Monday Lunch Seminars
Monday Lunch Seminars
Monday Lunch Seminars Kym Pram (EUI)
"Hard Evidence and Welfare in Adverse Selection Environments" abstract I consider environments in which an agent with private information can acquire arbitrary hard evidence about his type before interacting with a principal. In a broad class of screening models, I show that there is always an equilibrium which interim Pareto-improves over the no-evidence benchmark whenever…
Monday Lunch Seminars Marco Mazzoli (Università di Genova), Matteo Morini (University of Torino) and Pietro Terna (Collegio Carlo Alberto)
"Business cycle in a macromodel with oligopoly andagents heterogeneity: an agent-based approach"
Monday Lunch Seminars Marit Hinnosaar (CCA)
"Price discriminating minorities"
Monday Lunch Seminars Alessandro Barattieri (CCA)
"Banks Interconnectivity and Leverage"
Monday Lunch Seminars Lucas Maestri (EPGE-FGV)
"Optimal Mirrleesian Taxation in Non-competitive Labor Markets"
Monday Lunch Seminars Julien Penasse (University of Luxembourg)
"Bubbles and Trading Frenzies: Evidence from the Art Market" abstract We use the art market as a laboratory to test speculative bubble models based on investor disagreement. Several aspects distinguish the art market from other markets: it features unlevered and wealthy investors, financial and technological innovations are absent, and transaction costs are substantial. We find…
Monday Lunch Seminars Ignacio Monzon (CCA), Andrea Gallice (CCA)
"Cooperation in Social Dilemmas through Position Uncertainty" Abstract In a social dilemma, individual incentives and collective interests are at odds. We propose a simple mechanism to sustain full cooperation in one-shot social dilemmas among a finite number of agents. Players sequentially decide whether to contribute to a public good. They observe the actions of some…
Monday Lunch Seminars Roberto Marfe (CCA)
"Labor Rigidity and the Dynamics of the Value Premium" (Note: the seminar is on Wednesday) abstract This paper documents that (i) the labor-share is a strong predictor of both the value and duration premia, (ii) these premia are highly correlated, and (iii) the labor-share does not forecast the component of the value premium orthogonal to the…
Monday Lunch Seminars Dino Gerardi (CCA)
"Efficiency in Decentralized Markets with Aggregate Uncertainty" (Note: the seminar is on Thursday) Abstract We study efficiency in decentralized markets with aggregate uncertainty and one-sided private information. There is a continuum of mass one of uninformed buyers and a continuum of mass one of informed sellers. Buyers and sellers are randomly and anonymously matched in…
Monday Lunch Seminars Emilio Paolucci, Paolo Neirotti, Danilo Pesce (Politecnico di Torino)
"ICT-Based Innovation and the Changing Nature of Competition: Evidence from Information Intensive Industries in Italy" Abstract Despite the increasing interest in Information and Communication Technology’s (ICT) potential to transform industry structure and competition, there is still not comprehensive evidence on how ICT-related innovations affect competitive dynamics due to the low number of industry-level studies. Strategic…
Monday Lunch Seminars Toomas Hinnosaar (CCA)
"Rent-seeking contest design" Abstract This paper studies the relationship between information, incentives, and outcomes in rent-seeking contests. A common solution to limiting socially wasteful rent-seeking activities is transparency. I show that information strictly increases efforts in rent-seeking contests. Thus, the socially optimal rent-seeking contest provides as little information as possible about the competition. The model…
Monday Lunch Seminars Matteo Triossi (University of Chile)
"Costly Information acquisition: the role of abstention" Abstract Citizens have little and uneven levels of political knowledge, consistently with the rational ignorance hypothesis. The paper presents a strategic model of common value elections with voluntary voting and endogenous information acquisition accounting for these facts. While, under compulsory voting, majoritarian elections generically fail to completely aggregate…
Monday Lunch Seminars Rigas Oikonomou (UC Louvain)
"Long Term Government Bonds" abstract We study the impact of debt maturity on optimal fiscal policy by focusing on the case where the government issues a bond of maturity N > 1: Isolating these e ffects helps provide insight into the construction of optimal government debt portfolios. We find long bonds may not complete the…
Monday Lunch Seminars Matteo Cacciatore (HEC Montreal)
"Market Reforms at the Zero Lower Bound" Abstract We study the impact of product and labor market reforms when an economy faces major slack and a binding constraint on monetary policy easing---such as the zero lower bound. To this end, we build a two-country two-final-goods model featuring endogenous producer entry, labor market frictions, and nominal…
Monday Lunch Seminars Chiara Daniela Pronzato (University of Turin and Collegio Carlo Alberto)
"Gender Quotas: Challenging the Boards, Performance and the Stock Market" with Valeria Ferraro (Bocconi University) and Paola Profeta (Bocconi University and Dondena)
Monday Lunch Seminars Ignacio Monzon (Collegio Carlo Alberto)
"Observational Learning in Large Anonymous Games" (Note: the seminar is on Thursday)
Monday Lunch Seminars Martina Viarengo (Graduate Institute Geneve)
"Nation-Building Through Compulsory Schooling During the Age of Mass Migration" Abstract By the mid-19th century, America was the best educated nation on Earth: significant financial investments in education were being undertaken and the majority of children voluntarily attended public schools. So why did American states start introducing compulsory schooling laws at this point in time?…
Monday Lunch Seminars Francesca Brusa (Temple University)
"Human Capital, Unemployment Risk, and Asset Prices" Abstract This paper relates the riskiness of human capital to uncertainty in the labour market and documents a role for unemployment as a determinant of human wealth. Starting from the labour market equilibrium outcome, I derive two unemployment-adjusted measures of labour income and rely on U.S. micro-level data…
Monday Lunch Seminars Cristian Bartolucci (Collegio Carlo Alberto)
"A Symmetric Model of Firms and Workers" Abstract In this paper we develop a model in which unemployed searchers may either encountera firm and be considered as a new employee or may generate a business idea in which case they begin their own firm. This is the first paper in which an equilibrium distribution of…