two components where the larger group of ?rms derive from their R&D collaborations a greater competitive advantage relative to the other group. If there is a majority of myopic ?rms, they form two components of nearly equal size. However, if more than half of the ?rms are farsighted, the largest component comprises roughly three-quarters of ?rms, with farsighted ?rms having in average a higher degree and betweenness centrality than myopic ?rms. However, some myopic ?rms may have a high (if not the highest) betweenness centrality. Thus, even if myopic ?rms are less active in terms of R&D collaborations they may play a crucial role for spreading the innovation within the component. Suppose now that, in addition of myopic and farsighted private ?rms, some ?rms are public ones. We show that (myopic or farsighted) public ?rms can help to stabilize some e¢ cient R&D networks by occupying key positions in the networks. Finally, we study the dynamics of R&D networks starting from an initial state where all ?rms are myopic, and where at each subsequent period some myopic ?rms become farsighted.

**Lundi 5 mars 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MIERENDORFF Konrad**(University College London) :__Optimal Sequential Decision with Limited Attention__**with Yeon-Koo Che**- RésuméWe consider a dynamic model of information acquisition. Before taking an action, a decision maker may direct her limited attention to collecting different types of evidence that support alternative actions. The optimal policy combines three strategies: (i) immediate action, (ii) a contradictory strategy seeking to challenge the prior belief, and (iii) a confirmatory strategy seeking to confirm the prior. The model produces a rich dynamic stochastic choice pattern as well as predictions in settings such as jury deliberation and political media choice. Keywords: Wald sequential decision problem, choice of information, contradictory and confirmatory learning strategies, limited attention.

**Lundi 12 février 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**ALOS-FERRER Carlos**(University of Zurich) :__Imperfect Bayesians: A Process Model and Evidence from Response Times__- RésuméPeople are not Bayesians. Or are they? This work discusses a simple process model of faulty decision making where deliberative processes standing in for Bayesian updating compete with simpler heuristics, resulting in predictable error and response-time patterns. The predictions are then tested in a decision-making experiment on belief updating where opposite biases can occur, representativeness (overweighting the sample information due to stereotypical appearances) and conservatism (overweighting the prior).

**Lundi 5 février 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SPRUMONT Yves**(Université de Montréal) :__Strategy-proof Choice of Acts__**Eric Bahel**- RésuméWe model uncertain social prospects 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 to misrepresent her beliefs about the states of nature or her valuation of the outcomes; it is ex-post efficient if the act selected at any given preference profile picks a Pareto-efficient outcome in every state of nature. We offer a complete characterization of all strategyproof and ex-post efficient SCFs. The chosen act must pick the most preferred outcome of some (possibly different) agent in every state of nature. The set of states in which an agent's top outcome is selected may vary with the reported belief profile; it is the union of all the states assigned to her by a collection of constant, bilaterally dictatorial, or bilaterally consensual assignment rules.
- Texte intégral [pdf]

**Lundi 29 janvier 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**VIDA Peter**(Université de Cergy-Pontoise) :__Strategic Stability of Equilibria in Multi-Sender Signaling Games__

**Lundi 22 janvier 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**JEWITT Ian**(Oxford) :__Selecting from an Endogenous Pool of Applicants__

**Lundi 15 janvier 2018 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**ZAPECHELNYUK Andrei**(University of St Andrews) :__A delegation approach to persuasion__- RésuméWe study a monotone persuasion problem. This is a problem of Bayesian persuasion between a principal and an agent, in which the principal's choice of information disclosure is restricted to monotone partitions. We show that this problem is equivalent to a constrained delegation problem, with the implication that solving one problem also means solving the other. We use this equivalence to apply known techniques in the delegation literature to address the monotone persuasion problem.

**Lundi 11 décembre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**NAVA Francesco**(LSE) :__“Differentiated Durable Goods: Competition and Market Power”__

**Lundi 4 décembre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**KLAUS Bettina**:__Serial Dictatorship Mechanisms with Reservation Prices__- RésuméAbstract: We propose a new set of mechanisms, which we call serial dictatorship mechanisms with reservation prices for the allocation of one indivisible good. We show that a mechanism satisfies minimal tradability, individual rationality, strategy-proofness, consistency, and non wasteful tie-breaking if and only if there exists a reservation price vector and a priority ordering such that the mechanism is a serial dictatorship mechanism with reservation prices. We obtain a second characterization by replacing individual rationality with non-imposition. In both our characterizations the reservation price vector, the priority ordering, and the mechanism are all found simultaneously and endogenously from the properties. In addition, we show that in our model a mechanism satisfies Pareto efficiency, strategy-proofness, and consistency if and only if it is welfare equivalent to a classical serial dictatorship. Finally, we illustrate how the normative requirements governing the functioning of some real life markets and the mechanisms that these markets use are reasonably well captured by our model and results.

**Lundi 27 novembre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**APESTEGUIA Jose**:__Separating Predicted Randomness from Noise__- RésuméAbstract: Given observed stochastic choice data and a model of stochastic choice, we offer a methodology that allows to separate the data representing the randomness that is inherent to the model from what is noisy behavior. In so doing, we quantify the maximal fraction of the data consistent with the model. We show how to implement our approach to any model of stochastic choice. We then study the case of four well-known models, that capture different notions of randomness. Finally, we illustrate our results with an experimental dataset.

**Lundi 20 novembre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**ESPONDA Ignacio**(UC Santa Barbara ) :__Equilibrium in Bayesian Markov Decision Processes__**Demian Pouzo**- RésuméAbstract: We provide an equilibrium framework for modeling the behavior of an agent who holds a simplified view of a dynamic optimization problem. The agent faces a Markov Decision Process, where a transition probability function determines the evolution of a state variable as a function of the previous state and the agent's action. The agent is uncertain about the true transition function and has a prior over a set of possible transition functions; this set reflects the agent's (possibly simplified) view of her environment and may not contain the true function. We define an equilibrium concept and provide conditions under which it characterizes steady-state behavior when the agent updates her beliefs using Bayes' rule. Unlike the case for static environments, however, an equilibrium approach for the dynamic setting cannot be used to characterize those steady states where the agent perceives that learning is incomplete. Two key features of our approach is that it distinguishes between the agent's simplified model and the true primitives and that the agent's belief is determined endogenously in equilibrium.

**Lundi 13 novembre 2017 17:00-18:30**- Salle R1-13, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**KREMER Ilan**(Warwick) :__Raising Capital from Heterogeneous Investors__- RésuméA firm raises capital from heterogeneous investors to fund a project. The project is implemented only if the total capital raised exceeds an initially unknown threshold, and the firm offers payments depending on project implementation. We study the firm’s optimal self-financing scheme that maximizes its payoff subject to all investors participating being the unique equilibrium outcome. The optimal scheme features full collateral: if the project is not implemented, each investor is refunded her capital. Under implementation, however, net returns differ across investors. If the distribution of the investment threshold is log-concave, the firm offers higher returns to larger investors. Moreover, higher dispersion in investor size raises the firm’s payoff.

**Lundi 6 novembre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**LAUERMANN Stephan**(Bonn) :__Costly Advice"__**Mehmet Ekmekci (Boston College)**- RésuméAbstract We study a scenario in which a receiver is collecting non-binding advice for a binary decision from partially informed senders who can send binary messages. This reflects situations such as non-binding voting of shareholders on a management proposal. Under complete information, the preferences of the receiver and the senders are aligned but there is a conflict of interest over the trade-off of Type I and Type II errors. Existing work shows that for many such situations, the bias prohibits the transmission of any information. Here, in contrast to this work, we consider a setting in which one of the messages is costly. For example, there are positive costs of voting but no costs of abstention. We show that informative advice is given in any equilibrium. When there are many senders, with costly advice, the outcome is equivalent to the one under complete information.

**Lundi 16 octobre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**PENTA Antonio**(UW-Madison) :__Rationalizability and Observability__

**Lundi 9 octobre 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**WOLITZKY Alexander**(MIT) :__Learning from Others' Outcomes__- RésuméAbstract: I develop a simple model of social learning in which players observe others' outcomes but not their actions. There is a continuum of players, and each player chooses once-and-for-all between a safe action (which succeeds with known probability) and a risky action (which succeeds with fixed but unknown probability, depending on the state of the world). The actions also differ in their costs. Before choosing, a player observes the outcomes of K others. There is always an equilibrium in which success is more likely in the good state, and this regularity property holds whenever the initial generation of players is not well-informed about the state. In the case of an outcome-improving innovation (where the risky action may yield a higher probability of success), players take the correct action as K??. In the case of a cost-saving innovation (where the risky action involves saving a cost but accepting a lower probability of success), inefficiency persists as K?? in any regular equilibrium. Whether inefficiency takes the form of under-adoption or over-adoption also depends on the nature of the innovation. Convergence of the population to equilibrium may be non-monotone.

**Lundi 2 octobre 2017 17:00-18:30**- salle R1-09, campus Jourdan, 48 boulevard Jourdan - 75014 Paris
**SANTIAGO OLIVEROS**(University of Essex) :__`Collective Hold-Up__**with Matias Iaryczower**

**Lundi 18 septembre 2017 17:00-18:30****La séance a été annulée.**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**MYLOVANOV Tymofiy**(University Pittsburgh) :__*__

**Lundi 26 juin 2017 17:00-18:30**- salle R2-01, campus Jourdan, 48 boulevard Jourdan, 75014 Paris
- *

**Lundi 19 juin 2017 17:00-18:30**- Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SORENSEN Peter Norman**(Université de Copenhague) :__Strategic Sample selection__- RésuméWhat is the impact of sample selection on the inference payoff of an evaluator testing a simple hypothesis based on the outcome of a location experiment? Compared to a random data point, data selected as the highest of several observations is less dispersed and thus always increases the evaluator’s welfare if and only if quantile density of the noise distribution is less elastic than for the Gumbel distribution, as with logistic or normal noise. More generally, we characterize the welfare impact of sample selection depending on its effect on local dispersion. Also, we show that extreme selection benefits the evaluator. The results are applied to the analysis of strategic sample selection by a biased researcher who strategically selects the most favorable of several observations.
- Texte intégral [pdf]

**Lundi 12 juin 2017 17:00-18:30**- Salle R1-15, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**BACCARA Mariagiovanna**:__Optimal Dynamic Matching__- RésuméAbstract We study a dynamic matching environment where individuals arrive sequentially. There is a tradeoff between waiting for a thicker market, allowing for higher quality matches, and minimizing agentsí waiting costs. The optimal mechanism cumulates a stock of incongruent pairs up to a threshold and matches all others in an assortative fashion instantaneously. In decentralized settings, a similar protocol ensues in equilibrium, but expected queues are inefficiently long. We quantify the welfare gain from centralization, which can be substantial, even for low waiting costs. We also evaluate welfare improvements generated by transfer schemes and by matching individuals in fixed time intervals.

**Lundi 29 mai 2017 17:00-18:30**- Salle R1-15, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**DUTTA Bhaskar**(U of Warwick) :__Coalition formation with history dependence__**joint with Hannu Vartiainen**- RésuméAbstract. Farsighted formulations of coalitional formation, for instance by Harsanyi (1974) and Ray and Vohra(2015), have typically been based on the von Neumann-Morgenstern (1944) stable set. These farsighted stable sets use a notion of indirect dominance in which an outcome can be dominated by a chain of coalitional ‘moves’ in which each coalition that is involved in the sequence eventually stands to gain. Dutta and Vohra(2016) point out that these solu- tion concepts do not require coalitions to make optimal moves. Hence, these solution concepts can yield unreasonable predictions. Dutta and Vohra (2016) restricted coalitions to hold common, history independent expectations that in- corporate optimality regarding the continuation path. This paper extends the Dutta-Vohra analysis by allowing for history dependent expectations. The pa- per provides characterization results for two solution concepts corresponding to two versions of optimality. It demonstrates the power of history dependence by establishing non-emptyness results for all finite games as well as transferable utility partition function games. The paper also provides partial comparisons of the solution concepts to other solutions.

**Lundi 22 mai 2017 17:00-18:30**- Salle R1-15, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**GUO Yingni**(Northwestern) :__The Interval Structure of Optimal Disclosure__**Eran Shmaya**- RésuméAbstract A sender persuades a receiver to accept a project by disclosing information regarding a payoff-relevant state. The receiver has private information about the state, referred to as his type. We show that the sender-optimal mechanism takes the form of nested intervals: each type accepts on an interval of states and a more optimistic type’s in- terval contains a less optimistic type’s interval. This nested-interval structure offers a simple algorithm to solve for the optimal disclosure and connects our problem to monopoly screening problems. The mechanism is optimal even if the sender conditions the disclosure mechanism on the receiver’s reported type.
- Texte intégral [pdf]

**Lundi 15 mai 2017 17:00-18:30**- Salle R1-15, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SAMUELSON Larry**(Yale) :__Agreeing to Disagree in Large Worlds__**Itzhak Gilboa and David Schmeidler**

**Lundi 24 avril 2017 17:00-18:30**- Salle R1-15, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SEIDMANN Daniel**(University of Nottingham) :__The first and last word in debates: plaintive plaintiffs__**Elena D’Agostino**- RésuméAbstract: Plaintiffs/prosecutors present their evidence before defendants in common law trials. We analyze a model of trials with the following properties. If litigants share available evidence then they never prefer to present first, but may prefer to present second. However, litigants may otherwise prefer to present first because doing so replicates the follower's ex ante optimal commitment. If litigants share available evidence then a litigant cannot prefer the option to choose the order after observing its available evidence over always presenting second; and may prefer to always present second over having the option to choose the order.

**Lundi 27 mars 2017 17:00-18:30**- Salle R1-15, Nouveau Bâtiment, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**ECHENIQUE Frederico**(CalTech) :__On multiple discount rates__**Chris Chambers**- RésuméDisagreements over long-term projects can often be traced to assumptions about the discount rate. The debate in economics over climate change is a case in point. We propose a theory of intertemporal choice that is robust to specific assumptions on the discount rate. Our discussion is centered around three models: The PARETO model requires that one utility stream be chosen over another if and only if its discounted value is higher for all discount factors in a set of possible factors. The UTILITARIAN model focuses on an average discount factor. The MAXMIN model evaluates a ow by the lowest available discounted value. We propose these models as robust decision criteria for intertemporal choice, investigate their properties, and break them down axiomatically.

**Lundi 20 mars 2017 17:00-18:30**- Salle R1-15, Nouveau Bâtiment, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**CANTILLON Estelle**(Université Libre de Bruxelles) :__Respecting priorities versus respecting preferences in school choice: When is there a trade-off?__

**Lundi 6 mars 2017 17:00-18:30**- Salle E001, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**ELLIOTT Matt**(CalTech) :__Endogenous Financial Networks: Efficient Modularity and Why Shareholders Prevent It__- RésuméWe consider systemic risk in financial networks, by examining the conflict of interest between debt- and equity-holders. Through trading, banks can diversify their idiosyncratic risks and avoid failures following small shocks. However, the resulting interdependencies can cause multiple failures after large shocks. A social planner resolves this trade-off by creating a modular network structure with fire breaks, thereby preventing failures from small shocks while containing contagion. Socially efficient networks favor debt-holders over equity holders, meaning equity-holders can profitably trade away from these networks. Moreover, profitable trades for equity holders align their counter-parties’ failures with their own, creating systemic risk.

**Lundi 27 février 2017 17:00-18:30**- Salle E001, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**SEVERINOV Sergei**(University of British Columbia) :__Optimal and Efficient Mechanisms with Budget Constrained Buyers__- RésuméThe paper deals with the optimal and efficient mechanism design for selling to buyers who have commonly known budget constraints. With unequal budgets, our problem is that of asymmetric optimal mechanism design. We derive and characterize both the optimal and efficient mechanisms. The optimal mechanism belongs to one of two classes. When the budget differences are small, the mechanism discriminates only between high-valuation buyers for whom the budget constraint is binding. All low valuations buyers are treated symmetrically despite budget differences. When budget differences are sufficiently large, the optimal mechanism discriminates in favor of buyers with small budgets when the valuations are low, and in favor of buyers with larger budgets when the valuations are high.

**Lundi 20 février 2017 17:00-18:30**- Salle E001, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**YAMASHITA Takuro**(TSE) :__Optimal Public Information Disclosure by Mechanism Designer__- Texte intégral [pdf]

**Lundi 30 janvier 2017 17:00-18:30**- Salle E001, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**TRANNOY Alain**:__Land is back... and it should be taxed__**Odran BONNET, Guillaume CHAPELLE and Etienne WASMER**

**Lundi 23 janvier 2017 17:00-18:30**- Salle E101, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
**BOMMIER Antoine**(ETH Zürich) :__Household Finance and the Value of Life__- RésuméWe analyze life-cycle saving strategies with a recursive model that is designed to provide reasonable positive values for the value of a statistical life. With a positive value of life, risk aversion amplifies the impact of uncertain survival on the discount rate, and thus reduces savings. Our model also predicts that risk aversion lowers stock market participation and leads to choose more conservative portfolios.

**Lundi 16 janvier 2017 17:00-18:30****VIGIER Adrien**(Université d'Oxford) :__Dynamic Bayesian Persuasion with Public News__**Jacopo Bizzotto et Jesper Rudiger**- Texte intégral [pdf]

**Lundi 12 décembre 2016 17:00-18:30****GOLUB Ben**(Harvard) :__Expectations, Networks, and Conventions__**Stephen Morris**- Texte intégral [pdf]

**Lundi 5 décembre 2016 17:00-18:30****TANEVA Ina**(University of Edinburgh) :__Information Design__

**Lundi 28 novembre 2016 17:00-18:30****LARAKI Rida**(CNRS et Lamsade) :__Majority Judgment vs. Majority Rule__**Michel Balinski**- RésuméThe validity of majority rule in an election with but two candidates---and so also of Condorcet consistency---is challenged. Axioms based on evaluating candidates---paralleling those of K. O. May characterizing majority rule for two candidates based on comparing candidates---lead to another method, majority judgment, that is unique in agreeing with the majority rule on pairs of ``polarized'' candidates. It is a practical method that accommodates any number of candidates, avoids both the Condorcet and Arrow paradoxes, and best resists strategic manipulation. It may also be viewed as a ``solution'' to Dahl's (reformulated) intensity problem in that an intense minority sometimes defeats an apathetic majority.
- Texte intégral [pdf]

**Lundi 21 novembre 2016 17:00-18:30****PERSITZ Dotan**(Faculty of Management, Tel Aviv University) :__Parametric Recoverability of Preferences__**Yoram Halevy and Lanny Zrill**- RésuméRevealed preference theory is brought to bear on the problem of recovering approximate parametric preferences from consistent and inconsistent consumer choices. We propose measures of the incompatibility between the revealed preference ranking implied by choices and the ranking induced by the considered parametric preferences. These incompatibility measures are proven to characterize well-known inconsistency indices. We advocate a recovery approach that is based on such incompatibility measures, and demonstrate its applicability for misspeci cation measurement and model selection. Using an innovative experimental design we empirically substantiate that the proposed revealed-preference-based method predicts choices signi cantly better than a standard distance-based method.

**Lundi 14 novembre 2016 17:00-18:30****BOCHET Olivier**(NYU-Abu Dhabi) :__Coalitional Secure Implementation__**Norovsambuu Tumennasan**

**Lundi 7 novembre 2016 17:00-18:30****SCHUMMER James**(Northwestern) :__Influencing Waiting Lists__- Texte intégral [pdf]

**Lundi 17 octobre 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**RENAULT Jérôme**(TSE) :__Optimal Dynamic Information Provision__**Eilon Solan (Université Tel-Aviv) et Nicolas Vieille (HEC)**- Texte intégral [pdf]

**Lundi 10 octobre 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**VIEILLE Nicolas**(HEC) :__On the speed of learning: do actions really speak louder ?__

**Lundi 3 octobre 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**BONATTI Alessandro**(MIT) :__Dynamic Oligopoly with Incomplete Information__**Gonzalo Cisternas and Juuso Toikka**- Texte intégral [pdf]

**Lundi 26 septembre 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MORENO DE BARREDA Ines**(Oxford) :__Persuasion without commitment__

**Lundi 19 septembre 2016 17:00-18:30**- *

**Lundi 27 juin 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ELIAZ Kfir**(Tel Aviv University) :__Incentive compatible advertising on a social network__**Ran Spiegler**- Texte intégral [pdf]

**Lundi 20 juin 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
**SZENTES Balazs**(LSE) :__Buyer-optimal Demand and Monopoly Pricing__- Texte intégral [pdf]

**Lundi 13 juin 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**HÖRNER Johannes**(Yale University) :__Markovian Implementation__**X. Mu et N. Vieille**

**Lundi 6 juin 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LI Ming**(Concordia University) :__Group formation and diversity__**Sourav Bhattacharya (University of London)**

**Lundi 30 mai 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**NOELDEKE Georg**(Basel University) :__The Implementation Duality__**Larry Samuelson (Yale University)**- Texte intégral [pdf]

**Lundi 23 mai 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**KLEIN Nicolas**:__Relational Contracts with Private Information: The Upside of Implicit Downsizing Costs__**Matthias Fahn (München University)**- RésuméWe analyze a relational contracting problem, in which the principal has some private information about the future value of the relationship. In order to reduce bonus pay- ments, the principal is tempted to claim that the value of the future relationship was lower than it actually is. To induce truth-telling, the optimal relational contract may introduce distortions after a bad report. For some levels of the discount factor, output is reduced by more than would be sequentially optimal. This distortion is attenuated over time even if prospects remain bad.

**Lundi 9 mai 2016 17:00-18:30****La séance a été annulée.**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ORTOLEVA Pietro**(Columbia University) :__Deliberately Stochastic.__- Texte intégral [pdf]

**Lundi 2 mai 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**STEINER Jakub**(CERGE-EI and University of Edinburgh) :__Rational Inattention Dynamics: Inertia and Delay in Decision-Making__**Filip Matejka (CERGE-EI) and Colin Stewart (University of Toronto)**- RésuméWe solve a general class of dynamic rational-inattention problems in which an agent repeatedly acquires costly information about an evolving state and selects actions. The solution resembles the choice rule in a dynamic logit model, but it is biased towards an optimal default rule that depends only on the history of actions, not on the realized state. We apply the general solution to the study of (i) the status quo bias; (ii) inertia in actions leading to lagged adjustments to shocks; and (iii) the tradeoff between accuracy and delay in decision-making.
- Texte intégral [pdf]

**Lundi 11 avril 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**GOMES Renato**(Université de Toulouse) :__Differential Taxation and Occupational Choice__**Alessandro Pavan & Jean-Marie Lozachmeur).**- Texte intégral [pdf]

**Lundi 4 avril 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**SOURAV Bhattacharya**(University of Pittsburgh) :__A Possibility Theorem on Information Aggregation in Elections__**PAULO BARELLI & LUCAS SIGA**- Texte intégral [pdf]

**Lundi 21 mars 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**CHASSANG Sylvain**(Princeton University) :__Collusion in Auctions with Constrained Bids: Theory and Evidence from Public Procurement__- Texte intégral [pdf]

**Lundi 14 mars 2016 17:00-18:30**- Campus Jourdan, bâtiment A, rez-de-chaussée, salle 2
**ALONSO Ricardo**(London School of Economics) :__Recruitment and Selection in Organizations__- RésuméThis paper studies employer recruitment and selection of job applicants when productivity is match-specific. Job seekers have private, noisy estimates of match value, while the firm performs noisy interviews. Job seekers' willingness to incur the application costs varies with the perceived hiring probability, while the firm considers the applicant pool's composition when setting hiring standards. I show that changes in the accuracy of job seekers' estimates, or the firm's interview, affect application decisions, and both can raise hiring costs when they discourage applications. Thus, the firm may favor noisier interviews or prefer to face applicants that are less informed of their person-organization fit.
- Texte intégral [pdf]

**Lundi 7 mars 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
- Changes in Social Networks in Response to Exposure to Formal Markets

**Lundi 7 mars 2016 17:00-18:30**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**JACKSON Matt**(Stanford University) :__Changes in Social Networks in Response to Exposure to Formal Markets__

**Lundi 29 février 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
- *

**Lundi 22 février 2016 17:00-18:30****La séance a été annulée.**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
- *

**Lundi 15 février 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
**GILBOA Itzhak**(HEC) :__Weighted Utilitarianism, Edgeworth, and the Market__**Rossella Argenzianoy**- Texte intégral [pdf]

**Lundi 8 février 2016 17:00-18:30****RENAULT Regis**(Université de Cergy) :__Search direction__**Simon Anderson**

**Lundi 1er février 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
**MARIOTTI Marco**(Queen Mary, London) :__Revealed Complementarity__- RésuméThe Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where prices, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying the following criteria: they are behavioural (based only on observable choice data); model-free (valid whether the agent is rational or not); and they do not rely on price variation. We uncover a conflict between properties that any complementarity notion should intuitively possess. We discuss three di¤erent possible resolutions of the conflict.
- Texte intégral [pdf]

**Lundi 25 janvier 2016 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
**CHAMBERS Christopher**(UCSD) :__Benchmarking SALLE 10__**Alan D. Milleryz**- Texte intégral [pdf]

**Lundi 18 janvier 2016 17:00-18:30**- Campus Jourdan, bâtiment A, rez-de-chaussée, salle 2
**DILME Francesc**:__Residual Deterrence__**Daniel F. Garrett (Toulouse School of Economics)**- Texte intégral [pdf]

**Lundi 7 décembre 2015 17:00-18:30**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 10
**HART Oliver**:__SHORT-TERM, LONG-TERM, AND CONTINUING CONTRACTS__**MAIJA HALONEN-AKATWIJUKA**- Texte intégral [pdf]

**Lundi 30 novembre 2015 17:00-18:30**- MSE - Salle du 6ème étage
**YEON-KOO Che**:__Stable Matching in Large Economies__**with Jinwoo Kim and Fuhito Kojima**- Texte intégral [pdf]

**Lundi 23 novembre 2015 17:00-18:15**- Maison des Sciences Economiques, Salle S/1
**TAKASHI Ui**(Hitotsubashi University) :__Optimal Disclosure of Public Information with Endogenous Acquisition of Private Information__- Texte intégral [pdf]

**Lundi 16 novembre 2015 17:00-18:15**- MSE(106, Blv de l'Hôpital, salle du 6ème étage) 75013 Paris
**EVANS Robert**(Cambridge U. visiting PSE) :__Third-Party Sale of Information__**In-Uck Park**

**Lundi 9 novembre 2015 17:00-18:15**- MSE(106, Blv de l'Hôpital, salle du 6ème étage) 75013 Paris
**CASELLA Alessandra**(Columbia University) :__Trading Votes for Votes: A Decentralized Matching Algorithm__

**Lundi 2 novembre 2015 17:00-18:15**- MSE(106, Blv de l'Hôpital, salle du 6ème étage) 75013 Paris
**HENRY Emeric**(Sciences Po) :__Waiting for my Neighbors__- Texte intégral [pdf]

**Lundi 12 octobre 2015 17:00-18:15****RAI Birendra**((Monash University, visiting PSE) ) :__Event Subscription and Non-cooperative Network Formation__

**Lundi 5 octobre 2015 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital, salle du 6ème étage) 75013 Paris
**DEQUIEDT Vianney**(Université d'Auvergne) :__Local and Consistent Centrality Measures in Network__

**Lundi 28 septembre 2015 17:00-18:15**- MSE((106-112, boulevard de l'Hôpital - Salle 6ème étage)75013 PARIS
**YAMAMOTO Yuichi**(University of Pennsylvania) :__Stochastic Games with Hidden States"__

**Lundi 21 septembre 2015 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle 6ème étage)75013 PARIS
**ELLIS Randall**(Department of Economics Boston University) :__Complexity,Correlation, and Choice__**Co-author: Michele Piccione**

**Lundi 22 juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**RAZIN Ronny**(LSE) :__Bayesian Peer Influence__

**Lundi 15 juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**KARTIK Navin**:__A Theorem on Bayesian Updating and Applications to Signaling Games__**Co-authors : Frances Xu Lee & Wing Suen**

**Lundi 8 juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**SALANIE Bernard**(Columbia) :__What do Matching Models Predict?__- Texte intégral [pdf]

**Lundi 8 juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**SALANIE Bernard**(Columbia) :__What do Matching Models Predict?__- Texte intégral [pdf]

**Lundi 1er juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**POSTLEWITE Andrew**(University of Pennsylvania) :__Informational size and two-stage mechanisms__**Co-author : Richard P. McLean (Rutgers University)**- Texte intégral [pdf]

**Lundi 1er juin 2015 17:00-18:15**- Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8
**POSTLEWITE Andrew**(University of Pennsylvania) :__Informational size and two-stage mechanisms__**Co-author : Richard P. McLean (Rutgers University)**- Texte intégral [pdf]

**Lundi 18 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**AL NAJJAR Nabil**(Northwestern) :__"This Time is Different.."__- RésuméSystematic deviations from ostensibly rational beliefs appear in many economic, financial, and business contexts. This paper introduces a steady-state competitive equilibrium model (Hopenhayn (1992), Melitz (2003)) where firms maximize expected profit and hold beliefs that are calibrated with market aggregates. Firms agree that the aggregates accurately describe the distribution of productivities of others, but believe their own productivity is drawn from a better distribution. Each firm believes its own project is special, that `this time is different.' In the steady-state, all firms and outside observers agree that market participants are, on average, over-optimistic and that there is over-entry. The equilibrium response to this collective `bias' is a combination of lower prices, higher failure rates, and tighter credit. Corporate financing arrangements are determined in equilibrium, and display a combination of credit-rationing and funding at rates that firms view as too high.

**Lundi 18 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**AL NAJJAR Nabil**(Northwestern) :__"This Time is Different.."__- RésuméSystematic deviations from ostensibly rational beliefs appear in many economic, financial, and business contexts. This paper introduces a steady-state competitive equilibrium model (Hopenhayn (1992), Melitz (2003)) where firms maximize expected profit and hold beliefs that are calibrated with market aggregates. Firms agree that the aggregates accurately describe the distribution of productivities of others, but believe their own productivity is drawn from a better distribution. Each firm believes its own project is special, that `this time is different.' In the steady-state, all firms and outside observers agree that market participants are, on average, over-optimistic and that there is over-entry. The equilibrium response to this collective `bias' is a combination of lower prices, higher failure rates, and tighter credit. Corporate financing arrangements are determined in equilibrium, and display a combination of credit-rationing and funding at rates that firms view as too high.

**Lundi 11 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ALAOUI Larbi**(University Pompeu Fabra) :__Endogenous Depth of Reasoning" écrit avec Antonio Penta__- RésuméWe introduce a model of strategic thinking in games of initial response. Unlike standard models of strategic thinking, in this framework the player's `depth of reasoning' is endogenously determined, and it can be disentangled from his beliefs over his opponent's cognitive bound. In our approach, individuals act as if they follow a cost-benefit analysis. The depth of reasoning is a function of the player's cognitive abilities and his payoffs. The costs are exogenous and represent the game theoretical sophistication of the player; the benefit instead is related to the game payoffs. Behavior is in turn determined by the individual's depth of reasoning and his beliefs about the reasoning process of the opponent. Thus, in our framework, payoffs not only affect individual choices in the traditional sense, but they also shape the cognitive process itself. Our model delivers testable implications on players' chosen actions as incentives and opponents change. We then test the model's predictions with an experiment. We administer different treatments that vary beliefs over payoffs and opponents, as well as beliefs over opponents' beliefs. The results of this experiment, which are not accounted for by current models of reasoning in games, strongly support our theory. We also show that the predictions of our model are highly consistent, both qualitatively and quantitatively, with well-known unresolved empirical puzzles. Our approach therefore serves as a novel, unifying framework of strategic thinking that allows for predictions across games.

**Lundi 11 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ALAOUI Larbi**(University Pompeu Fabra) :__Endogenous Depth of Reasoning" écrit avec Antonio Penta__- RésuméWe introduce a model of strategic thinking in games of initial response. Unlike standard models of strategic thinking, in this framework the player's `depth of reasoning' is endogenously determined, and it can be disentangled from his beliefs over his opponent's cognitive bound. In our approach, individuals act as if they follow a cost-benefit analysis. The depth of reasoning is a function of the player's cognitive abilities and his payoffs. The costs are exogenous and represent the game theoretical sophistication of the player; the benefit instead is related to the game payoffs. Behavior is in turn determined by the individual's depth of reasoning and his beliefs about the reasoning process of the opponent. Thus, in our framework, payoffs not only affect individual choices in the traditional sense, but they also shape the cognitive process itself. Our model delivers testable implications on players' chosen actions as incentives and opponents change. We then test the model's predictions with an experiment. We administer different treatments that vary beliefs over payoffs and opponents, as well as beliefs over opponents' beliefs. The results of this experiment, which are not accounted for by current models of reasoning in games, strongly support our theory. We also show that the predictions of our model are highly consistent, both qualitatively and quantitatively, with well-known unresolved empirical puzzles. Our approach therefore serves as a novel, unifying framework of strategic thinking that allows for predictions across games.

**Lundi 4 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**BOBTCHEFF Catherine**(Toulouse School of Economics) :__More Haste, Less Speed? Signaling through Investment Timing__**Co-author : Raphaël Levy**- RésuméWe consider a real option model in which a cash-constrained entrepreneur learns prior to investing, but at a speed which is private information. The entrepreneur seeks outside funding, and uses the timing of his investment to signal his condence in the venture, and accordingly obtain cheaper credit. In the benchmark case with no informational friction, we show that the optimal investment date may be nonmonotonic or decreasing in learning speed, depending on the prior NPV of the project: better learning increases the value of the option, but also increases the speed of updating. In the presence of asymmetric information, the cash constraint may result in distortions in the investment timing policy, and the ine ciency is higher the more stringent the constraint. In addition, the welfare loss is sometimes higher for projects of higher quality. Ine cient investment policy may take both the form of over-investment (hurried investment as compared to the benchmark), when both entrepreneur types learn su ciently fast, and of under-investment (delayed investment), when the slow-learning type does not learn fast enough. Therefore, the severity of the cash constraint a ects the magnitude of the timing distortion, but not its direction.

**Lundi 4 mai 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**BOBTCHEFF Catherine**(Toulouse School of Economics) :__More Haste, Less Speed? Signaling through Investment Timing__**Co-author : Raphaël Levy**- RésuméWe consider a real option model in which a cash-constrained entrepreneur learns prior to investing, but at a speed which is private information. The entrepreneur seeks outside funding, and uses the timing of his investment to signal his condence in the venture, and accordingly obtain cheaper credit. In the benchmark case with no informational friction, we show that the optimal investment date may be nonmonotonic or decreasing in learning speed, depending on the prior NPV of the project: better learning increases the value of the option, but also increases the speed of updating. In the presence of asymmetric information, the cash constraint may result in distortions in the investment timing policy, and the ine ciency is higher the more stringent the constraint. In addition, the welfare loss is sometimes higher for projects of higher quality. Ine cient investment policy may take both the form of over-investment (hurried investment as compared to the benchmark), when both entrepreneur types learn su ciently fast, and of under-investment (delayed investment), when the slow-learning type does not learn fast enough. Therefore, the severity of the cash constraint a ects the magnitude of the timing distortion, but not its direction.

**Lundi 13 avril 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LEVIN Jonathan**(Stanford) :__Are Dynamic Vickrey Auctions Practical?:Properties of the Combinatorial Clock Auction__**Co-author : Andrzej Skrzypaczy**- Texte intégral [pdf]

**Lundi 13 avril 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LEVIN Jonathan**(Stanford) :__Are Dynamic Vickrey Auctions Practical?:Properties of the Combinatorial Clock Auction__**Co-author : Andrzej Skrzypaczy**- Texte intégral [pdf]

**Lundi 30 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MANIQUET François**(Université de Louvain) :__Fairness and well-being measurement__**Co-authors : Marc Fleurbaey & Francois Maniquet**- Texte intégral [pdf]

**Lundi 30 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MANIQUET François**(Université de Louvain) :__Fairness and well-being measurement__**Co-authors : Marc Fleurbaey & Francois Maniquet**- Texte intégral [pdf]

**Lundi 23 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**DEKEL Eddie**(Economics Department, Northwestern University, and School of Economic) :__Disclosure and Choice__**Co-author(s) : Elchanan Ben-Porath and Barton L. Lipman**- RésuméAn agent chooses among projects with random outcomes. His payoff is increasing in the outcome and in an observer's expectation of the outcome. With some probability, the agent can disclose the true outcome to the observer. We show that choice is inefficient : the agent favors riskier projects even with lower expected returns. If information can be disclosed by a challenger who prefers lower beliefs of the observer, the chosen project is excessively risky when the agent has better access to information, excessively risk-averse when the challenger has better access, and efficient otherwise. We also characterize the agent's worst-case equilibrium payoff.
- Texte intégral [pdf]

**Lundi 23 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**DEKEL Eddie**(Economics Department, Northwestern University, and School of Economic) :__Disclosure and Choice__**Co-author(s) : Elchanan Ben-Porath and Barton L. Lipman**- RésuméAn agent chooses among projects with random outcomes. His payoff is increasing in the outcome and in an observer's expectation of the outcome. With some probability, the agent can disclose the true outcome to the observer. We show that choice is inefficient : the agent favors riskier projects even with lower expected returns. If information can be disclosed by a challenger who prefers lower beliefs of the observer, the chosen project is excessively risky when the agent has better access to information, excessively risk-averse when the challenger has better access, and efficient otherwise. We also characterize the agent's worst-case equilibrium payoff.
- Texte intégral [pdf]

**Lundi 16 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MOULIN Hervé**(University of Galsgow (Visite Polytechnique)) :__One dimensional mechanism design__- RésuméWhen agents'allocations are one-dimensional and preferences are convex, the three perenial goals of mechanism design, efficiency, prior-free incentive compatibility and fairness (horizontal equity) are compatible. This has been known for decades in the cases of voting and of division of a non disposable commodity. We show that it is in fact true when the range of allocation profiles is an arbitrary convex and compact set. Examples include: load balancing with arbitrary flow graph constraints;!coordinating joint work inside a team or across teams, when individual contributions are substitutable or complementary; and any joint venture with a convex technology where each agent provides a single input or consumes a single output. The set of efficient, incentive compatible and fair mechanisms is very rich, and additional requirement such as consistency are needed to identify reasonable candidates.

**Lundi 16 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MOULIN Hervé**(University of Galsgow (Visite Polytechnique)) :__One dimensional mechanism design__- RésuméWhen agents'allocations are one-dimensional and preferences are convex, the three perenial goals of mechanism design, efficiency, prior-free incentive compatibility and fairness (horizontal equity) are compatible. This has been known for decades in the cases of voting and of division of a non disposable commodity. We show that it is in fact true when the range of allocation profiles is an arbitrary convex and compact set. Examples include: load balancing with arbitrary flow graph constraints;!coordinating joint work inside a team or across teams, when individual contributions are substitutable or complementary; and any joint venture with a convex technology where each agent provides a single input or consumes a single output. The set of efficient, incentive compatible and fair mechanisms is very rich, and additional requirement such as consistency are needed to identify reasonable candidates.

**Lundi 9 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**GANGULI Jayant**(ESSEX) :__Pricing effects of ambiguous private information.__- Texte intégral [pdf]

**Lundi 9 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**GANGULI Jayant**(ESSEX) :__Pricing effects of ambiguous private information.__- Texte intégral [pdf]

**Lundi 2 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LESHNO Jacob**(Columbia) :__Unbalanced Random Matching Markets: The Stark Effect of Competition__**Co-authors :Itai Ashlagi & Yash Kanoria**- Texte intégral [pdf]

**Lundi 2 mars 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LESHNO Jacob**(Columbia) :__Unbalanced Random Matching Markets: The Stark Effect of Competition__**Co-authors :Itai Ashlagi & Yash Kanoria**- Texte intégral [pdf]

**Lundi 9 février 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ATTAR Andrea**(University of Roma Tor Vergata,Toulouse School of Economics (IDEI) :__Multiple Contracting in Insurance Markets: Cross-Subsidies and Quantity Discounts__**Co-authors : Thomas Mariotti & François Salanié**- Texte intégral [pdf]

**Lundi 9 février 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ATTAR Andrea**(University of Roma Tor Vergata,Toulouse School of Economics (IDEI) :__Multiple Contracting in Insurance Markets: Cross-Subsidies and Quantity Discounts__**Co-authors : Thomas Mariotti & François Salanié**- Texte intégral [pdf]

**Lundi 2 février 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**SPIEGLER Ran**(University College London - Tel Aviv University) :__Bayesian Networks and Boundedly Rational Expectations__- RésuméI present a framework for analyzing decision making under imperfect understanding of the environment’s correlation structure. The decision maker faces an objective long-run probability distribution p over a number of variables (including his own action). He is characterized by a directed acyclic graph R over the set of variable labels. His subjective belief factorizes according to R, via the standard Bayesian-network formula. This belief distortion implies that the decision maker’s long-run behavior may a effect his perception of the consequences of his actions. I characterize the cases when it does, and define accordingly a "personal equilibrium" notion of subjectively optimal choice. The framework provides a simple graphical representation of various belief biases (coarse reasoning, reverse causality, attribution errors), subsuming recent models of boundedly-rational equilibrium expectations as special cases. The framework’s potential for economic applications is demonstrated with a few stylized examples

**Lundi 2 février 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**SPIEGLER Ran**:__Bayesian Networks and Boundedly Rational Expectations__- RésuméI present a framework for analyzing decision making under imperfect understanding of the environment’s correlation structure. The decision maker faces an objective long-run probability distribution p over a number of variables (including his own action). He is characterized by a directed acyclic graph R over the set of variable labels. His subjective belief factorizes according to R, via the standard Bayesian-network formula. This belief distortion implies that the decision maker’s long-run behavior may a effect his perception of the consequences of his actions. I characterize the cases when it does, and define accordingly a "personal equilibrium" notion of subjectively optimal choice. The framework provides a simple graphical representation of various belief biases (coarse reasoning, reverse causality, attribution errors), subsuming recent models of boundedly-rational equilibrium expectations as special cases. The framework’s potential for economic applications is demonstrated with a few stylized examples

**Lundi 26 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LAMBA Rohit**(Cambridge) :__Repeated Bargaining: A Mechanism Design Approach__- RésuméThrough a model of repeated bargaining between a buyer and a seller, with changing private information on both sides, this paper addresses questions of eciency and institutional structures in dynamic mechanism design. A new technical device in the form of a history dependent version of payo equivalence is established. A new notion of interim budget balance is introduced which allows for the role of an intermediary but with bounded credit lines. We then construct a mechanism, which provides a necessary and sucient condition for eciency under interim budget balance. The existence of a future surplus can be used as collateral to sustain eciency, and its size determines the possibility. The mechanism also oers a simple and realistic implementation. A characterization of ecient implementation under ex post budget balance is also provided. Further, a characterization for the second best is presented, and its equivalent Ramsey pricing formulation is established. A suboptimal, but incentive compatible mechanism for the second best with intuitive properties is presented. When property rights are uid, that is, the good can be shared, a folk theorem with a simple mechanism is constructed.
- Texte intégral [pdf]

**Lundi 26 janvier 2015 17:00-18:15****LAMBA Rohit**:__Repeated Bargaining: A Mechanism Design Approach SALLE 10__- RésuméThrough a model of repeated bargaining between a buyer and a seller, with changing private information on both sides, this paper addresses questions of eciency and institutional structures in dynamic mechanism design. A new technical device in the form of a history dependent version of payo equivalence is established. A new notion of interim budget balance is introduced which allows for the role of an intermediary but with bounded credit lines. We then construct a mechanism, which provides a necessary and sucient condition for eciency under interim budget balance. The existence of a future surplus can be used as collateral to sustain eciency, and its size determines the possibility. The mechanism also oers a simple and realistic implementation. A characterization of ecient implementation under ex post budget balance is also provided. Further, a characterization for the second best is presented, and its equivalent Ramsey pricing formulation is established. A suboptimal, but incentive compatible mechanism for the second best with intuitive properties is presented. When property rights are uid, that is, the good can be shared, a folk theorem with a simple mechanism is constructed.
- Texte intégral [pdf]

**Lundi 19 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**HENRANDEZ-LAGOS Pablo**(NYU) :__Political Identity and Trust__- RésuméWe explore how political identity affects trust. Using an incentivized experimental survey we vary information about partners' partisan identity to elicit trust behavior and beliefs. By eliciting beliefs, we are able to assess whether differences in trust rates are due to stereotyping or a "taste for discrimination." By measuring actual trustworthiness, we are able to determine whether beliefs are statistically correct. We find that trust is pervasive and depends on the partisan identity of the trustee. Differential trust rates are explained by incorrect stereotypes about the other's lack of trustworthiness rather than by a "taste for discrimination.
- Texte intégral [pdf]

**Lundi 19 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**HENRANDEZ-LAGOS Pablo**(NYU) :__Political Identity and Trust__- RésuméWe explore how political identity affects trust. Using an incentivized experimental survey we vary information about partners' partisan identity to elicit trust behavior and beliefs. By eliciting beliefs, we are able to assess whether differences in trust rates are due to stereotyping or a "taste for discrimination." By measuring actual trustworthiness, we are able to determine whether beliefs are statistically correct. We find that trust is pervasive and depends on the partisan identity of the trustee. Differential trust rates are explained by incorrect stereotypes about the other's lack of trustworthiness rather than by a "taste for discrimination.
- Texte intégral [pdf]

**Lundi 12 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**KOS Nenad**(Bocconi - Milan) :__Information in Tender Offers with a Large Shareholder.__- Texte intégral [pdf]

**Lundi 12 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**KOS Nenad**(Bocconi - Milan) :__Information in Tender Offers with a Large Shareholder.__- Texte intégral [pdf]

**Lundi 5 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ESÖ Peter**(Oxford University) :__Persuasion and Pricing__**Co-author : Chris Wallace (University of Leicester)**

**Lundi 5 janvier 2015 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**ESÖ Peter**(Oxford University) :__Persuasion and Pricing__**Co-author : Chris Wallace (University of Leicester)**

**Lundi 15 décembre 2014 17:00-18:15**- Maison des Sciences Économiques (106-112, boulevard de l'Hôpital - Salle 115) 75013 Paris
**STRZALECKI Tomasz**(Harvard) :__Stochastic choice and revealed perturbed utility__- Texte intégral [pdf]

**Lundi 15 décembre 2014 17:00-18:15**- Maison des Sciences Économiques (106-112, boulevard de l'Hôpital - Salle 115) 75013 Paris
**STRZALECKI Tomasz**(Harvard) :__Stochastic choice and revealed perturbed utility__- Texte intégral [pdf]

**Lundi 8 décembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**STANCHEVA Stephanie**(Harvard University) :__Optimal taxation and human capital policies over the life cycle__- Texte intégral [pdf]

**Lundi 8 décembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**STANCHEVA Stephanie**(Harvard University) :__Optimal taxation and human capital policies over the life cycle__- Texte intégral [pdf]

**Lundi 1er décembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**GALEOTTI Andrea**(Essex) :__Information on consumption’s externalities, monopoly pricing and consumers’ surplus__- RésuméThe increase in the information that firms can obtain about the interactions and influences of their consumers motivates two important questions: How does the pricing strategy of a firm reacts to detailed information on consumers' externalities? Is the availability and use of such information beneficial or detrimental for consumer welfare? We study these questions in a model where a monopoly sells a network good and may price discriminate using information on consumers' influences and/or on consumers' susceptibilities to influence. Our framework incorporates a rich set of market products, including goods characterized by global and local network effects. The optimal pricing takes a simple form, which entails a price discount for the influence of consumers and a price premium for their susceptibility; both of these components are a function of the pattern of externalities across consumers. We can determine under which conditions, relative to uniform price, consumer surplus increases. We provide a full characterization of the value of network information for the monopolist.

**Lundi 1er décembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**GALEOTTI Andrea**(Essex) :__Information on consumption’s externalities, monopoly pricing and consumers’ surplus__- RésuméThe increase in the information that firms can obtain about the interactions and influences of their consumers motivates two important questions: How does the pricing strategy of a firm reacts to detailed information on consumers' externalities? Is the availability and use of such information beneficial or detrimental for consumer welfare? We study these questions in a model where a monopoly sells a network good and may price discriminate using information on consumers' influences and/or on consumers' susceptibilities to influence. Our framework incorporates a rich set of market products, including goods characterized by global and local network effects. The optimal pricing takes a simple form, which entails a price discount for the influence of consumers and a price premium for their susceptibility; both of these components are a function of the pattern of externalities across consumers. We can determine under which conditions, relative to uniform price, consumer surplus increases. We provide a full characterization of the value of network information for the monopolist.

**Lundi 24 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**LOVO Stefano**(HEC) :__Robust Price Formation__**Co-authors : J. Hörner et T. Tomala**

**Lundi 24 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75013 PARIS
**LOVO Stefano**(HEC) :__Robust Price Formation__**Co-authors : J. Hörner et T. Tomala**

**Lundi 17 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - salle du 6ème étage) 75013 Paris
**BRAMOULLE Yann**(Aix-Marseille) :__Altruism in Networks__**Co-author : Renaud Bourlès**- Texte intégral [pdf]

**Lundi 17 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - salle du 6ème étage) 75013 Paris
**BRAMOULLE Yann**(Aix-Marseille) :__Altruism in Networks__**Co-author : Renaud Bourlès**- Texte intégral [pdf]

**Lundi 3 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle S/2) 75013 Paris
**TOMALA Tristan**(Visite PSE) :__Atomic Dynamic Congestion Games__**Co-authors: Marco Scarsini (LUISS), Marc Schroeder (U. Maastricht) & Tristan Tomala (HEC Paris)**- RésuméIn this paper, we propose a model of discrete time dynamic congestion games with atomic players. This approach allows to give a precise description of the dynamics induced by the individual strategies of players and to study how the steady state is reached, either when players act selfishly, or when the traffic is controlled by a planner. We model also seasonalities by assuming that departure flows fluctuate periodically with time. We focus mostly on simple networks and give closed form formulas for the long-run equilibrium and optimal latencies, as functions of the seasonality. We then derive computations and bounds on the price of anarchy. We also characterize optimal and equilibrium flows and show that, although they produce different costs, they coincide from some time onwards.
- Texte intégral [pdf]

**Lundi 3 novembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle S/2) 75013 Paris
**TOMALA Tristan**(Visite PSE) :__Atomic Dynamic Congestion Games__**Co-authors: Marco Scarsini (LUISS), Marc Schroeder (U. Maastricht) & Tristan Tomala (HEC Paris)**- RésuméIn this paper, we propose a model of discrete time dynamic congestion games with atomic players. This approach allows to give a precise description of the dynamics induced by the individual strategies of players and to study how the steady state is reached, either when players act selfishly, or when the traffic is controlled by a planner. We model also seasonalities by assuming that departure flows fluctuate periodically with time. We focus mostly on simple networks and give closed form formulas for the long-run equilibrium and optimal latencies, as functions of the seasonality. We then derive computations and bounds on the price of anarchy. We also characterize optimal and equilibrium flows and show that, although they produce different costs, they coincide from some time onwards.
- Texte intégral [pdf]

**Lundi 13 octobre 2014 17:00-18:15**- MSE(106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75647 Paris Cedex 13
**SZALAY Dezso**(BONN) :__Smooth, strategic communication__- RésuméWe study strategic information transmission in a Sender-Receiver game where players' optimal actions depend on the realization of multiple signals but the players disagree on the relative importance of each piece of news. We characterize a statistical environment - featuring symmetric loss functions and elliptically distributed parameters - in which the Sender's expected utility depends only on the first moment of his posterior. Despite disagreement about the use of underlying signals, we demonstrate the existence of equilibria in differentiable strategies in which the Sender can credibly communicate posterior means. The existence of smooth communication equilibria depends on the relative usefulness of the signal structure to Sender and Receiver, respectively. We characterize extensive forms in which the quality of information is optimally designed of equal importance to Sender and Receiver so that the best equilibrium in terms of ex ante expected payoffs is a smooth communication equilibrium. The quality of smooth equilibrium communication is entirely determined by the correlation of interests. Senders with better aligned preferences are endogenously endowed with better information and therefore give more accurate advice.
- Texte intégral [pdf]

**Lundi 13 octobre 2014 17:00-18:15**- MSE(106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75647 Paris Cedex 13
**SZALAY Dezso**(BONN) :__Smooth, strategic communication__- RésuméWe study strategic information transmission in a Sender-Receiver game where players' optimal actions depend on the realization of multiple signals but the players disagree on the relative importance of each piece of news. We characterize a statistical environment - featuring symmetric loss functions and elliptically distributed parameters - in which the Sender's expected utility depends only on the first moment of his posterior. Despite disagreement about the use of underlying signals, we demonstrate the existence of equilibria in differentiable strategies in which the Sender can credibly communicate posterior means. The existence of smooth communication equilibria depends on the relative usefulness of the signal structure to Sender and Receiver, respectively. We characterize extensive forms in which the quality of information is optimally designed of equal importance to Sender and Receiver so that the best equilibrium in terms of ex ante expected payoffs is a smooth communication equilibrium. The quality of smooth equilibrium communication is entirely determined by the correlation of interests. Senders with better aligned preferences are endogenously endowed with better information and therefore give more accurate advice.
- Texte intégral [pdf]

**Lundi 6 octobre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75647 PARIS cedex 13
**HOPKINS Ed**(Edinburgh School of Economics) :__Inequality, Gender and Risk-Taking Behaviour__- RésuméThis paper investigates social influences on attitudes to risk and offers a theoretical explanation of how risk-taking varies with gender, relative position and inequality. Individuals about to participate in a tournament may take fair gambles even though they are risk averse in both consumption and tournament rewards. While this risk-taking is increasing in the equality of initial endowments, it is found here that it is increasing in the inequality of rewards in the tournament. Indeed, the poorest will be risk loving if the value of the worst reward is sufficiently low. Further, the level of equality of wealth that is compatible with stability, that is gives no incentive to gamble, is increasing in the equality of rewards. Thus, inequality in rewards can cause inequality in wealth. Finally, in a marriage-matching version of the tournament, it is found that the more numerous gender will be more risk taking.

**Lundi 6 octobre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage) 75647 PARIS cedex 13
**HOPKINS Ed**(Edinburgh School of Economics) :__Inequality, Gender and Risk-Taking Behaviour__- RésuméThis paper investigates social influences on attitudes to risk and offers a theoretical explanation of how risk-taking varies with gender, relative position and inequality. Individuals about to participate in a tournament may take fair gambles even though they are risk averse in both consumption and tournament rewards. While this risk-taking is increasing in the equality of initial endowments, it is found here that it is increasing in the inequality of rewards in the tournament. Indeed, the poorest will be risk loving if the value of the worst reward is sufficiently low. Further, the level of equality of wealth that is compatible with stability, that is gives no incentive to gamble, is increasing in the equality of rewards. Thus, inequality in rewards can cause inequality in wealth. Finally, in a marriage-matching version of the tournament, it is found that the more numerous gender will be more risk taking.

**Lundi 29 septembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage ) 75013 Paris
**MOREIRA Humberto**(FGV/EPGE-Fundation Getulio Vargas- Escola Brasileira de Economia ) :__Simultaneous Adverse Selection and Moral Hazard__**Co-author : Daniel Gottlieb**- RésuméWe study a principal-agent model with moral hazard and adverse selection. Agents have private information about the distribution of outputs conditional on each effort and, possibly, the cost of effort. We prove existence, characterize the solution, and establish several general properties of the resulting multidimensional screening problem. A positive mass of types with low conditional probabilities of success gets a constant payment and zero rents. Exclusion is desirable if and only if it is first-best efficient. Unlike in pure adverse selection models, there is distortion everywhere: the region of types who exert high effort is contained in the interior of the first-best high-effort region. Under additional conditions, the optimal mechanism offers only finitely many contracts. For example, if the agent is risk neutral and has limited liability, all agents are offered a single contract. Our model, therefore, provides a multidimensional screening rationale for the lack of rich menus of contracts observed in certain environments. We apply our framework to multidimensional generalizations of canonical models in insurance, regulation, and optimal taxation and show that it generates novel results.
- Texte intégral [pdf]

**Lundi 29 septembre 2014 17:00-18:15**- MSE (106-112, boulevard de l'Hôpital - Salle du 6ème étage ) 75013 Paris
**MOREIRA Humberto**:__Simultaneous Adverse Selection and Moral Hazard__**Co-author : Daniel Gottlieb**- RésuméWe study a principal-agent model with moral hazard and adverse selection. Agents have private information about the distribution of outputs conditional on each effort and, possibly, the cost of effort. We prove existence, characterize the solution, and establish several general properties of the resulting multidimensional screening problem. A positive mass of types with low conditional probabilities of success gets a constant payment and zero rents. Exclusion is desirable if and only if it is first-best efficient. Unlike in pure adverse selection models, there is distortion everywhere: the region of types who exert high effort is contained in the interior of the first-best high-effort region. Under additional conditions, the optimal mechanism offers only finitely many contracts. For example, if the agent is risk neutral and has limited liability, all agents are offered a single contract. Our model, therefore, provides a multidimensional screening rationale for the lack of rich menus of contracts observed in certain environments. We apply our framework to multidimensional generalizations of canonical models in insurance, regulation, and optimal taxation and show that it generates novel results.
- Texte intégral [pdf]

**Lundi 22 septembre 2014 17:00-18:15**- MSE(106-112, boulevard de l'Hôpital - Salle 6ème étage)75647 PARIS cedex 13
**SERGEI SEVERINOV**(UBS, Visiting PSE) :__Strategic Information Acquisition and Transmission__- Texte intégral [pdf]

**Lundi 22 septembre 2014 17:00-18:15**- MSE(106-112, boulevard de l'Hôpital - Salle 6ème étage)75647 PARIS cedex 13
**SERGEI SEVERINOV**:__Strategic Information Acquisition and Transmission__- Texte intégral [pdf]

**Lundi 16 juin 2014 17:00-18:15**- MSE (106-112 BOULEVARD DE L'HOPITAL- PARIS 75013) SALLE 114
**FUCHS William**(UC Berkeley) :__Government Interventions in a Dynamic Market with Adverse Selection__**Co-author : A. Skrzypacz**- Texte intégral [pdf]

**Lundi 2 juin 2014 17:00-18:15**- Maison des Sciences Économiques salle du 6ème
**MATHEVET Laurent**(NYU) :__Axiomatic Behavior in Repeated Interactions__- RésuméSuppose that, in repeated interactions, players eventually engage in a pattern of action profiles, which we call a social convention. Do some social conventions seem more plausible than others? We answer axiomatically based on principles of rationality and efficient simplicity. After studying the complexity required by efficient simplicity, we characterize the axioms’ solutions. The main solution says that social conventions should be constant repetitions of a static Nash equilibrium, or such that players switch between two Pareto unranked profiles (across which they each change action). The paper also reports experimental evidence that supports our findings. This approach generalizes the standard frameworks of axiomatic bargaining (Nash(1950)) and of Harsanyi and Selten(1988). Among other things, it provides a testbed for selection arguments in repeated interactions: in some games, it takes remarkably little to reduce the multiplicity of outcomes and even get uniqueness.

**Lundi 26 mai 2014 17:00-18:15****WAMBACH Achim**(UNIVERSITY OF COLOGNE) :__AUCTIONS VS. NEGOTIATIONS: THE CASE OF FAVORITISM__**Co-author(s): VITALI GRETSCHKO & ACHIM WAMBACH**- Texte intégral [pdf]

**Lundi 19 mai 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**BOARD Simon**(UCLA) :__A Reputational Theory of Firm Dynamics__**Co-author(s) : Moritz Meyer-ter-Vehn**- RésuméWe propose an industry lifecycle model in which each firm privately invests into its quality and thereby its reputation. Over time, both the firm and the market learn about the firm's evolving quality via infrequent breakthroughs. The firm can also exit if its value becomes negative, giving rise to selection within the industry. In a pure-strategy equilibrium, incentives are single-peaked: the firm shirks immediately following a breakthrough, works for intermediate levels of reputation and shirks again when it is about to exit. This investment behavior yields predictions for the distribution of firm productivity and the turnover rate. Finally, we compare the model to two variants : one in which the firm's investment is publicly observed, and a second where the firm has private information about its product quality.

**Lundi 12 mai 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**SGROI Daniel**(Warwick) :__Explaining Attitudes towards Taxation__**Co-author(s) : Anandi Mani & Sharun Mukand**- Résumé> Standard theory suggests that the rich would like to see lower tax rates, but also that individuals may have social preferences that are independent of their wealth which may in part govern attitudes towards taxation. More recently their have been two important contributions that may enable us to gain more insight into tax attitudes. First, theoretical work has discussed "self-serving biases" that enable individuals to distort their memories of events in ways that boost their utility. Second, empirical studies have found significant differences in tax attitudes which seem to correlate with attitudes towards the importance of luck in life. We merge these two ideas in a controlled laboratory experiment (involving in excess of 450 participants) that allows individuals to make money through effort and luck, and to select tax rates on the resulting earnings under different information treatments. We find strong evidence that (1) individuals care about the source of the wealth of those that are taxed; (2) the source of wealth of the tax-setter also matters a great deal and (3) individuals are willing to bias their attitudes in ways that benefit their own self-image. We thereby provide empirical support for the importance of the source of wealth (of the tax-payer and tax-setter) and the role of self-serving biases in establishing how individuals form their tax attitudes.

**Lundi 5 mai 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**STEWART Colin**(Toronto) :__Perceiving Prospects Properly__**Co-author(s) : Jakub Steiner**

**Lundi 28 avril 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**WEIBULL Jörgen**(Stockholm) :__TBA__

**Lundi 31 mars 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**VILLEVAL Marie-Claire**(Gate) :__Self Control and Intertemporal Choice: Evidence from Glucose and Depletion Interventions__**Co-authors : Michael A. Kuhn (UC San Diego) et Peter Kuhn (UC Santa Barbara)**- Texte intégral [pdf]

**Lundi 24 mars 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**SOBEL Joel**(UC San Diego) :__Persuasive Arguments__- RésuméSocial Psychologists have identified a tendency for groups composed of like-minded individuals to make decisions that are more extreme, but biased in the same direction as decisions taken by individual members of the group. This tendency is a called the group-polarization phenomenon. One explanation for the phenomenon is the ``persuasive argument theory.'' Loosely, the persuasive argument theory asserts that individuals become more convinced on their view when they hear new arguments that support their position and that group deliberations bring out these arguments. I provide one formalization of this theory and investigate the extent to which the persuasive argument theory leads to polarization and conditions under which group decisions are not necessarily better than decisions made by group members. I argue that group polarization is not necessarily a sign of non-optimizing behavior and does not require persuasive arguments, but that either when there is a conflict of interest between decision makers or limits on the ability to communicate, novel arguments will receive disproportional weight in deliberations and may lead to biased group decision making.

**Lundi 17 mars 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**GALICHON Alfred**(Sciences Po) :__Taxation and Sorting : The Second Tax Incidence Effect__- RésuméWe study the effect of taxes on wages and sorting in a competitive matching market. Taxes not only affect equilibrium wages, they also potentially affect the sorting patterns, namely the matched partners of individuals at equilibrium. In a one-to-one matching models where workers (CEOs) are assigned to firms and where proportional taxes are levied on wages, we study the impact of taxes on wages and sorting. We show that the model with taxes can be reformulated as an fictional equivalent model without taxes. We use this equivalence to derive compact comparative statics results. We provide a theory of tax incidence where a change in the tax rate induces workers' and firms' surpluses to be affected by (1) the direct change in the tax rate (which has been called the "flypaper effect") (2) the change in equilibrium wages (which is the classical tax incidence effect, or price incidence effect) and (3) the change in the sorting pattern (which we call the "second tax incidence effect", or sorting incidence effect). We provide an identification strategy for this model, and we give preliminary evidence that the second incidence effect is significant.

**Lundi 10 mars 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**HALAC Marina**(Columbia) :__Managerial Attention and Worker Engagement__**co-author(s) : Andrea Prat**- RésuméWe study a dynamic agency problem with two-sided moral hazard: the worker chooses whether to exert effort or shirk; the manager chooses whether to invest in paying attention to the worker's performance. In equilibrium the worker uses past recognition to infer managerial attention. An engagement trap arises: absent recent recognition, both worker effort and managerial investment decrease, making a return to high productivity less likely as time passes. In a sample of ex-ante identical firms, firm performance, managerial quality, and worker engagement display heterogeneity across firms, positive correlation, and persistence over time.

**Lundi 3 mars 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**UNVER Utku**(Boston College) :__Welfare and Equity Consequences of Transplant Organ Allocation Policies__**Co-author(s) : Tayfun Sönmez**- RésuméWithin the last decade kidney exchange became a mainstream paradigm to increase the number of kidneys transplants. However, compatible pairs do not participate in exchange and full benefit from exchange can only be realized if they participate. In this paper, we propose a new incentive scheme that relies on incentivizing participation of compatible pairs in exchange via an insurance for the patient for a second future renal failure. Welfare and equity analysis of this scheme is conducted and compared with welfare and equity outcomes of live donation and live donor organ exchange. The potential role of such an incentive scheme to strengthen the national kidney exchange system is also presented.
- Texte intégral [pdf]

**Lundi 17 février 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**BOHREN Aislinn**(U. Penn) :__Spot Market Incentives: Optimal Contract Design with Unverifiable Output__**Co-author(s) : J. Aislinn Bohren and Troy Kravitz**- RésuméThis paper studies an agency problem in which a firm employs workers to perform a task. The worker selects an effort level that determines the probability that she completes the task successfully. The firm cannot directly observe effort or verify whether the task is successful. To encourage effort, the firm hires several workers to perform the same task and bases compensation on the degree to which the workers' output agrees. The setting diers from traditional agency theory along two dimensions: no signal about whether eort was exerted is available, and the firm is unable to threaten workers with negative wage payments. In the optimal mechanism, the firm endogenously monitors workers with nontrivial probability and bundles multiple tasks together to reduce the per-task cost of monitoring. By assigning more tasks to each worker and conditioning wage payment for any task on satisfactory performance on all tasks, the firm approximates its first-best payoffs even when firing and large punishments are unavailable.

**Lundi 10 février 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**LEVINE David**(EUI, Florence) :__Conict, Evolution, Hegemony, and the Power of the State__**Co-author(s) : Salvatore Modica**- RésuméIn a model of evolution driven by conict between societies more powerful states have an advantage. When the inuence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions dier in their exclusiveness we nd that these hegemonies will be ineciently extractive in the sense of having ineciently high taxes, high compensation for state ocials, and low welfare. The theory also predicts that they are most likely overthrown by fanatic bands who maximize power ignoring incentive constraints.

**Lundi 3 février 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MENGEL Frederike**(University of Essex) :__An Experiment on Belief Formation in Networks__- RésuméWe analyse belief formation in social networks in a laboratory experiment. Our 3 x 3 design varies the network structure and the amount of information agents have about it. Agents observe an imperfect private signal on the true state of the world and then repeatedly guess the true state, observing the guesses of their network neighbours in each period. Participants' individual choices are well explained by a model of naive learning, but not by Bayesian learning. Comparative statics regarding signal dispersion and the time it takes to reach a consensus are also in line with the naive model. The model predictions regarding whether a consensus is reached and whether the truth is learned are only partially reflected in the data. Changes in behaviour induced by the amount of information participants have about the network structure cannot be explained by the naive model at all. We then estimate a larger class of models and find that the most successful participants do account for correlations in neighbours' guesses (unlike the naive model suggests), place less weight on themselves compared to others, but increase the weight placed on themselves over time. We propose a simple belief formation model that reflects these properties and show that it does well when confronted with the data

**Lundi 27 janvier 2014 17:00-18:15****GOTTARDI Piero**(EUI Florence) :__Risk Sharing and Contagion in Networks__**Co-author(s) : Antonio Cabrales and Fernando Vega Redondo**- Texte intégral [pdf]

**Lundi 20 janvier 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**WEILL Pierre-Olivier**(UCLA) :__The Market for OTC Derivatives__**Co-author(s) : Andrew G. Atkeson & Andrea L. Eisfeldt**- Texte intégral [pdf]

**Lundi 13 janvier 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**MARIOTTI Thomas Mariotti**(Toulouse School of Economics) :__Researcher's Dilemma__**co-authors: Catherine Bobtcheff and Jérôme Bolte**- RésuméWe model academic competition as a game in which researchers fight for priority. Researchers privately experience breakthroughs and decide how long to let their ideas mature before making them public, thereby establishing priority. In a two-researcher, symmetric environment, the resulting preemption game has a unique equilibrium. We study how the shape of the breakthrough distribution affects equilibrium maturation delays. Making researchers better at discovering new ideas or at developing them has contrasted effects on the quality of research outputs. Finally, when researchers have different innovative abilities, speed of discovery and maturation of ideas are positively correlated in equilibrium.

**Lundi 6 janvier 2014 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**TINN Katrin**:__*__

**Lundi 16 décembre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**HORNER Johannes**(Yale University) :__Optimal Design for Social Learning__**Co-author : Yeon-Koo Che**- RésuméThe goal of a recommender system is to facilitate social learning about a product based on the experimentation by early users of the product. Without appropriating their social contribution, however, early users may lack the incentives to experiment on a product. The associated "cold start" could then result in a demise of a potentially valuable product and a collapse of the social learning. This paper studies design of the optimal recommender system focusing on this incentive problem and the pattern of dynamic social learning that emerges from the recommender system. The optimal design trades off fully transparent social learning to improve incentives for early experimentation, by selectively over-recommending a product in the early phase of the product release. Under the optimal scheme, experimentation occurs faster than under full transparency but slower than under the first-best optimum, and the rate of experimentation increases over an initial phase and lasts until the posterior becomes sufficiently bad in which case the recommendation stops along with experimentation on the product. Fully transparent recommendation may become optimal if the (socially- benevolent) designer does not observe the agents’ costs or the agents choose the timing of receiving a recommendation.
- Texte intégral [pdf]

**Lundi 9 décembre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**BOMMIER Antoine**(ETH Zürich) :__A Robust Approach to Risk Aversion : Disentangling Risk Aversion and Elasticity of Substitution without giving up Preference Monotonicity__**co-author: François Le Grand**- RésuméWe investigate whether the set of Kreps and Porteus (1978) preferences include classes of preferences that are stationary, monotonic with respect to first order stochastic dominance, and well-ordered in terms of risk aversion. We prove that the class of preference s introduced by Hansen and Sargent (1995) in their robustness analysis is the only one that fulfills these properties. The paper therefore suggests a shift from the traditional approach to studying the role of risk aversion in recursive problems. We also provide applications, in which we discuss the impact of risk aversion on asset pricing and risk sharing.
- Texte intégral [pdf]

**Lundi 2 décembre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**HASHIMOTO Tadashi**(TSE) :__The Generalized Random Priority Mechanism with Budgets__- RésuméThis paper studies allocation problems with and without monetary transfers, such as multi-unit auctions, school choice, and course assignment. For this class of problems, we introduce a generalized random priority mechanism with budgets (GRP). This mechanism is always ex post incentive compatible and feasible. Moreover, as the market grows large, this mechanism can approximate any incentive compatible mechanism in the corresponding continuum economy. In particular, GRP can be used to approximate efficient and envy-free allocations, while preserving incentive compatibility and feasibility.

**Lundi 25 novembre 2013 17:00-18:15**- MSE-106-112, blv de l'Hôpital - 75013 Paris ( room 114)
**TRÖGER Thomas**(Mannheim University) :__Transparency or Opaqueness: The Optimal Design of Signals__**Co-author(s) : Timofiy Mylovanov (University of Pittsburgh)**- RésuméMany economic and political mechanisms and institutions are designed by parties who hold relevant private information that may be signalled through the mechanism. The designer may have incentives to conceal her information at the moment of proposing a mechanism, while keeping the discretion to participate in the mechanism herself. For example, sales contracts are sometimes opaque concerning what exactly is sold or at what price, and labor contracts typically do not specify wage or career paths in advance. Similar discretionary elements may be found in many regulation schemes. Earlier approaches by Maskin-Tirole and Myerson have assumed that arbitrary mechanisms can be used as signals, with no design restriction at all. On the other hand, classical signaling games (like Spence's) take a (typically low-dimensional) set of signals as exogenously given while the possible design of signals is ignored. As a unifying property that bridges the gap between these two extremes, we propose that any finite collection of signals may be composed into a new signal. Our approach yields existence and characterization results that open the door to a broad range of applications.

**Lundi 18 novembre 2013 17:00-18:15**- MSE-106-112, blv de l'Hôpital - 75013 Paris (room 114)
**MORELLI Massimo**(Columbia University) :__Reelection through Division__**Co-author(s) : Richard Van Weelden**- RésuméWe provide a positive analysis of effort allocation by a politician facing reelection when voters are uncertain about the politician’s preferences on a divisive issue. We then use this framework to derive normative conclusions on the desirability of transparency and other institutional design features. There is a pervasive incentive to “posture” by over-providing effort to pursue divisive policies, even if all voters would strictly prefer to have a consensus policy implemented. As such, the desire of politicians to convince voters that their preferences are aligned with the majority can lead them to choose strictly pare to dominated effort allocations. Transparency over the politicians’ effort choices can either mitigate or re-enforce the distortions depending on the strength of politicians’ office motivation and the efficiency of institutions. When re-election concerns are paramount, and executive institutions are strong, transparency about effort choices can be bad for both incentivizing politicians and for sorting.

**Lundi 14 octobre 2013 17:00-18:15**- MSE-106-112, blv de l'Hôpital - 75013 Paris
**JACKSON Matthew**:__*__

**Lundi 7 octobre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**FORGES Françoise**(U. Paris-Dauphine) :__Bayesian repeated games__**Co-author(s): Antoine Salomon**- RésuméBayesian repeated games Françoise Forges and Antoine Salomon(Paris-Dauphine) Abstract : The Folk theorem characterizes the (subgame perfect) Nash equilibrium payoffs of an undiscounted or discounted infinitely repeated game - with fully informed, patient players - as the feasible individually rational payoffs of the one-shot game. To which extent does the result still hold when every player privately knows his own payoffs ? Under standard assumptions, the Nash equilibria of the Bayesian infinitely repeated game without discounting are payoff equivalent to tractable separating equilibria and can be achieved as interim cooperative solutions of the initial Bayesian game. This characterization does not apply to discounted games with sufficiently patient players. In a class of public good games, the set of Nash equilibrium payoffs of the undiscounted game can be empty, while limit (perfect Bayesian) Nash equilibrium payoffs of the discounted game, as players become infinitely patient, do exist. These equilibria share some features with the ones of multi-sided reputation models.

**Lundi 30 septembre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**KETS Willemien**(Northwestern) :__Finite Depth of Reasoning and Equilibrium Play in Games with Incomplete Information__- Texte intégral [pdf]

**Lundi 23 septembre 2013 17:00-18:15**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**VIVES Xavier**(IESE Business School) :__Endogenous Public Information and Welfare in Market Games__- Texte intégral [pdf]

**Lundi 16 septembre 2013 17:00-18:15**- Campus Jourdan, bâtiment E, rez-de-chaussée, salle 101
**WOLINSKY Asher**(Northwestern) :__A Common Value Auction with bidder Solicitation__

**Lundi 17 juin 2013 17:00-18:30**- MSE
**LIZZERI Alessandro**(NYU) :__Government Policy with Time Inconsistent Voters__

**Lundi 10 juin 2013 17:00-18:30**- MSE - salle S17
**MACLEOD Bentley**(Columbia University ) :__Diagnosis and Unnecessary Procedure Use: Evidence from C-Section__

**Lundi 3 juin 2013 17:00-18:30**- MSE sixth floor
**RUBINSTEIN Ariel**(Tel Aviv University and NYU) :__A Model of Persuasion with Boundedly Rational Agents__**Co-author(s) : Jacob Glazer**

**Lundi 27 mai 2013 17:00-18:30****La séance a été annulée.****CHOI Syngjoo**(University College London) :__TBA__

**Mardi 21 mai 2013 17:00-18:30****CHASSANG Sylvain**(Princeton University) :__Corruption, Intimidation and Whistleblowing: A Theory of Inference from Unveriable Reports__**Co-author(s) : Gerard Padro i Miquel (LSE)**

**Lundi 13 mai 2013 17:00-18:30****SONMEZ Tayfun**(Boston College) :__The Demise of Walk Zones in Boston: Priorities vs. Precedence in School Choice__**Co-auteurs : Umut M. Dur, Scott Duke Kominers and Parag A. Pathak**- RésuméSchool choice plans in many cities grant students higher priority for some (but not all) seats at their neighborhood schools. This paper demonstrates how the precedence order, i.e. the order in which different types of seats are filled by applicants, has quantitative effects on distributional objectives comparable to priorities in the deferred acceptance algorithm. While Boston's school choice plan gives priority to neighborhood applicants for half of each school's seats, the intended effect of this policy is lost because of the precedence order. Despite widely held impressions about the importance of neighborhood priority, the outcome of Boston's implementation of a 50-50 school split is nearly identical to a system without neighborhood priority. We formally establish that either increasing the number of neighborhood priority seats or lowering the precedence order positions of neighborhood seats at a school have the same effect : an increase in the number of neighborhood students assigned to the school. We then show that in Boston a reversal of precedence with no change in priorities covers almost three-quarters of the range between 0% and 100% neighborhood priority. Therefore, decisions about precedence are inseparable from decisions about priorities. Transparency about these issues—in particular, how precedence unintentionally undermined neighborhood priority—led to the abandonment of neighborhood priority in Boston in 2013.
- Texte intégral [pdf]

**Lundi 22 avril 2013 17:00-18:30****DHILLON Amrita**(Warwick University) :__Status, Incentives and Corruption__**Co-author(s): Antonio Nicolo**- RésuméWe re-examine the hypothesis that increasing compensation to public sector officials reduces corruption, defined as bribe-taking. We introduce heterogeneity among agents on the dimension of how much they are motivated by "status" or prestige of a profession vs. purely monetary compensation. We show that increasing wages in this setting may increase corruption under realistic conditions on parameters. Using "prestige" as a choice variable for policy may have reinforcing effects in reducing corruption: it reduces both bribe taking behavior as well as improves the selection of workers in the public sector. Media, on the other hand, by emphasizing the "bad news” about corruption may worsen corruption reducing the status of a profession. Finally, we show that in our setting the use of non-monetary bonus, like medals, may improve both the quality of the officials and their honesty.

**Lundi 15 avril 2013 17:00-18:30****SEIDL Adam**(Berkeley & CEU Budapest) :__Treasure Hunt: Social Learning in the Field__**Co-author(s): Markus Mobius and Tuan Phan)**- RésuméWe seed individuals in a real-world social network with information about quiz questions to experimentally measure the effectiveness of social learning. Using data on both the pre-existing social network and the actual conversation network, we find strong evidence that people learn from direct and indirect friends, but also that—unlike in standard models—information transmission is imperfect. We then compare two theories of social learning: a DeGroot-style model in which people double-count signals that reach them through multiple paths, and a “Streams” model in which people tag the source of information and hence do not double-count. In the conversation network, the weight a decision maker attaches to the signal of a person increases in the number of paths between them when the person is an indirect friend, but not when she is a direct friend. This fact is consistent with the Streams model in which multiple paths only increase the weight by increasing the transmission probability when—like with an indirect informer—transmission is imperfect. Structural and reduced-form estimates which exploit this and other variation generally support the Streams model combined with probabilistic transmission in our setting.

**Lundi 8 avril 2013 17:00-18:30****RIEDL Arno**(Maastricht) :__Indecisiveness under Uncertainty: Incomplete Preferences in Disguise__**Co auteur : Elena Cettolin (Maastricht University)**

**Lundi 25 mars 2013 17:00-18:30****DOS SANTOS FERREIRA Rodolphe**(Université Strasbourg) :__Household behavior and individual autonomy: An extended Lindahl mechanism__**Co-author(s): Claude d'Aspremont**

**Lundi 18 mars 2013 17:00-18:30****OTTAVIANI Marco**(Bocconi) :__1) Research and the Approval Process 2) Strategic Research Bias__**1)Co-author(s): Emeric Henry 2)Co-author(s) Peter N. Sorensen**

**Lundi 18 février 2013 17:00-18:30****CONDORELLI Daniele**(Essex) :__Selling through Referrals__**Coauteurs : A. Galeotti et V. Skreta**- RésuméWe introduce referrals in a model of intermediated trade with asymmetric information. A seller has an object for sale and can reach buyers only through intermediaries, who also have privileged information about the valuations of the buyers. Intermediaries can refer their buyers to the seller and release information in exchange for a referral payment, but can also choose to mediate the transaction by buying the object and reselling it. We prove that, whenever referral fees are positive, intermediaries always refer all their buyers and report all their information to the seller. Hence, referrals overcome the profit loss due to double marginalization. The gain in profits is shared between seller and intermediaries depending on who has control of the referral. We also identify environments with additional market frictions in which intermediated trade coexists with referrals.

**Lundi 11 février 2013 17:00-18:30****ELLIGSEN Tore**(Stockholm School of Economics) :__Paying for Staying: Compensation Contracts and the Retention Motive__- RésuméTalented employees may leave the Örm in order to work elsewhere. Focusing on the portability of employeesíresources, we develop a model in which compensation contracts are designed to prevent ine¢ cient departure. The model rationalizes the widespread use of áat salaries in combination with non-indexed stock options and is consistent with observed di§erences in compensation contracts across individuals, Örms, industries, and countries
- Texte intégral [pdf]

**Lundi 4 février 2013 17:00-18:30****MUKERJI Sujoy**(University of Oxford) :__Relevance and Symmetry__**Co-auteurs : Peter Klibanoff and Kyoungwon Seo**- RésuméThis paper provides a method to identify components of preference reflecting information and those reflecting only tastes. Important to this method is the identication of a unique set of revealed probability assignments (called relevant measures) from preferences over acts. We characterize these relevant measures and show where they appear in representations of preferences. This method works for a large set of preference models provided that the state space is treated as if it had a symmetric, "i.i.d. with unknown parameters," structure. Relevant measures are shown to characterize revealed information and to help in identifying taste components of preference representations. We apply our findings to four well-known representations of ambiguity-sensitive preferences: the -MEU model, the smooth ambiguity model, the extended MEU with contraction model and the vector expected utility model. For each representation, the theory identies both the set of relevant measures and components of the representation that reflect only tastes.
- Texte intégral [pdf]

**Lundi 28 janvier 2013 17:00-18:30****HARSTAD Bard**(Northwestern University) :__The Market for Conservation and other Hostages__- RésuméThis paper introduces the notion of "conservation goods" and shows how they differ fundamentally from traditional goods in dynamic settings. A conservation good (such as a tropical forest) is owned by a seller who is tempted to consume (or cut) it, but a buyer benefits more if the good is conserved. The buyer is unwilling to pay as long as the seller conserves, but the seller conserves only if the buyer is expected to buy. This contradiction implies that the market for conservation cannot be efficient, and conservation ends at a positive rate. Conservation is less likely if many buyers would benefit from it or if consumption has a low value. A rental market is similarly inefficient, and it dominates a sales market only if the value of conservation is low, the consumption value high, and if remote protection is costly. The theory explains why optimal conservation often fails and why conservation abroad is rented, while domestic conservation is bought
- Texte intégral [pdf]

**Lundi 21 janvier 2013 16:30-18:00****KOSZEGI Botond**(Berkeley) :__The Market for Deceptive Products__**co auteurs Paul Heidhues and Takeshi Murooka Attention : SEANCE A 16H30 GRANDE SALLE DE JOURDAN**- Texte intégral [pdf]

**Lundi 14 janvier 2013 17:00-18:30****LEGROS Patrick**(Université Libre de Bruxelles) :__Mismatch, Rematch and Investment__

**Lundi 7 janvier 2013 17:00-18:30****BAILLON Aurélien**(Erasmus University Rotterdam) :__Prudence (and more) with respect to Uncertainty and Ambiguity__

**Lundi 17 décembre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**MYLOVANOV Tymofiy**(University of Pennsylvania) :__Mechanism Design by an Informed Principal: The Quasi-Linear Private-Values Case__**Co-auteur : Thomas Tröger**- Texte intégral [pdf]

**Lundi 10 décembre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**BEN PORATH Elchanan**(Hebrew University of Jerusalem) :__Optimal Allocation with Costly Verification__**Co-author(s) : Eddie Dekel and Bart Lipman**

**Lundi 3 décembre 2012 17:00-18:30**- Maison des Sciences Economiques (106-112, bouleverd de l'Hôp
**BIERBRAUER Felix**(Université de Cologne) :__Mechanism Design and Intentions__- Texte intégral [pdf]

**Lundi 26 novembre 2012 17:00-18:30**- Maison des Sciences Economiques (106-112, boulevard de l'Hôp
**KRÄHMER Daniel**(Bonn Universität) :__Optimal Sequential Delegation__- Texte intégral [pdf]

**Lundi 12 novembre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**HESKI Bar-Isaac**(Rotman School of Management, University of Toronto) :__Reputation for a Servant of Two Masters__**Co-auteur Joyee Ded**

**Lundi 22 octobre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**KONSTANTINOS E. Zachariadis**(London School of Economics) :__*__

**Lundi 15 octobre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**ROGERS Brian**(Northwestern University) :__"Symmetric play in repeated allocation games"__**Co-auteur : Christoph Kuzmics, Thomas Palfrey**- RésuméWe study symmetric play in a class of repeated games when players are patient. We show that, while the use of symmetric strategy profiles essentially does not restrict the set of feasible payoffs, the set of equilibrium payoffs is an interesting proper subset of the feasible and individually rational set. We also provide a theory of how rational individuals play these games, identifying particular strategies as focal through the considerations of Pareto optimality and simplicity. We report experiments that support many aspects of this theory.
- Texte intégral [pdf]

**Lundi 8 octobre 2012 17:00-18:30**- MSE - 106-112, boulevard d'Hôpital - Salle 6ème - 75013 Pari
**INDERST Roman**(Universität Frankfurt) :__Tailored Advertising and Consumer Privacy__

**Lundi 1er octobre 2012 17:00-18:30**- Maison des Sciences Economiques-Université de Paris I (106,
**RENOU Ludovic**(University of Essex) :__"Repeated Nash Implementation"__

**Lundi 24 septembre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**DASGUPTA Amil**(LSE) :__"The Wall Street Walk when Blockholders Compete for Flows"__**Co-auteur : Giorgia Piacentino**- RésuméAn important theoretical literature argues that the threat of exit can be an effective governance device when the blockholder is a principal. However, many blockholders are money managers. Different types of money managers care to different degrees about investor flows. We show that when blockholders are sufficiently flow-motivated, exit will fail as a disciplining device, while if they are sufficiently profit-motivated, it is effective. This generates testable implications across different classes of funds. We show that the threat of exit complements shareholder voice, and thus provide an explanation for the observed variation in how different types of funds use voice.
- Texte intégral [pdf]

**Lundi 17 septembre 2012 17:00-18:30**- Maison des sciences économiques (MSE), 106 - 112 boulevard d
**STRAUSZ Roland**(Humboldt-Universität Berlin) :__The Benefits of Sequential Screening__

**Lundi 18 juin 2012 17:00-18:30**- MSE - Salle 17
**ASHEIM Geir**(Université d'Oslo) :__Epistemically stable strategy sets__**Co-author(s): Jörgen Weibull et Mark Voorneveld**

**Lundi 21 mai 2012 17:00-18:30****LEBRUN Bernard**(University of York, Canada) :__Revenue-superior variants of the second-price auction__

**Lundi 14 mai 2012 17:00-18:30****NEHRING Klaus**(UCDavis) :__Majority Rule in the Absence of a Majority__**Co-auteur : Marcus Pivato**- Texte intégral [pdf]

**Lundi 7 mai 2012 17:00-18:30****PRAT Julien**(Université de Barcelona) :__Dynamic Contacts when Agent's Quality is Unknown__**Co-author(s): Boyan Jovanovic**- Texte intégral [pdf]

**Lundi 30 avril 2012 17:00-18:30****NAGEL Rose-Marie**(UPF-ICREA) :__Assessing strategic Risk with fMRI__**Co-author(s): Giorgio Coricelli (CIMeC, U. Trento, CNRS-Bron), Andrea Brovelli (CNRS-Marseille), Frank Heinemann (TU-Berlin)**- RésuméNeuroscientists and economists have recently begun to study jointly how strategic thinking regulates human individual and social behaviour. In this paper we measure strategic uncertainty in coordination games with strategic complementarities (CC) and substitutes(CS) in 2 person and large groups and risk within lottery setups, all framed in a similar way. The question we are addressing is whether the neural systems mediating decisions in individual and social context are distinct. More precisely, we are trying to identify whether risk and strategic uncertainty are mediated by different brain networks. We found enhanced activity in bilateral anterior insula related to outcome uncertainty. We see clear differences in brain activity when comparing risk averse subjects and risk loving subjects playing lotteries and CC-games (stug-hunt games), but not when playing CS-games (entry games). This complements our behavioral data which shows a strong correlation between risk attitudes and CC-games, but no correlation between risk attitudes and CS-games. Activity in the medial prefrontal cortex (mPFC), superior temporal sulcus, temporo-parietal junction, and posterior cingulated cortex was related to playing in stug hunt games and entry games. Increasing strategic uncertainty was correlated with neural activity in the mPFC. Our results suggest that a common neural substrate (anterior insula) is shared in the individual and social contexts for the resolution of uncertainty. Moreover, the pattern of activity in the mPFC revealed the fundamental role of this area in strategic reasoning (Coricelli and Nagel, 2009, PNAS).

**Lundi 23 janvier 2012 17:00-18:30****PIKETTY Thomas**(PSE) :__A Theory of Optimal Capital Taxation__**Co-author(s): E. Saez, (Berkeley)**- Texte intégral [pdf]

**Lundi 16 janvier 2012 17:00-19:00****JIN Ginger**(University of Maryland) :__*__

**Lundi 9 janvier 2012 17:00-18:30****DESSEIN Wouter**(Columbia Business School) :__Rational Inattention and Organizational Focus__**Co-authors : Andrea Galeotti & Tano Santos**

**Lundi 12 décembre 2011 17:00-18:30**- Maison des Sciences Economiques-PARIS 1- Salle S/17 (106, bo
**ROCHET Jean-Charles**(U.Zürich et TSE ) :__A theoretical foundation for the stakeholder corporation__- Texte intégral [pdf]

**Lundi 5 décembre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle 6ème - (106 -
**BOLTON Patrick**(Columbia University) :__Cream Skimming in Financial Markets__**Co-author(s): Tano Santos & Jose Scheinkman**

**Lundi 28 novembre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle Salle 6ème - (
**HAERINGER Guillaume**(Universitat Autonoma de Barcelona) :__Two-Sided Matching with One-Sided Data__**Joint with Vincent Iehlé**

**Lundi 21 novembre 2011 17:00-18:30**- Maison des Sciences Economiques-PARIS 1- Salle S/17 (106-112
**ELIAZ Kfir**(Brown University) :__On the strategic disclosure of feasible options in bargaining__**joint with Geoffroy de Clippel**- Texte intégral [pdf]

**Lundi 14 novembre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle Salle 6ème - (
**KASTL Jakub**(Stanford University) :__*__

**Lundi 7 novembre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle Salle 6ème - (
**SAKOVICS Jozsef**(University of Edinburgh) :__The marginal utility of money: A modern Marshallian approach to consumer choice__**joint avec Daniel Friedman**- Texte intégral [pdf]

**Lundi 31 octobre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle Salle 6ème - (
- *

**Lundi 17 octobre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle 6ème - (106 -
**PAVONI Nicola**:__Optimal Income Taxation with Asset Accumulation__- Texte intégral [pdf]

**Lundi 10 octobre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE), Salle S/17, 106 - 11
**BLAVATSKYY Pavlo**(University of Innsbrück) :__Stronger Utility__

**Lundi 3 octobre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE), - Salle 6ème - (106 -
**YAMASHITA Takuro**(Toulouse School of Economics) :__A Necessary Condition for Robust Implementation: Theory and Applications__- Texte intégral [pdf]

**Lundi 26 septembre 2011 17:00-18:30**- MSE-PARIS 1- Salle 6ème (106, boulevard de l'Hôpital - 75013
**BICH Philippe**(Paris 1, MSE) :__Sharing Rules Equilibria in Discontinuous Games__**joint avec Rida Laraki**

**Lundi 19 septembre 2011 17:00-18:30**- Maison des Sciences Économiques (MSE) - Salle S/17 (106 - 11
**KUHN Kai-Uwe**(University of Michigan and CEPR) :__Communication, Renegotiation, and the Scope for Collusion__- Texte intégral [pdf]

**Lundi 23 mai 2011 17:30-19:00****VAYANOS Dimitri**(LSE) :__An Institutional Theory of Momentum and Reversal__**Co-auteur(s) : Paul Woolley**- RésuméWe propose a rational theory of momentum and reversal based on delegated portfolio man- agement. Flows between investment funds are triggered by changes in fund managers’ efficiency, which investors either observe directly or infer from past performance. Momentum arises if fund flows exhibit inertia, and because rational prices do not fully adjust to reflect future flows. Re- versal arises because flows push prices away from fundamental values. Besides momentum and reversal, fund flows generate comovement, lead-lag effects and amplification, with all effects being larger for assets with high idiosyncratic risk. Managers’ concern with commercial risk can make prices more volatile. Keywords: Asset pricing, delegated portfolio management, momentum, reversal

**Lundi 16 mai 2011 17:30-19:00****KRANTON Rachel**(Duke University) :__Redistribution, Ideology, and Identity__- RésuméAbstract: This paper presents a novel experiment of redistribution in social settings. While participants on average act fairly, the within subject design reveals a range of individual behavior. Behavior is correlated with subjects, political ideology, as distinct from subjects, political identity. When separated into groups, identity comes to the fore. Subjects redistribute significantly less to people in other groups. In a political group treatment, affiliates of the Democratic and Republican parties display significantly less fair and more competitive behavior towards each other than non-party affiliates. The experiment finds support for premise that social identity affects redistribution and decision-making.

**Lundi 9 mai 2011 17:30-19:00****MYATT David P.**(Nuffield College) :__On the Rational Choice Theory of Voter Turnout__- RésuméI consider a two-candidate election in which there is aggregate uncertainty about the popularity of each candidate, where voting is costly, and where participants are instrumentally motivated. The unique equilibrium predicts substantial turnout under reasonable parameter configurations, and greater turnout for the apparent underdog offsets the expected advantage of the perceived leader. I also present clear predictions about the response of turnout and the election outcome to various parameters, including the importance of the election; the cost of voting; the perceived popularity of each candidate; and the accuracy of pre-election information sources, such as opinion polls.
- Texte intégral [pdf]

**Lundi 2 mai 2011 17:30-19:00****STOLE Lars**(University of Chicago) :__Public Delegated Agency Games__**Co-auteur(s) : David Martimort**- Texte intégral [pdf]

**Lundi 4 avril 2011 17:30-19:00****RADY Sven**(University of Munich) :__Strongly Symmetric Equilibria in Bandit Games__

**Lundi 28 mars 2011 17:30-19:00****GOTTARDI Piero**(European University Institute) :__Ramsey Asset Taxation Under Asymmetric Information__**Co-auteur(s) : Nicola Pavoni**- Texte intégral [pdf]

**Lundi 21 mars 2011 17:30-19:00****GOEREE Jacob**(Zurich) :__Spectrum Auction Design__

**Lundi 14 mars 2011 17:30-19:00****MORRIS Stephen**(Princeton University) :__Correlated Equilibrium and Incomplete Information__**Co-auteur(s) : Dirk Bergemann**

**Lundi 7 mars 2011 17:00-18:30****HERINGS Jean-Jacques**(Maastricht University) :__Transferable utility games with uncertainty__**Co-auteur(s) : Helga Habis**- Texte intégral [pdf]

**Lundi 28 février 2011 17:00-18:30****GARY-BOBO Robert**(CREST-INSEE) :__Strikes and slowdown in a theory of relational contracts__**co-auteur(s) : Touria Jaaidane**- Texte intégral [pdf]

**Lundi 14 février 2011 17:00-18:30****ARYAL Gaurab**(Australian National University) :__Identication of Insurance Models with Multidimensional Screening__**co-écrit avec Isabelle Perrigne et Quang Vuong**- Texte intégral [pdf]

**Lundi 7 février 2011 17:00-18:30****PETERS Mike**(University of British Columbia, Vancouver) :__On the revelations principle and reciprocal mechanisms in competing mechnism games__- Texte intégral [pdf]

**Lundi 31 janvier 2011 17:00-18:30****NOCKE Volker**(University of Mannheim) :__Merger Policy with Merger Choice__**Co-auteur(s) : Michael D. Whinston.**- Texte intégral [pdf]

**Lundi 24 janvier 2011 17:00-18:30****TAKAHASHI Saturo**(Princeton University) :__Interdependent Preferences and Strategic Distinguishability__**co-auteur(s) : Dirk Bergemann & Stephen Morris**- Texte intégral [pdf]

**Lundi 17 janvier 2011 17:00-18:30****TOMALA Tristan**(HEC ) :__Mechanism Design and Communication Networks__**Co-auteur(s): Ludovic Renou**- Texte intégral [pdf]

**Lundi 13 décembre 2010 17:00-18:30****SOBEL Joel**(UCSD) :__Markets and Other-Regarding Preferences__- Texte intégral [pdf]

**Lundi 6 décembre 2010 17:00-18:30****KALAI Ehud**(Northwestern University) :__A Cooperative Value for Bayesian Games: A first best efficient solution for strategic games with asymmetric information__**joint work with Adam T. Kalai**- Texte intégral [pdf]

**Lundi 29 novembre 2010 17:00-18:30****HELLWIG Christian**(Toulouse School of Economics) :__Information Aggregation and Investment Decisions__**Co-auteur(s) : : Elias Albagli & Aleh Tsyvinski**

**Lundi 22 novembre 2010 17:00-18:30****KANDORI Michihiro**(Université de Tokyo) :__Towards a Belief-Based Theory of Repeated Games with Private Monitoring__**joint with Ichiro Obara**- Texte intégral [pdf]

**Vendredi 22 octobre 2010 17:00-18:30****KANDORI Michihiro**(Université de Tokyo) :__Towards a Belief-Based Theory of Repeated Games with Private Monitoring__**joint with Ichiro Obara**- Texte intégral [pdf]

**Lundi 18 octobre 2010 17:00-18:30****CHAMLEY Christophe**(PSE) :__Self-fulfilling traps with money as a medium of exchange__- Texte intégral [pdf]

**Lundi 27 septembre 2010 17:00-18:30****LAVI Ron**(Israel Institute of Technology) :__Side-Communication Yields Eciency of Ascending Auctions: The Two-Items Case__**joint with Sigal Oren**- Texte intégral [pdf]

**Lundi 20 septembre 2010 17:00-18:30****KOJIMA Fujito**(Stanford University) :__Improving Efficiency in Matching Markets with Regional Caps: The Case of the Japan Residency Matching Program__**Co-auteur(s) : Yuichiro Kamada**- Texte intégral [pdf]

**Lundi 14 juin 2010 17:00-18:30**- Cité Universisitaire, Fondation Victor Lyon- 27 bd Jourdan 7
**LEVIN Dan**(Ohio-State University) :__Can Relaxation of Beliefs Rationalize the Winner’s Curse? An Experimental Study__**Co-auteur(s) : Asen Ivanov & Muriel Niederle**- Texte intégral [pdf]

**Lundi 24 mai 2010 17:00-18:30****WEYL Glen**(Harvard) :__*__

**Lundi 10 mai 2010 17:00-18:30****La séance a été annulée.****KALAI Ehud**(Northwestern) :__*__

**Lundi 3 mai 2010 17:00-18:30****BASHKAR V.**(UCL) :__*__

**Lundi 12 avril 2010 17:00-18:30****BIGLAISER Gary**:__*__

**Lundi 29 mars 2010 17:00-18:30****KORIYAMA Yukio**(Ecole Polytechnique) :__Price competition in the market for lemons__**Co-auteur(s) : Mark Voorneveld & Jorgen Weibull.**

**Lundi 22 mars 2010 17:00-18:30****MEZZETTI Claudio**(University of Warwick) :__Manipulative Disclosure__

**Lundi 15 mars 2010 17:00-18:30****CANTILLON Estelle**(Ecares) :__*__

**Lundi 8 mars 2010 17:00-18:30****FEVRIER Philippe**(CREST) :__*__

**Lundi 15 février 2010 17:00-18:30****SAMUELSON Larry**(YALE) :__*__

**Lundi 14 décembre 2009 17:00-18:30****GROMB Denis**(INSEAD) :__Financially Constrained Arbitrage and Cross-Market Contagion__- Texte intégral [pdf]

**Lundi 7 décembre 2009 17:00-18:30****ESTEBAN Joan**(Universitat Autònoma de Barcelona) :__Redistributive Taxation and Public Expenditure__**co-authored with Sanghamitra Bandyopadhyay**- Texte intégral [pdf]

**Lundi 30 novembre 2009 17:00-18:30****POUGET Sebastien**(Toulouse School of Economics) :__Rational and irrational bubbles: an experiment__- Texte intégral [pdf]

**Lundi 23 novembre 2009 17:00-18:30****NEWMAN Andrew**(Boston University) :__Loopholes: Social Learning and the Evolution of Contract Form (with P. Jehiel).__

**Lundi 16 novembre 2009 17:00-18:30****SKRETA Vasiliki**(NYU, Stern) :__What to put on the table__

**Lundi 26 octobre 2009 17:00-18:30****PARK In-Uck**(University of Bristol) :__Seller Reputation and Trust in Pre-Trade Communication__**Co-auteur(s) : Bruno Jullien**- RésuméIt is shown that if there is adverse selection on seller's ability in experience goods market, credible communication can be sustained by reputation motives in spite of the inherent conflict of interests between sellers and buyers. In the absence of "commitment" types, reputation motives are explained as a consequence of equilibrium interplay between the market's perception on a seller's ability to deliver quality and the level of trust it places on the information he provides. Moreover, reputation motives do not disappear even after the seller's ability is revealed. This model is applied to examine the extent to which consumer rating systems may discipline sellers in honestly informing buyers about the quality of their product. Also analyzed is the im- pact of the possibility that sellers may restart as new traders by obtaining new identities. (JEL Codes: C73, D82, D83, L14) Keywords: cheap talk, consumer rating system, reputation, trust.
- Texte intégral [pdf]

**Lundi 26 octobre 2009 17:00-18:30****PARK In-Uck**(University of Bristol) :__Seller Reputation and Trust in Pre-Trade Communication__**Co-auteur(s) : Bruno Jullien**- RésuméIt is shown that if there is adverse selection on seller's ability in experience goods market, credible communication can be sustained by reputation motives in spite of the inherent conflict of interests between sellers and buyers. In the absence of "commitment" types, reputation motives are explained as a consequence of equilibrium interplay between the market's perception on a seller's ability to deliver quality and the level of trust it places on the information he provides. Moreover, reputation motives do not disappear even after the seller's ability is revealed. This model is applied to examine the extent to which consumer rating systems may discipline sellers in honestly informing buyers about the quality of their product. Also analyzed is the im- pact of the possibility that sellers may restart as new traders by obtaining new identities. (JEL Codes: C73, D82, D83, L14) Keywords: cheap talk, consumer rating system, reputation, trust.
- Texte intégral [pdf]

**Lundi 19 octobre 2009 17:00-18:30****ROTH Alvin**(Harvard University) :__Kidney Exchange: recent developments and open questions__

**Lundi 19 octobre 2009 17:00-18:30****ROTH Alvin**(Harvard University) :__Kidney Exchange: recent developments and open questions__

**Lundi 12 octobre 2009 17:00-18:30****MANEA Mihai**(MIT) :__Bargaining in Stationary Networks__

**Lundi 12 octobre 2009 17:00-18:30****MANEA Mihai**(MIT) :__Bargaining in Stationary Networks__

**Lundi 5 octobre 2009 17:00-18:30****GHATAK Maitreesh**(LSE ) :__The de Soto Effect__**Co-auteur(s) : Tim Besley**- Texte intégral [pdf]

**Lundi 5 octobre 2009 17:00-18:30****GHATAK Maitreesh**(LSE ) :__The de Soto Effect__**Co-auteur(s) : Tim Besley**- Texte intégral [pdf]

**Lundi 28 septembre 2009 17:00-18:30****ELLINGSEN Tore**(Stockholm School of Economics) :__Bilateral Bargaining with Durable Commitments__

**Lundi 28 septembre 2009 17:00-18:30****ELLINGSEN Tore**(Stockholm School of Economics) :__Bilateral Bargaining with Durable Commitments__

**Lundi 8 juin 2009 17:00-18:30****LIZZERI Alessandro**(New-York University) :__Sequential deliberation__

**Lundi 8 juin 2009 17:00-18:30****LIZZERI Alessandro**(New-York University) :__Sequential deliberation__

**Lundi 8 juin 2009 17:00-18:30****LIZZERI Alessandro**(New-York University) :__Sequential deliberation__

**Lundi 25 mai 2009 17:00-18:30****HARSTAD Bart**(Northwestern University) :__The Dynamics of Climate Agreements__- Texte intégral [pdf]

**Lundi 18 mai 2009 17:00-18:30****PALACIOS-HUERTA Ignacio**(LSE) :__Field Centipedes__

**Lundi 11 mai 2009 17:00-18:30****ARAUJO Aloisio**(IMPA FGV) :__Regulating financial markets in a GEI__- Texte intégral [pdf]

**Lundi 4 mai 2009 17:00-18:30****KRANTON Rachel E.**(Duke University) :__Strategic Interaction in Networks__- Texte intégral [pdf]

**Lundi 27 avril 2009 17:00-18:30****DHILLON Amrita**(Warwick University) :__Development and the Interaction of Enforcement Institutions__- Texte intégral [pdf]

**Lundi 6 avril 2009 17:00-18:30****DEMANGE Gabrielle**(PSE) :__Sharing information in web communities__- Texte intégral [pdf]

**Lundi 30 mars 2009 17:00-18:30****PERSICO Nicola**(New York University) :__A Search-Theoretic Model of the Retail Market for Illicit Drugs__**Co-auteurs: Manolis Galenianos et Rosalie Liccardo Pacula**- Texte intégral [pdf]

**Lundi 23 mars 2009 17:00-18:30****JACKSON Matthew O.**(Stanford University) :__Understanding the Speed of Learning and Diffusion in Social Networks__- Texte intégral [pdf]

**Lundi 16 mars 2009 17:00-18:30****KARTIK Navin**(Columbia University) :__Implementation with Evidence__**Co-auteur: Olivier Tercieux**

**Lundi 9 mars 2009 17:00-18:30****MOLDOVANU Benny**(University of Bonn) :__Learning About The Future and Dynamic Efficiency__**Co-auteur: Alex Gershkov**- Texte intégral [pdf]

**Lundi 2 mars 2009 17:00-18:30****WINTER Eyal**(Hebrew University of Jerusalem) :__Mental Equilibrium and Rational Emotions__

**Lundi 9 février 2009 17:00-18:30****SALANIE Bernard**(CREST et Columbia University) :__Assortative Matching on the Marriage Market: A Structural Investigation__- Texte intégral [pdf]

**Lundi 2 février 2009 17:00-18:30****GONZALES Julio**(University of Vigo) :__Essentializing equilibrium concepts__**Co-auteurs: Federica Briata, Ignacio García-Jurado et Fioravante Patrone**

**Lundi 26 janvier 2009 17:00-18:30****DASGUPTA Amil**(London School of Economics) :__The Price Impact of Institutional Herding__**Co-auteurs: Andrea Prat et Michela Verardo**

**Lundi 19 janvier 2009 17:00-18:30****LAROQUE Guy**(Paris School of Economics) :__Optimal taxation in the extensive model__- Texte intégral [pdf]

**Lundi 12 janvier 2009 17:00-18:30****TROEGER Thomas**(University of Bonn) :__Collusion via Resale__- Texte intégral [pdf]

**Lundi 5 janvier 2009 17:00-18:30****La séance a été annulée.****DEMANGE Gabrielle**(PSE) :__*__

**Lundi 15 décembre 2008 17:00-18:30****BLOCH Francis**(Ecole Polytechnique) :__Cores of Combined Games__**Co-auteur: G. de Clippel**

**Lundi 8 décembre 2008 17:00-18:30****VIVES Xavier**(IESE Business School and UPF) :__# * Strategic Supply Function Competition with Private Information__- Texte intégral [pdf]

**Lundi 1er décembre 2008 17:00-18:30****ARMSTRONG Mark**(University College London) :__A Model of Delegated Project Choice__- Texte intégral [pdf]

**Lundi 24 novembre 2008 17:00-18:30****La séance a été annulée.****KARTIK Navin**(University of Columbia) :__*__

**Lundi 17 novembre 2008 17:00-18:30****SABOURIAN Hamid**(University of Cambridge) :__Herding and Contrarian Behaviour in Efficient Financial Markets__- Texte intégral [pdf]

**Lundi 10 novembre 2008 17:00-18:30****NOLDEKE Georg**(Univ. of Basel) :__On the Strategic Foundations of Competitive Equilibrium__**Co-auteur : Stephan Lauermann (Univ. of Michigan)**

**Lundi 20 octobre 2008 17:00-18:30****CORBO Jacomo**(Harvard Univ.) :__Network Effects in Local Contribution Economies: Identification and Regulation__- Texte intégral [pdf]

**Lundi 13 octobre 2008 17:00-18:30****BENABOU Roland J.**(Princeton Univ.) :__Groupthink: Collective Delusions in Organizations and Markets__- Texte intégral [pdf]

**Lundi 29 septembre 2008 17:00-18:30****SZENTES Balázs**(Univ. of Chicago) :__Definable and Contractible Contracts__**Co-auteur: Michael Peters.**- Texte intégral [pdf]

**Lundi 9 juin 2008 16:00-17:30****HORNER Johannes**(Yale University) :__How robust is the folk theorem with imperfect public monitoring?__**Co-auteur : Wojciech OLSZEWSKI (Kellogg School of Management)**- Texte intégral [pdf]

**Lundi 2 juin 2008 17:30-19:00****CRAMTON Peter**(University of Maryland) :__Spectrum Auction Design__- RésuméSpectrum auctions are used by governments to assign and price licenses for wireless communication. The standard approach is the simultaneous ascending auction, in which many related lots are auctioned simultaneously in a sequence of rounds. I analyze the strengths and weaknesses of the approach with examples from US spectrum auctions. I then present a variation, the package clock auction, adopted by the UK, which addresses many of the problems of the simultaneous ascending auction while building on its strengths. The package clock auction is a simple dynamic auction in which bidders bid on packages of lots. Most importantly, the pricing rule and information policy are carefully tailored to mitigate gaming behavior. An activity rule based on revealed preference promotes price discovery throughout the clock stage of the auction. Truthful bidding is encouraged, which simplifies bidding and improves efficiency. Experimental tests confirm the advantages of the approach.
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**Lundi 26 mai 2008 17:30-19:00****SCHOTTER Andrew**(New York Univ.) :__Paying for Confindence : An Experimental Study of the Demand for Non-Instrumental Information__**Andrew SCHOTTER(New York Univ.) and Kfir ELIAZ**- Texte intégral [pdf]

**Lundi 19 mai 2008 17:30-19:00****POSTLEWAITE A.**(Univ. of Pennsylvania) :__Repeated Games and Limited Information Processing__- Texte intégral [pdf]

**Mardi 13 mai 2008 17:30-19:00****SAMUELSON Larry**(University of Wisconsin ) :__Auctions without Commitment__**Johannes HORNER**

**Lundi 5 mai 2008 17:30-19:00****La séance a été annulée.****BERGEMANN Dirk**(Yale University) :__*__

**Lundi 14 avril 2008 17:30-19:00****TATUR Tymon**(Bonn Univ.) :__General Evolutionary Equilibrium__

**Lundi 7 avril 2008 17:30-19:00****DEKEL Eddie**(Northwestern University) :__Self-Control and Random Strotz Representations__**Barton L. LIPMAN (Boston University)**- Texte intégral [pdf]

**Lundi 31 mars 2008 17:30-19:00****BENABIB Jess**(New York University) :__Age, Luck, and Inheritance__**Shenghao ZHU (New York University)**- Texte intégral [pdf]

**Lundi 17 mars 2008 17:30-19:00****GERSHKOV Alex**(Bonn University) :__Dynamic Revenue Maximization with Heterogenous Objects: A Mechanism Design Approach__**Benny MOLDOVANU (Department of Economics, University of Bonn)**- Texte intégral [pdf]

**Lundi 10 mars 2008 17:30-19:00****FUDENBERG Drew**(Harvard) :__Repeated Games with Frequent Signals__**LEVINE David K.**- Texte intégral [pdf]

**Lundi 18 février 2008 17:30-19:00****SANNIKOV Y.**(Univ. of California) :__A Learning Model of Dividend Smoothing__**Co-auteur : Peter DeMarzo**- Texte intégral [pdf]

**Lundi 11 février 2008 17:30-19:00****JULLIEN B.**(IDEI) :__The Market for Lawyers: the Value of Information on the Quality of Legal Services.__**Co-auteur : Elisabetta IOSSA (Economics and Finance Section, Brunel University)**- Texte intégral [pdf]

**Lundi 4 février 2008 17:30-19:00****BOSSAERT Peter**(Ecole Polytechnique Fédérale Lausanne (EPFL), ) :__The Neurobiological Foundations of Valuation in Human Decision Making under Uncertainty__**Ming HSU (Beckman Institute for Advanced Science and Technology, and Department of Economics, University of Illinois at Urbana-Champaign)**- Texte intégral [pdf]

**Lundi 28 janvier 2008 17:30-19:00****SALANIE François**(Toulouse School of Economics) :__Non-Exclusive Competition in the Market for Lemons__**Co-auteurs : Andrea ATTAR (Toulouse School of Economics (GREMAQ)), Thomas MARIOTTI (Toulouse School of Economics (GREMAQ/CNRS, IDEI))**- RésuméIn order to check the impact of the exclusivity regime on equilibrium allocations, we set up a simple Akerlof-like model in which buyers may use arbitrary tariffs. Under exclusivity, we obtain the (zero-profit, separating) Riley-Rothschilds-Stiglitz allocation. Under non-exclusivity, there is also a unique equilibrium allocation that involves a unique price, as in Akerlof (1970). These results can be applied to insurance (in the dual model in Yaari, 1987), and have consequences for empirical tests of the existence of asymmetric information.
- Texte intégral [pdf]

**Lundi 21 janvier 2008 17:30-19:00****VOHRA R.**(Northwestern University) :__Characterization of Revenue Equivalence__**Co-auteurs : Birgit Heydenreich, Rudolf MÄuller and Marc Uetz (Maastricht University)**- Texte intégral [pdf]

**Lundi 14 janvier 2008 17:30-19:00****SQUINTANI F.**(University of Essex) :__Mediation, Arbitration and Negotiation__**Co-auteurs : Maria Goltsman, Johannes Horner and Gregory Pavlov**- RésuméWe compare three common dispute resolution processes – negotiation, mediation, and arbitration – in the framework of Crawford and Sobel (1982). Under negotiation, the two parties engage in (possibly arbitrarily long) face-to-face cheap talk. Under mediation, the parties communicate with a neutral third party who makes a non-binding recommendation. Under arbitration, the two parties commit to conform to the third party recommendation. We characterize and compare the optimal mediation and arbitration procedures. Both mediators and arbitrators should optimally filter information, but mediators should also add noise to it. We find that unmediated negotiation performs as well as mediation if and only if the degree of conflict between the parties is low.
- Texte intégral [pdf]

**Lundi 7 janvier 2008 17:30-19:00****KUZMICS Christoph**(MEDS) :__Evolution, rationality and adaptation in a changing environment__**Olivier Gossner, PSE**

**Lundi 17 décembre 2007 17:30-19:00****MOORE J.**(LSE) :__Contracts as reference points__**Co-auteur: Oliver Hart**- Texte intégral [pdf]

**Lundi 10 décembre 2007 17:30-19:00****TRANNOY A.**(GREQAM) :__Equality of opportunity :Definitions and testable conditions, with an application to income in France__**Arnaud LEFRANC Nicolas PISTOLESI**- Texte intégral [pdf]

**Lundi 3 décembre 2007 17:30-19:00****BAGWELL K.**(Columbia univ.) :__Advertising and Collusion in Retail Markets__**Co-auteur : G. Lee**- Texte intégral [pdf]

**Lundi 26 novembre 2007 17:30-19:00****PRAT A.**(LSE) :__Spatial Asset Pricing: A First Step__**Co-auteur : Francois Ortalo-Magne (University of Madison-Wisconsin)**- Texte intégral [pdf]

**Lundi 19 novembre 2007 17:30-19:00****GOLOSOV M.**(MIT) :__Decentralized Trading with Private information__**Guido Lorenzoni and Aleh Tsyvinski**

**Lundi 12 novembre 2007 17:30-19:00****KIRCHSTEIGER G.**(Univ. libre de Bruxelles) :__The Role of Other-Regarding preferences in Competitive Markets__**Co-auteurs : Martin Dufwenberg, Paul Heidhues, Frank Riedel et Joel Sobel**- Texte intégral [pdf]

**Lundi 22 octobre 2007 17:30-19:00****ELY J.**(Northwestern univ.) :__Kludged__- Texte intégral [pdf]

**Lundi 15 octobre 2007 17:30-19:00****RUSTICHINI A.**(Cambridge univ.) :__Social Decision Theory__- Texte intégral [pdf]

**Lundi 8 octobre 2007 17:30-19:00****JEHIEL P.**(PSE) :__Manipulative Auction Design__- Texte intégral [pdf]

**Lundi 1er octobre 2007 17:30-19:00****PESENDORFER M.**(LSE) :__Equilibrium Bids in Sponsored Search Auctions: Theory and Evidence__**Co-auteurs : Tilman Borgers, Ingemar Cox and Vaclav Petricek**- Texte intégral [pdf]

**Lundi 25 juin 2007 17:30-19:00****CHE Y.K.**(Columbia univ.) :__Expanding choice in school choice__- Texte intégral [pdf]

**Lundi 4 juin 2007 17:30-19:00****GRANT S.**(Rice univ.) :__Generalized Utilitarianism and Harsanyi's Impartial Observer Theorem__**Co-auteur (s) : A. Kajii, B. Polak & Z. Safra**- RésuméWe provide an axiomatization of generalized utilitarian social welfare functions in the context of Harsanyi's impartial observer theorem. To do this, we reformulate Harsanyi's problem such that lotteries over identity (accidents of birth) and lotteries over outcomes (life chances) are independent. We show how to accommodate (first) Diamond's critique concerning fairness and (second) Pattanaik's critique concerning differing attitudes toward risk. In each case, we show what separates them from Harsanyi by showing what extra axioms return us to Harsanyi. Thus we provide two new axiomatizations of Harsanyi's utilitarianism.. Keywords: generalized utilitarianism, impartial observer, social welfare function, fairness, ex ante egalitarianism. JEL Classification: D63, D71
- Texte intégral [pdf]

**Lundi 21 mai 2007 17:30-19:00****HOPKINS E.**(Univ. of Edinburgh) :__Learning in Games with Unstable Equilibria__- Texte intégral [pdf]

**Lundi 14 mai 2007 17:30-19:00****RUBINSTEIN A.**(Tel Aviv univ.) :__On the Pragmatics of Persuasion__**Co-auteur (s) : J. Glazer**- RésuméA speaker wishes to persuade a listener to take a certain action. The conditions under which the request is justified, from the listener’s point of view, depend on the state of the world, which is known only to the speaker. Each state is characterized by a set of statements from which the speaker chooses. A persuasion rule specifies which statements the listener finds persuasive. We study persuasion rules that maximize the probability that the listener accepts the request if and only if it is justified, given that the speaker maximizes the probability that his request is accepted. We prove that there always exists a persuasion rule involving no randomization and that all optimal persuasion rules are ex-post optimal. We relate our analysis to the field of pragmatics. KEYWORDS. Persuasion, mechanism design, hard evidence, pragmatics. JEL CLASSIFICATION. C61, D82, D83.
- Texte intégral [pdf]

**Lundi 23 avril 2007 17:30-19:00****SANVER M. R.**(Istanbul Bilgi univ.) :__Sophisticated Preference Aggregation__

**Lundi 2 avril 2007 17:30-19:00****FLEURBAEY M.**(CNRS) :__Assessing risky social situations__

**Lundi 26 mars 2007 17:30-19:00****TIROLE J.**(Institut d'économie industrielle) :__Identity, Dignity and Taboos: Beliefs as Assets__**Co-auteur (s) : R. Bénabou**- RésuméWe analyze social and economic phenomena involving beliefs which people value and invest in, for affective or functional reasons. Individuals are at times uncertain about their own “deep values” and infer them from their past choices, which then come to define “who they are”. Identity investments increase when information is scarce or when a greater endowment of some asset (wealth, career, family, culture) raises the stakes on viewing it as valuable (escalating commitments). Taboos against transactions or the mere contemplation of tradeoffs arise to protect fragile beliefs about the “priceless” value of certain assets (life, freedom, love, faith) or things one “would never do”. Whether such behaviors are welfare-enhancing or reducing depends on whether beliefs are sought for a functional value (sense of direction, self-discipline) or for “mental consumption” motives (self-esteem, anticipatory feelings). Escalating commitments can thus lead to a “hedonic treadmill”, and competing identities cause dysfunctional failures to invest in high-return activities (education, adapting to globalization, assimilation), or even the destruction of productive assets. In social interactions, norm violations elicit a forceful response (exclusion, harassment) when they threaten a strongly held identity, but further erode morale when it was initially weak. Concerns for pride, dignity or wishful thinking lead to the inefficient breakdown of Coasian bargaining even under symmetric information, as partners seek to self-enhance and shift blame by turning down “insultingly low” offers. Keywords: identity, self-serving beliefs, self-image, memory, wishful thinking, anticipatory utility, self control, hedonic treadmill, bargaining, taboos, religion. JEL numbers: D81, D91, Z13.
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**Lundi 19 mars 2007 17:30-19:00****AUSTEN-SMITH D.**(Northwestern univ.) :__Notes on Bias Uncertainty and Communication in Committes__**Co-auteur (s) : T. Feddersen**- Texte intégral [pdf]

**Lundi 12 mars 2007 17:30-19:00****MOOKHERJEE D.**(Boston univ.) :__Mechanism Design with Costly Communication: Implications for Decentralization__**Co-auteur (s) : M. Tsumagari**- RésuméWe develop a theory of mechanism design in a principal-multiagent setting with private information, where communication involves costly delay. The need to make production decisions within a time deadline prevents agents from communicating their entire private information to the principal, rendering revelation mechanisms infeasible. The mechanism design problem is formulated in a setting where production decisions are preceded by a multi-stage communication phase where agents and the principal exchange information. We examine trade-offs between centralization and decentralization of three components of the mechanism: contracting, communication and production decisions. Decentralization of contracting cannot dominate centralized contracting, but in some contexts can achieve equivalent profits for the principal. If cost hazard rates are linear, decentralization of production decisions and of communication strictly dominate centralization. These results apply even if communication is prone to exogenous errors or noise. KEYWORDS: communication, mechanism design, decentralization, incentives, principal-agent, organizations
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**Lundi 5 mars 2007 17:30-19:00****CABRALES A.**(Univ. Pompeu Fabra) :__Market for Information: Of Inefficient Firewalls and Efficient Monopolies__**Co-auteur (s) : P. Gottardi**- RésuméIn this paper we build a formal model for environments where information is costly and where it can be used by potential competitors. The model allows to understand how such a market is organized, and whether it is efficient (ex-post and ex-ante). There is an object for sale, whose type is unknown. The buyers get utility from only one variety of the object. The type of the potential buyers are chosen independently of one another, and of the object for sale. The buyers can find out the type of the object for sale by paying a cost. Each buyer has to choose first whether or not to explore the object and then, if he has chosen to explore the object, whether to sell a report on his information to the uninformed buyers, and at which price. After the information is sold and signals revealed, all the buyers participate in a second price auction for the object. We characterize the equilibria and welfare properties for a variety of setups. Information sold may be homogeneous or heterogeneous among buyers, and the seller of information may be a potential competitor, the owner of the good, or a disinterested third party. The results show that disinterested third parties (firewalls) may lead to inefficiencies and monopolies may achieve the efficient outcome.
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**Lundi 12 février 2007 17:30-19:00****AGHION P.**(Harvard univ.) :__Volatilite, croissance, et role des politiques macroeconomiques__**Co-auteur (s) : G. M. Angeletos, A. Banerjee & K. Manova**- RésuméWe examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and a long-term productivity-enhancing one. Because it takes longer to complete, long-term investment has a relatively less procyclical return but also a higher liquidity risk. Under complete financial markets, long-term investment is countercyclical, thus mitigating volatility. But when firms face tight credit constraints, long-term investment turns procyclical, thus amplifying volatility. Tighter credit therefore leads to both higher aggregate volatility and lower mean growth for a given total investment rate. We next confront the model with a panel of countries over the period 1960-2000 and find that a lower degree of financial development predicts a higher sensitivity of both the composition of investment and mean growth to exogenous shocks, as well as a stronger negative effect of volatility on growth. JEL codes: E22, E32, O16, O30, O41, O57. Keywords: Growth, fluctuations, business cycle, credit constraints, amplification, R&D.
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**Lundi 5 février 2007 17:30-19:00****MUKERJI S.**(Univ. of Oxford) :__Ordering Ambiguous Acts__**Co-auteur : Ian Jewitt**

**Lundi 29 janvier 2007 17:30-19:00****LEGROS P.**(Univ. libre de Bruxelles) :__Competing for Ownership__**Co-auteur (s) : A. F. Newman**- RésuméWe develop a tractable model of the allocation of control in firms in competitive markets, which permits us to study how changes in the scarcity of assets, skills or liquidity in the market translate into control inside the organization. Firms will be more integrated when the terms of trade are more favorable to the short side of the market, when liquidity is unequally distributed among existing firms and following a uniform increase in productivity. The model identifies a price-like mechanism whereby local liquidity or productivity shocks propagate and lead to widespread organizational restructuring.
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**Lundi 22 janvier 2007 17:30-19:00****BATTIGALLI P.**(Bocconi univ.) :__Dynamic Psychological Games__**Co-auteur (s) : M. Dufwenberg**- RésuméThe motivation of decision makers who care for emotions, reciprocity, or social conformity may depend directly on beliefs (about choices, beliefs, or information). Geanakoplos, Pearce & Stacchetti (Games and Economic Behavior, 1989) point out that traditional game theory is ill-equipped to address such matters, and they pioneer a new framework which does. However, their toolbox — psychological game theory — incorporates several restrictions that rule out plausible forms of belief-dependent motivation. Building on recent work on dynamic interactive epistemology, we propose a more general framework. Updated higher-order beliefs, beliefs of others, and plans of action may influence motivation, and we can capture dynamic psychological effects (such as sequential reciprocity, psychological forward induction, regret, and anxiety) that were previously ruled out. We develop solution concepts, provide examples, and explore properties. KEYWORDS: psychological games, belief-dependent motivation, extensiveform solution concepts, dynamic interactive epistemology. J.E.L. CLASSIFICATION NUMBERS: C72, C73.
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**Lundi 15 janvier 2007 17:30-19:00****TYRAN J. R.**(Univ. of Copenhagen) :__Democracy and the Disincentive Effect of Redistribution__

**Lundi 8 janvier 2007 17:30-19:00****EICHBERGER J.**(Univ. of Heidelberg) :__Optimism and Pessimism in Games__**Co-auteur (s) : D. Kelsey**- RésuméThis paper considers the impact of ambiguity in strategic situations. It extends the earlier literature by allowing for optimistic responses to ambiguity. Ambiguity is modelled by CEU preferences. We study comparative statics of changes in ambiguity-attitude in games with strategic complements or substitutes. This gives a precise statement of the impact of ambiguity on economic behaviour. Keywords Ambiguity in games, support, strategic complementarity, optimism. JEL Classi…cation C72, D81.
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**Lundi 18 décembre 2006 17:30-19:00****YILDIZ M.**(MIT) :__Learning and Disagreement in a Uncertain World__**Co-auteur (s) : D. Acemoglu & V. Chernozhukov**- RésuméMost economic analyses presume that there are limited differences in the prior beliefs of individuals, an assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite sequence of signals about some underlying parameter. Existing results in the literature establish that when individuals are certain about the interpretation of signals, under very mild conditions there will be asymptotic agreement–their assessments will eventually agree. In contrast, we look at an environment in which individuals are uncertain about the interpretation of signals, meaning that they have non-degenerate probability distributions over the conditional distribution of signals given the underlying parameter. When priors on the parameter and the conditional distribution of signals have full support, we prove the following results: (1) Individuals will never agree, even after observing the same infinite sequence of signals. (2) Before observing the signals, they believe with probability 1 that their posteriors about the underlying parameter will fail to converge. (3) Observing the same sequence of signals may lead to a divergence of opinion rather than the typically-presumed convergence. We then characterize the conditions for asymptotic agreement under “approximate certainty”–i.e., as we look at the limit where uncertainty about the interpretation of the signals disappears. When the family of probability distributions of signals given the parameter has “rapidly-varying tails” (such as the normal or the exponential distributions), approximate certainty restores asymptotic agreement. However, when the family of probability distributions has “regularly-varying tails” (such as the Pareto, the log-normal, and the t-distributions), asymptotic agreement does not obtain even in the limit as the amount of uncertainty disappears. Lack of common priors has important implications for economic behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper interacts with economic behavior in various different situations, including games of common interest, coordination, asset trading and bargaining. Keywords: asymptotic disagreement, Bayesian learning, merging of opinions. JEL Classification: C11, C72, D83.
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**Lundi 11 décembre 2006 17:30-19:00****SOBEL J.**(Univ. of California) :__Information Aggregation and Group Decisions__- RésuméIndividuals with identical preferences each receive a signal about the unknown state of the world and separately decide upon a utility maximizing recommendation on the basis of that signal. The group’s decision maximizes the common utility function based on perfect pooling of individual information. With no restrictions on the information structure, the individual recommendations place no constraints on the group’s decision. In a monotone environment in which individuals receive conditionally independent signals, the paper presents conditions under which polarization does and does not arise. Journal of Economic Literature Classification Numbers: A12, D01; Keywords: statistical decision problem; group polarization; behavioral economics; psychology.
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**Lundi 4 décembre 2006 17:30-19:00****ELLINGSEN T.**(Stockholm School of Economics) :__Pride and Prejudice: The Human Side of Incentive Theory__**Co-auteur (s) : M. Johannesson**- RésuméMany people are sensitive to social esteem, and their pride is a source of pro–social behavior. We present a game-theoretic model in which sensitivity to esteem varies across players and may depend on context as well players’ beliefs about their opponents. For example, the pride associated with a generous image is greater when the player holding the image is in fact generous and believes the observers to be generous as well. The model can account both for the fact that players’ behavior sometimes depends on the opponents’ unchosen options and for the prevalence of small symbolic gifts. Perhaps most importantly, the model offers an explanation for motivational crowding out: Control systems and pecuniary incentives may erode morale by signaling to the agent that the principal is not worth impressing. JEL classification: D01, D23, D82, Z13 Keywords: Motivational crowding out, Esteem, Incentives, Framing, Social preferences.
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**Lundi 27 novembre 2006 17:30-19:00****KOLM S. C.**(EHESS) :__Macrojustice: distribution, impôts et transferts optimaux.__- RésuméDistribution, impôts et transferts optimaux par Serge-Christophe Kolm Le système d'impôts et de transferts distributifs actuel engendre des gaspillages économiques considérables et est contradictoire. Pour l'optimiser, l'opinion générale demande d'évaluer la distribution globale (macrojustice) non pas selon des critères de bien-être, mais d'après des principes de liberté, d'égalité, et d'efficacité sociale. Il en résulte un système d'impôts et de transferts très simple, riche de sens moraux variés et importants, et facilement réalisable par des réformes simples et classiques. Mots clefs: distribution, justice, impôts, transferts, liberté, capacités. Classification JEL : D31, D60, D63, H21.
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**Lundi 20 novembre 2006 17:30-19:00****THESMAR D.**(HEC) :__The Virtues of Dissent in Organizations__**Co-auteur (s) : A. Landier & D. Sraer**- Texte intégral [pdf]

**Lundi 13 novembre 2006 17:30-19:00****MARTIMORT D.**(Institut d'économie industrielle) :__Mechanism Design with Private Communication__**Co-auteur (s) : V. Dequiedt**- RésuméThis paper assumes that communication between the principal and each of his agents is private. First, this assumption simplifies significantly mechanisms and institutions. Second, it restores continuity with respect to the information structure but still maintains the useful role of correlation to better extract the agents’ information rent. We first prove a Revelation Principle with private communication that characterizes the set of implementable allocations which cannot be manipulated by the principal by means of simple non-manipulability constraints. Equipped with this tool, we investigate optimal non-manipulable mechanisms in various environments (unrelated projects, auctions, team productions). We also demonstrate a Taxation Principle with private communication and draw some links between our framework and the common agency literature. Keywords: Mechanism Design, Private Communication. JEL Classification : D82.
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**Lundi 6 novembre 2006 17:30-19:00****SPIEGLER R.**(Tel Aviv univ.) :__A mechanism design approach to speculative trade__**Co-auteur (s) : K. Eliaz**- Texte intégral [pdf]

**Lundi 23 octobre 2006 17:30-19:00****AL-NAJJAR N. I.**(Northwestern univ.) :__Diversity and Ambiguity in a Learning Model of Belief Formation__

**Lundi 16 octobre 2006 17:30-19:00****LASLIER J.F.**(Ecole polytechnique) :__Strategic approval voting in a large electorate__- Texte intégral [pdf]

**Lundi 9 octobre 2006 17:30-19:00****WOLINSKI A.**(Northwestern univ.) :__Search with Asymmetric Information__**Co-auteur (s) : R. D. Horan, E. H. Bulte et J. F. Shogren**- Texte intégral [pdf]

**Lundi 2 octobre 2006 17:30-19:00****SHOGREN J. F.**(Univ. of Wyoming) :__Coevolution of Human Speech and Trade__**Co-auteur (s) : R. D. Horan & E. H. Bulte**- Texte intégral [pdf]

**Lundi 25 septembre 2006 17:30-19:00****SCHMIDT K. M.**(Univ. of Munich) :__Fairness and Contract Design__**Co-auteur (s) : Ernst Fehr et Alexander Klein**- Texte intégral [pdf]

**Lundi 18 septembre 2006 17:30-19:00****KAJII A.**(Kyoto univ.) :__A Refinement of the Myerson Value__**Co-auteur (s) : H. Kojima et T. Ui**- Texte intégral [pdf]

**Lundi 5 juin 2006****CALVO-ARMENGOL A.**(Univ. autonoma de Barcelona) :__Interaction patterns with hidden complementarities__**Co-auteur(s) : C. Ballester**- Texte intégral [pdf]

**Lundi 29 mai 2006****VAYANOS D.**(LSE) :__A Search-Based Theory of the On-the-Run Phenomenon__**Co-auteur(s) : P.-O. Weill**- Texte intégral [pdf]

**Lundi 22 mai 2006****SALANIE B.**(Columbia univ.) :__Identifying Heterogeneity in Attitudes Towards Risk__**Co-auteur(s) : P.-A. Chiappori, A. Gandhi & F. Salanié**- Texte intégral [pdf]

**Lundi 15 mai 2006****La séance a été annulée.****DEKEL E.**(Northwestern univ.) :__*__

**Lundi 24 avril 2006****GAJDDOS T.**(Univ. de Paris 1) :__The Ignorant Observer__**Co-auteur(s) : F. Kandil**- Texte intégral [pdf]

**Lundi 3 avril 2006****LEVY G.**(LSE) :__On the limits of communication in multidimensional cheap talk__**Co-auteur(s) : R. Razin**- Texte intégral [pdf]

**Lundi 27 mars 2006****BENNARDO A.**(Schola medica Salernitana) :__Competition markets with endogeneoes health risks__**Co-auteur(s) : S. Piccolo**- Texte intégral [pdf]

**Lundi 20 mars 2006****LANGLOIS C.**(Georgetown univ.) :__Costly economic sanctions as bargaining tactics : A Game Theoretic and Empirical Analysis__**Co-auteur(s) : J. P. P. Langlois**- Texte intégral [pdf]

**Lundi 13 mars 2006****KUBLER F.**(Univ. Mannheim) :__Social Security and Risk Sharing__**Co-auteur(s) : P. Gottardi**- Texte intégral [pdf]

**Lundi 6 mars 2006****CANTILLON E.**(Univ. libre de Bruxelles) :__Optimal Procurement when both Price and Quality Matter__**Co-auteur(s) : J. Asker**- Texte intégral [pdf]

**Lundi 27 février 2006****GUESNERIE R.**(Collège de France) :__The design of post-Kyoto climate schemes : an introductory analytical assessment__- Texte intégral [pdf]

**Lundi 20 février 2006****YOUNG P.**(John Hopkins univ.) :__The Spread of Innovations Through Social Learning__- Texte intégral [pdf]

**Lundi 30 janvier 2006****GOYAL S.**(Univ. of Essex) :__Network games__**Co-auteur(s) : A. Galeotti & M. O. Jackson**- Texte intégral [pdf]

**Lundi 23 janvier 2006****MOLDOVANU B.**(Univ. of Bonn) :__The theory of assortie matchings based on costly signals__**Co-auteur(s) : H. Hoppe & A. Sela**- Texte intégral [pdf]

**Lundi 16 janvier 2006****GERMANO F.**(Univ. Pompeu Fabra) :__What do the Papers Sell ?__**Co-auteur(s) : M. Ellman**- Texte intégral [pdf]

**Lundi 9 janvier 2006****MASKIN E.**(Princeton univ.) :__Sequential Innovation, Patents, and Imitation__

**Lundi 12 décembre 2005****SCHLAG K.**(European university institute) :__Robust monopoly pricing: the case of regret__**Co-auteur(s) : D. Bergemann**- Texte intégral [pdf]

**Lundi 5 décembre 2005****GOLLIER C.**(Univ. de Toulouse) :__The consumption-based determinants of the term structure of discount rates__- Texte intégral [pdf]

**Lundi 28 novembre 2005****FAURE-GRIMAUD A.**(LSE) :__Thinking ahead : the decision problem__**Co-auteur(s) : P. Bolton**- Texte intégral [pdf]

**Lundi 21 novembre 2005****ROCHON C.**(Univ. of Oxford) :__Devaluation without common knowledge__- Texte intégral [pdf]

**Lundi 14 novembre 2005****ARAGONES E.**(Instituto de análisis económico) :__A model of participatory democracy: understanding the case of Porto Alegre__**Co-auteur(s) : S. Sánchez-Pagés**- Texte intégral [pdf]

**Lundi 7 novembre 2005****MEIER M.**(Instituto de análisis económico) :__Interactive unawareness__**Co-auteur(s) : A. Heifetz & B. C. Schipper**- Texte intégral [pdf]

**Lundi 17 octobre 2005****RENAULT R.**(Univ. de Cergy-Pontoise) :__Comparative advertising__**Co-auteur(s) : S.P. Anderson**- Texte intégral [pdf]

**Lundi 10 octobre 2005****SORENSEN P. N.**(Univ. of Copenhagen) :__Noise, Information and the Favorite-Longshot Bias__**Co-auteur(s) : M. Ottaviani**- Texte intégral [pdf]

**Lundi 3 octobre 2005****VULKAN N.**(Oxford univ.) :__Markets Versus Negociations : the Predominance of Centralized Markets__**Co-auteur(s) : Z. Neeman**- Texte intégral [pdf]

**Lundi 26 septembre 2005****DAVILA J.**(CNRS) :__Competitive Bargaining Equilibrium__**Co-auteur(s) : J. Eeckhout**- Texte intégral [pdf]

**Lundi 19 septembre 2005****HART S.**(Hebrew university of Jerusalem) :__Adaptive heuristics__

**Lundi 20 juin 2005****La séance a été annulée.****RUBINSTEIN A.**(Tel Aviv univ.) :__Equilibrium in the Jungle__

**Lundi 20 juin 2005****La séance a été annulée.****RUBINSTEIN A.**(Tel Aviv univ.) :__Equilibrium in the Jungle__

**Lundi 13 juin 2005****ROEMER J.**(Yale univ.) :__Impartality, solidarity, and priority in the Theory of Justice__- Texte intégral [pdf]

**Lundi 13 juin 2005****ROEMER J.**(Yale univ.) :__Impartality, solidarity, and priority in the Theory of Justice__- Texte intégral [pdf]

**Lundi 6 juin 2005****QUINZII M.**(Univ. of California) :__An Equilibrium Model of Executive Compensation__**Co-auteur(s) : M. Magill**- Texte intégral [pdf]

**Lundi 6 juin 2005****QUINZII M.**(Univ. of California) :__An Equilibrium Model of Executive Compensation__**Co-auteur(s) : M. Magill**- Texte intégral [pdf]

**Lundi 30 mai 2005****CHAMLEY C.**(PSE) :__Complementarities in Information Acquisition with Short-Term Trading__- Texte intégral [pdf]

**Lundi 30 mai 2005****CHAMLEY C.**(PSE) :__Complementarities in Information Acquisition with Short-Term Trading__- Texte intégral [pdf]

**Lundi 23 mai 2005****KARNI E.**(John Hopkins univ.) :__Subjective expected utility without states of the world__- Texte intégral [pdf]

**Lundi 23 mai 2005****KARNI E.**(John Hopkins univ.) :__Subjective expected utility without states of the world__- Texte intégral [pdf]

**Lundi 16 mai 2005****LIPMAN B.L.**:__Temptation-Driven Preferences__**Co-auteur(s) :E. Dekel et A. Rustichini**- Texte intégral [pdf]

**Lundi 16 mai 2005****LIPMAN B.L.**:__Temptation-Driven Preferences__**Co-auteur(s) :E. Dekel et A. Rustichini**- Texte intégral [pdf]

**Lundi 9 mai 2005****THOMSON W.**:__Children crying at birthday parties : why ? Fairness and incentives for cake division problems__- Texte intégral [pdf]

**Lundi 9 mai 2005****THOMSON W.**:__Children crying at birthday parties : why ? Fairness and incentives for cake division problems__- Texte intégral [pdf]

**Lundi 18 avril 2005****WEIBULL J. W.**(Stockholm school of economics) :__Dynamic Bertrand Competition with Intertemporal Demand__**Co-auteur(s) : P. Dutta et A. Matros**- Texte intégral [pdf]

**Lundi 18 avril 2005****WEIBULL J. W.**(Stockholm school of economics) :__Dynamic Bertrand Competition with Intertemporal Demand__**Co-auteur(s) : P. Dutta et A. Matros**- Texte intégral [pdf]

**Lundi 11 avril 2005****MANIQUET F.**(Univ. of Namur) :__Endogenous affirmative action : gender bias leads to gender quotas__**Co-auteur(s) : M. Morelli et G. Frechette**- Texte intégral [pdf]

**Lundi 11 avril 2005****MANIQUET F.**(Univ. of Namur) :__Endogenous affirmative action : gender bias leads to gender quotas__**Co-auteur(s) : M. Morelli et G. Frechette**- Texte intégral [pdf]

**Lundi 4 avril 2005****MOULIN H.**(Rice univ.) :__Minimizing the worst slowdown: off-line and on-line__- Texte intégral [pdf]

**Lundi 4 avril 2005****MOULIN H.**(Rice univ.) :__Minimizing the worst slowdown: off-line and on-line__- Texte intégral [pdf]

**Lundi 21 mars 2005****COURTY P.**(European university institute) :__Price variation aversion__**Co-auteur(s) : M. Pagliero**- Texte intégral [pdf]

**Lundi 21 mars 2005****COURTY P.**(European university institute) :__Price variation aversion__**Co-auteur(s) : M. Pagliero**- Texte intégral [pdf]

**Lundi 14 mars 2005****PESENDORFER W.**(Princeton univ.) :__The Canonical Type Space for Interdependent Preferences__**Co-auteur(s) : F. Gul**- Texte intégral [pdf]

**Lundi 14 mars 2005****PESENDORFER W.**(Princeton univ.) :__The Canonical Type Space for Interdependent Preferences__**Co-auteur(s) : F. Gul**- Texte intégral [pdf]

**Lundi 7 mars 2005****PERESS J.**(INSEAD) :__The Stock Market and the Allocation of Capital in a Production Economy__- Texte intégral [pdf]

**Lundi 7 mars 2005****PERESS J.**(INSEAD) :__The Stock Market and the Allocation of Capital in a Production Economy__- Texte intégral [pdf]

**Lundi 7 février 2005****DUTTA B.**:__Endogenous Communication Networks__**Co-auteur(s) : F. Bloch et S. Mutuswami**- Texte intégral [pdf]

**Lundi 7 février 2005****DUTTA B.**:__Endogenous Communication Networks__**Co-auteur(s) : F. Bloch et S. Mutuswami**- Texte intégral [pdf]

**Lundi 31 janvier 2005****INDERST R.**(INSEAD) :__Optimal Contract Design when Decision and Incentive Problems Interact__- Texte intégral [pdf]

**Lundi 31 janvier 2005****INDERST R.**(INSEAD) :__Optimal Contract Design when Decision and Incentive Problems Interact__- Texte intégral [pdf]

**Lundi 24 janvier 2005****LARUELLE A.**(Univ. d'Alicante) :__Bargaining in committees of representatives : the optimal voting rule__**Co-auteur(s) : F. Valenciano**- Texte intégral [pdf]

**Lundi 24 janvier 2005****LARUELLE A.**(Univ. d'Alicante) :__Bargaining in committees of representatives : the optimal voting rule__**Co-auteur(s) : F. Valenciano**- Texte intégral [pdf]

**Lundi 17 janvier 2005****SENIK C.**(PSE) :__Ambition and Jealousy. Income interactions in the Old Europe versus the New Europe and the United States__- Texte intégral [pdf]

**Lundi 17 janvier 2005****SENIK C.**(PSE) :__Ambition and Jealousy. Income interactions in the Old Europe versus the New Europe and the United States__- Texte intégral [pdf]

**Lundi 13 décembre 2004****HEAD K.**(Univ. of British Columbia) :__Regional Wage and Employment responses to Market Potential in the UE__- Texte intégral [pdf]

**Lundi 13 décembre 2004****HEAD K.**(Univ. of British Columbia) :__Regional Wage and Employment responses to Market Potential in the UE__- Texte intégral [pdf]

**Lundi 6 décembre 2004****ESTEBAN J.**(Univ. Pompeu Fabra) :__Inequality, Lobbying and Ressource Allocation__- Texte intégral [pdf]

**Lundi 6 décembre 2004****ESTEBAN J.**(Univ. Pompeu Fabra) :__Inequality, Lobbying and Ressource Allocation__- Texte intégral [pdf]

**Lundi 29 novembre 2004****GARY-BOBO R.**(Univ. de Paris 1) :__Efficient tuition fees, examinations, and subsidies__- Texte intégral [pdf]

**Lundi 29 novembre 2004****GARY-BOBO R.**(Univ. de Paris 1) :__Efficient tuition fees, examinations, and subsidies__- Texte intégral [pdf]

**Lundi 22 novembre 2004****PIKETTY T.**(PSE) :__Should We Reduce Class Size or School Segregation? Theory and Evidence from France__- Texte intégral [pdf]

**Lundi 22 novembre 2004****PIKETTY T.**(PSE) :__Should We Reduce Class Size or School Segregation? Theory and Evidence from France__- Texte intégral [pdf]

**Lundi 15 novembre 2004****NAGEL R.**(Univ. Pompeu Fabra) :__Asymmetric toeholds in an English auction experiment__

**Lundi 15 novembre 2004****NAGEL R.**(Univ. Pompeu Fabra) :__Asymmetric toeholds in an English auction experiment__

**Lundi 8 novembre 2004****GEANAKOPLOS J.**(Yale univ.) :__Liquidity and Crashes: General Equilibrium with Collateral__

**Lundi 8 novembre 2004****GEANAKOPLOS J.**(Yale univ.) :__Liquidity and Crashes: General Equilibrium with Collateral__

**Lundi 25 octobre 2004****KIRMAN A.**(GREQAM) :__Equilibria in financial markets with heterogeneous agents : a new perspective__- Texte intégral [pdf]

**Lundi 25 octobre 2004****KIRMAN A.**(GREQAM) :__Equilibria in financial markets with heterogeneous agents : a new perspective__- Texte intégral [pdf]

**Lundi 18 octobre 2004****MARIOTTI T**(Univ. de Toulouse) :__Auction and the informed seller problem__- Texte intégral [pdf]

**Lundi 18 octobre 2004****MARIOTTI T**(Univ. de Toulouse) :__Auction and the informed seller problem__- Texte intégral [pdf]

**Lundi 11 octobre 2004****SCHRAM A.**(Univ. of Amsterdam) :__Neighborhood information exchange and voter participation : an experimental study__**Co-auteur(s) : J. Grober**- Texte intégral [pdf]

**Lundi 11 octobre 2004****SCHRAM A.**(Univ. of Amsterdam) :__Neighborhood information exchange and voter participation : an experimental study__**Co-auteur(s) : J. Grober**- Texte intégral [pdf]

**Lundi 4 octobre 2004****GOSSNER O.**(CERAS) :__The value of Information__- Texte intégral [pdf]

**Lundi 4 octobre 2004****GOSSNER O.**(CERAS) :__The value of Information__- Texte intégral [pdf]

**Lundi 27 septembre 2004****TALLON J.M.**(Univ. de Paris 1) :__Coping with Imprecise Information : a Decision Theoretic Approach__**Co-auteur(s) : T. Gajdos & J.C. Vergnaud**- Texte intégral [pdf]

**Lundi 27 septembre 2004****TALLON J.M.**(Univ. de Paris 1) :__Coping with Imprecise Information : a Decision Theoretic Approach__**Co-auteur(s) : T. Gajdos & J.C. Vergnaud**- Texte intégral [pdf]

**Lundi 20 septembre 2004****AUSUBEL L.**(Univ. of Maryland) :__De-Frictionalizing the walrasian Auctioneer__- Texte intégral [pdf]

**Lundi 20 septembre 2004****AUSUBEL L.**(Univ. of Maryland) :__De-Frictionalizing the walrasian Auctioneer__- Texte intégral [pdf]

**Lundi 7 juin 2004****YARIV L.**(Univ. of California) :__Collective Choice with Communication__**Co-auteur(s) : D. Gerardi**

**Lundi 7 juin 2004****YARIV L.**(Univ. of California) :__Collective Choice with Communication__**Co-auteur(s) : D. Gerardi**

**Lundi 24 mai 2004****MORRIS S.**(Yale univ.) :__Robust Implementation__**Co-auteur(s) : D. Bergemann**

**Lundi 24 mai 2004****MORRIS S.**(Yale univ.) :__Robust Implementation__**Co-auteur(s) : D. Bergemann**

**Lundi 10 mai 2004****ROCHET J.C.**(GREMAQ) :__A Theory of the Balance Sheet__

**Lundi 10 mai 2004****ROCHET J.C.**(GREMAQ) :__A Theory of the Balance Sheet__

**Lundi 3 mai 2004****EDLIN A.**(Berkeley univ.) :__The Accident Externality from Driving__**Co-auteur(s) : P. Karaca-Mandic**

**Lundi 3 mai 2004****EDLIN A.**(Berkeley univ.) :__The Accident Externality from Driving__**Co-auteur(s) : P. Karaca-Mandic**

**Lundi 5 avril 2004****JEHIEL P.**(CERAS) :__Valuation equilibria__**Co-auteur(s) : D. Samet**

**Lundi 5 avril 2004****JEHIEL P.**(CERAS) :__Valuation equilibria__**Co-auteur(s) : D. Samet**

**Lundi 29 mars 2004****NYARKO Y.**(New York univ.) :__The Market for Advice : An experimental Investigation__

**Lundi 29 mars 2004****NYARKO Y.**(New York univ.) :__The Market for Advice : An experimental Investigation__

**Lundi 22 mars 2004****GHATAK M.**(LSE) :__Credit Rationing, Wealth Inequality, and Allocation of Talent__**Co-auteur(s) : M. Morelli et T. Sjostrom**

**Lundi 22 mars 2004****GHATAK M.**(LSE) :__Credit Rationing, Wealth Inequality, and Allocation of Talent__**Co-auteur(s) : M. Morelli et T. Sjostrom**

**Lundi 15 mars 2004****GOTTARDI P.**(Univ. di Venezia) :__Market Power and Information Revelation in Dynamic Trading__**Co-auteur(s) : R. Serrano**

**Lundi 15 mars 2004****GOTTARDI P.**(Univ. di Venezia) :__Market Power and Information Revelation in Dynamic Trading__**Co-auteur(s) : R. Serrano**

**Lundi 8 mars 2004****PRAT A.**(LSE) :__A model of trading on financial markets in which agents have career concerns__**Co-auteur(s) : A. Dasgupta**

**Lundi 8 mars 2004****PRAT A.**(LSE) :__A model of trading on financial markets in which agents have career concerns__**Co-auteur(s) : A. Dasgupta**

**Lundi 1er mars 2004****REPULLO R.**(CEMFI) :__Loan Pricing under Basel Capital Requirements__**Co-auteur(s) : J. Suarez**

**Lundi 1er mars 2004****REPULLO R.**(CEMFI) :__Loan Pricing under Basel Capital Requirements__**Co-auteur(s) : J. Suarez**

**0000****PENTA Antonio**(UW-Madison) :__*__