Calendrier du 31 mars 2022
Travail et économie publique externe
Du 31/03/2022 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
AHLFELDT Gabriel (LSE)
Optimal minimum wages
écrit avec Duncan Roth and Tobias Seidel
We develop a quantitative spatial model with heterogeneous firms and a monopsonistic labour market to derive minimum wages that maximize employment or welfare. Quantifying the model for German micro regions, we find that the German minimum wage, set at 48% of the national mean wage, has increased aggregate worker welfare by about 2.1% at the cost or reducing employment by about 0.3%. The welfare-maximizing federal minimum wage, at 60% of the national mean wage, would increase aggregate worker welfare by 4%, but reduce employment by 5.6%. An employment-maximizing regional wage, set at 50% of the regional mean wage, would achieve a similar aggregate welfare effect and increase employment by 1.1%.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 31/03/2022 de 12:30 à 13:30
Salle R1-14 Campus Jourdan 75014 Paris
CASELLA Alessandra (Columbia)
Delegation under Liquid Democracy: One Experiment and a Half
Under Liquid Democracy (LD), decisions are taken by referendum, but voters are allowed to delegate their votes to other voters. LD has been heralded as the golden medium between direct and representative democracy: better than the former because experts can be delegated votes and thus weigh more; better than the latter because different experts can be chosen for each decision, according to their specific competences. When experts are correctly identified, LD shifts voting weight from a larger number of less informed voters towards fewer better-informed voters. Theory shows that the outcome can be superior to simple majority voting. However, by reducing the number of voters, delegation reduces the variety of independent information sources. Optimal delegation is counter-intuitively rare. We report the results of a lab experiment where by design experts are correctly identified and yet systematic over-delegation leads to LD underperforming relative to simple majority. A second experiment, run on a large electorate online, will have a different design, making it possible for some information to be worse than random. We hypothesize that in such an environment, closer to the confused conditions in which political decisions are made, LD may perform better, relative to majority voting.
Behavior seminar
Du 31/03/2022 de 11:00 à 12:00
SESSION CANCELLED
DOLTON Peter (University of Sussex)
Is Football a Matter of Life and Death – Or is it more Important than that?
écrit avec George MacKerron (University of Sussex)
Football is the national sport of most of the planet. This paper examines how happy the outcomes of football matches make us. We calibrate these results relative to other activities and estimate the dynamic effects these exogenous events have on our utility over time. We find that football – on average – makes us unhappier – so why would we go through the pain of following a football team? This behavioural choice paradox occupies much of the paper, so we investigate why we go on following our teams, even though matches make us more unhappy on average. We examine how much our story changes if we examine the dynamic effects of football matches over time in different hours before and after the game and the extent to which our happiness is influenced by what we would rationally expect the result to be beforehand – as based on the betting odds.
Macroeconomics Seminar
Du 31/03/2022
LANE Philip (ECB)
With Lecture Chaire Banque de France