Calendrier du 18 mai 2017
Macroeconomics Seminar
Du 18/05/2017 de 15:45 à 17:00
Salle R2-21, Campus Jourdan, 48 boulevard Jourdan 75014 Paris
GALO Nuno ()
“Optimal Monetary Policy with Heterogeneous Agents.”
Texte intégral
Travail et économie publique externe
Du 18/05/2017 de 13:00 à 14:15
Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
DURANTON Gilles (Wharton)
Measuring the cost of congestion in a highly congested city: Bogotá
écrit avec Prottoy A. Akbar
We provide a novel approach to estimate the deadweight loss of congestion. We implement it for road travel in the city of Bogotá using information from a travel survey and counterfactual travel data generated from Google Maps. For the supply of travel, we find that the elasticity of the time cost of travel per unit of distance with respect to the number of travellers is on average about 0.06 for our area of study. It is close to zero at low levels of traffic, then reaches a maximum magnitude of about 0.20 as traffic builds up and becomes small again at high levels of traffic. This finding is in sharp contrast with extant results for specific road segments. We explain it by the existence of local streets which remain relatively uncongested and put a floor on the time cost of travel. On the demand side, we estimate an elasticity of the number of travellers with respect to the time cost of travel of 0.40. Although road travel is costly in Bogotá, these findings imply a small daily deadweight loss from congestion, equal to less than 1% of a day’s wage.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 18/05/2017 de 13:00 à 14:00
salle R1-11, campus Jourdan, 48 boulevard Jourdan, Paris 14e
PEJSACHOWICZ Leonardo (Paris 1)
Breadth versus Depth.
Abstract.
We consider a fundamental trade-off in search: when choosing between multiple unknown alternatives, is it better to learn a little about all of them (breadth) or a lot about a single one (depth)? In choice settings where a distribution is exogenous, we find that breadth is optimal for ``small'' problems and that depth is optimal for ``large'' ones. But in IO settings, where firms endogenously choose distributions, we find breadth to be always optimal. Finally, we consider extensions to fat-tails and correlation, and find that in these extensions, breadth is superior.
Behavior seminar
Du 18/05/2017 de 12:00 à 13:00
Salle R2-01, Nouveau Bâtiment, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
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