Calendrier du 06 mars 2023
Roy Seminar (ADRES)
Du 06/03/2023 de 17:00 à 18:15
Salle R1-09, Campus Jourdan, 75014 Paris
BROOKS Benjamin (Department of Economics, University of Chicago)
*On the Structure of Informationally Robust Optimal Mechanisms
We study the design of optimal mechanisms when the designer is uncertain about the information held by the agents and about which equilibrium will be played. The guarantee of a mechanism is the minimum of the designer's welfare across all information structures and equilibria. The potential of an information structure is the maximum welfare across all mechanisms and equilibria. We formulate a pair of linear programs that upper bound the maximum guarantee across all mechanisms and lower bound the minimum potential across all information structures. In applications to public goods, bilateral trade, and optimal auctions, we use the bounding programs to characterize guarantee-maximizing mechanisms and potential-minimizing information structures and show that the max guarantee is equal to the min potential.
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 06/03/2023 de 13:00 à 14:00
Maison des Sciences Economiques, Salle 116
MORENO Heddie (PSE)
TBA
Texte intégral
Régulation et Environnement
Du 06/03/2023 de 12:00 à 13:15
Salle R1-09, Campus Jourdan, 75014 Paris
BRAUN Thomas (Columbia)
*Cooling Externality of Large-Scale Irrigation
Using a triple-difference estimator based on a 59-year-long panel of weather records paired with irrigation data around the Ogallala aquifer, we provide novel evidence that large-scale irrigation heterogeneously shifts the temperature distribution towards cooler temperatures during months of the growing season.
Cooling-by-irrigation propagates downwind and reduces the upper tail of the temperature distribution by up to 3°C in August, which has positive externalities on downwind crop yields ($120 million/y) and temperature-induced excess mortality ($240 million/y) that are of equal magnitude as the direct benefits of irrigation by enhancing heat tolerance of crops ($440 million/y). The observed cooling helps explain why the US has seen less warming, especially in very hot temperatures, than what climate models project. Our findings also highlight that weather shocks in highly irrigated areas are not exogenous but are influenced by human responses in the form of irrigation.