Calendrier du 09 mai 2022
Roy Seminar (ADRES)
Du 09/05/2022 de 17:00 à 18:15
Salle R2.01 - Campus Jourdan 75014 Paris
FRIEDMAN Evan (PSE)
Quantal Response Equilibrium with Symmetry: Representation and Applications
écrit avec Felix Mauersberger
We study an axiomatic variant of quantal response equilibrium (QRE) for normal form games that augments the regularity axioms (Goeree et al., 2005) with various forms of “symmetry” across players and actions. The model refines regular QRE, implies bounds on logit QRE, and is tractable in many applications. The main result is a representation theorem that characterizes the model’s set-valued predictions by taking unions and intersections of simple sets. We completely characterize the predictions for (almost) all 2 ? 2 games, a corollary of which is to show, in coordination games, which Nash equilibrium is selected by the principal branch of the logit correspondence. As applications, we consider three classic games: public goods provision with heterogenous costs of participation, jury voting with unanimity, and the infinitely repeated prisoner’s dilemma. For each, we characterize all equilibria within a particular large class. An analysis of existing experimental data shows the potential, and limitations, of the model.
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 09/05/2022 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle Banquier S03) 75013 Paris
BOIS Clémence (PES)
Trade, Reputation, and the Diesel Gate
écrit avec Pamina Koenig (PSE, Université de Rouen)
In September 2015 the US Environmental Protection Agency issued a notice which opened a scandal now know as the Dieselgate: the note shows that the German automaker Volkswagen cheated on the Clean Air Act by intentionally programming its diesel engine vehicles to reduce their emissions controls only during laboratory testing.
In this paper, we hypothesize that these revelations may have had an impact on consumers' perceptions of the quality of the German car firm, and potentially also of a broader group of goods associated with the country's manufacturing quality attributes. We use product-level bilateral trade data to estimate whether German exports of Diesel passenger cars were modified after September 2015. We rely on a difference-in-difference approach and compare the exports of Diesel engine vehicles to those of goods that were not affected by the scandal. We further analyze whether the effects vary according to the level of consumers information about the scandal in each country, proxied by their google searches relative to the event.
Texte intégral
Du 09/05/2022 de 12:00 à 13:15
Régulation et Environnement
Du 09/05/2022 de 12:00 à 13:15
Salle R2.21, Campus Jourdan 75014 Paris
CAMPIGLIO Emanuele (Universita' di Bologna)
Optimal transition to a low-carbon economy
The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean capital, economic and climatic shocks, and clean technological progress. Using a dynamic stochastic general equilibrium model with emissions abatement costs calibrated on a large energy modelling database and solved with recursive methods, we estimate a net premium of 17% on the optimal carbon price today relative to a ‘straw man’ model with perfect capital mobility, fixed abatement costs and no uncertainty. The optimal path involves rapid emissions reductions and a best estimate of US$2.6 trillion of cumulative disinvestment in dirty capital – ‘stranded assets’. Another reason to price carbon at a high level today is to avoid climate damages in the short to medium run. These are ignored if the planning problem is construed as one of meeting a temperature constraint at minimum discounted abatement cost, which typifies contemporary climate policy discussions.