Calendrier du 25 novembre 2019
Roy Seminar (ADRES)
Du 25/11/2019 de 17:00 à 18:30
salle R2-21, campus Jourdan - 75014 Paris
ASHLAGI Itai (Stanford University)
Improving efficiency in kidney exchange
écrit avec Market Failure in Kidney Exchange, with Nikhil Agarwal, Eduardo Azevedo, Clayton Featherstong, Omer Karduman and Scrip Systems with Minimal Availability, with Suleyman Kerimov (in progress)
We find that kidney exchange markets suffer from market failures whose remedy
could increase transplants by 30%-63%. We document that the market is fragmented and inefficient: most transplants are arranged by hospitals instead of
national platforms. We propose a model to show two sources of inefficiency: hospitals
only partly internalize their patients' benefits from exchange, and current platforms sub-optimally reward hospitals for submitting patients and donors.
We propose a scrip system to eliminate free-riding of hospitals, which will eliminate some of the inefficiency in the market.
To understand how a scrip system will behave in practice, we study a stylized dynamic “exchanging favors” model that captures special features of kidney exchange.
Each period one agent requests service, one agent provides service, and the service requester pays a scrip to
the service provider. We analyze the scrip distribution under the assumption that, for each service request, only few agents are able to provide the requested
service. We identify conditions, under which the scrip distribution is stable in the sense that
agents do not deviate much from their initial endowment with high probability.
The results hint that scrip systems will result in better outcomes for kidney exchange platforms, where free riding is ubiquitous.
Texte intégral
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 25/11/2019 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle 116) 75013 Paris
REVERDY Camille (University of Paris 1 )
Estimating the General Equilibrium Effects of Services Trade Liberalization
The intangible nature of services and the lack of disaggregated trade data enlarge the difficulties involved in assessing impediments to cross-border trade in services.
In an attempt to reduce the information gap existing in services trade, this paper estimates the conditional and general equilibrium responses to the liberalization of services trade, using a three step estimation method relying on structural gravity model. Focusing on eight services sectors: construction, land transport, maritime transport, air transport, logistics services, telecommunication services, financial services and professional services, I find that the removal of restrictive policy measures applied by the importing country would lead to welfare gains between $10%$ and $31%$. The largest welfare improvements are found for the sector `Air Transport', the most restrictive sector on average, and for the smallest trading countries.
Régulation et Environnement
Du 25/11/2019 de 12:00 à 13:00
salle R1-13, campus Jourdan - 75014 Paris
DAUBANES Julien (University of Geneva (GSEM) and MIT (CEEPR))
Green finance and climate policy
écrit avec Jean-Charles-Rochet: University of Geneva (SFI, GSEM) and MIT (Sloan)
A rapidly increasing amount of investments commit firms to undertake climate-friendly projects. Recent empirical evidence shows that certified green bonds have a significant impact on CO2 emissions. Yet little is known about the economic mechanisms of green finance and its possible contribution to climate policy.
This paper develops the first formal analysis of green finance as a climate policy instrument. We examine firms that undertake green and conventional projects, and finance the former through green bonds. Green projects emit less CO2, but they entail costs which stock investors do not directly observe. Our theory holds that green bonds allow firms to signal to stock investors their otherwise unobservable efficiency at controlling their CO2 emissions.
Our model consistently accounts for stylized facts on the recent development of green finance. It explains why firms benefit from green bonds even though these bonds' yield spread is small in practice compared to conventional bonds. The analysis has direct implications for the effective design of climate policy. Like carbon taxation, green finance induces firms to undertake more green projects at the expense of conventional ones. It may further amplify the effect of carbon taxation. Moreover, unlike standard voluntary programs, green finance induces firms to abandon their least efficient conventional projects.
Paris Game Theory Seminar
Du 25/11/2019 de 11:00 à 12:00
Centre Emile Borel, Institut Henri Poincaré, 11 rue Pierre et Marie Curie, Paris 5ème
PREDTETCHINSKI Arkadi ()
Arkadi PREDTETCHINSKI