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Année 2015

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Working papers - documents de travail du CREM

Année 2015

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  • 2015-18 - Kadohognon Sylvain Ouattara
    Délégation stratégique dans un duopole mixte international
  • 2015-17 - Thierry Pénard, Rozenn Perrigot
    Search Online – Purchase Online in Franchising : An Empirical Analysis of Franchisor Website Functionality
  • 2015-16 - Simon Cornée, Gervais Thenet
    Efficience des institutions de microfinance en Bolivie et au Pérou : une approche Data Envelopment Analysis en deux étapes
  • 2015-15 - Mamadou Diop
    Budget cuts on investments : a brake on growth of WAEMU
  • 2015-14 - Raphaël Suire
    La performance des lieux de co-création de connaissances : le cas des FabLab
  • 2015-13 - Emeline Bezin, Fabien Moizeau
    Cultural Dynamics, Social Mobility and Urban Segregation
  • 2015-12 - Jean Bonnet
    L’intention de création de spin-offs académiques : le cas des établissements supérieurs bas-normands
  • 2015-11 - Fabrice Le Lec, Marianne Lumeau, Benoît Tarroux
    Le goût des autres : Une étude expérimentale sur la conformité
  • 2015-10 - Jean-Christophe Poutineau, Gauthier Vermandel
    Financial Frictions and the Extensive Margin of Activity
  • 2015-09 - Yvon Rocaboy
    Competition among national football leagues. Does it exist ? Should we regulate ?
  • 2015-08 - Bourheneddine Ben Dhaou, Abderrahmane Ziad
    The Free Solidarity Value
  • 2015-07 - Emmanuelle Taugourdeau, Abderrahmane Ziad
    When Trade Leads to Inefficient Public Good Provision : A Tax Competition Model
  • 2015-06 - Thierry Pénard, Alexandre Mayol
    Facebook use and individual well-being : Like me to make me happier !
  • 2015-05 - Adama Diaw, Mamadou Diop
    Bilan de la dévaluation du Franc CFA et du Pacte de convergence dans l’UEMOA
  • 2015-04 - Daniel Danau, Annalisa Vinella
    From fixed to state-dependent duration in public-private partnerships
  • 2015-03 - Thomas Le Texier, Mourad Zeroukhi
    How Can Proprietary Software Firms Take Advantage Over Open Source Communities ? Another Story of Profitable Piracy
  • 2015-02 - Daniel Danau, Annalisa Vinella
    Sequential screening with privately known characteristics of cost distribution
  • 2015-01 - Ujjayant Chakravorty, Marie-Helene Hubert, Beyza Ural Marchand
    Food for Fuel : The Effect of the U.S. Biofuel Mandate on Poverty in India

     

 

  • Délégation stratégique dans un duopole mixte international
Creation-Date déc-15
Auteur /Author Kadohognon Sylvain Ouattara, ESCA école de Management & CREM, UMR CNRS 6211, University of Caen Normandie, France
Mots clés / Keywords Duopole mixte, incitations managériales, privatisation partielle
Abstract Many retailers use the Internet not only to provide final customers with information about their products/services, but also to allow these final customers to buy their products/services online. In the particular case of franchising, franchisors and franchisees can create their own websites, which may raise some issues, mostly in terms of uniformity and encroachment. The aim of this paper is to characterize franchisors’ e-commerce strategies by studying their website functionality. Franchisors can use their website to facilitate consumer search. They can also provide content and tools to promote online purchasing (e.g., promotion codes, online payment, delivery options). Why are some franchisor websites more “search oriented” ? What are the factors that influence the provision of informational tools and/or transactional tools ? This empirical study is based on a detailed observation of 130 e-commerce websites of franchisors operating their chains in the French market. Results of the three-stage least square regression models (3SLS) show that the percentage of company-owned stores within a chain has a significant and positive impact on the range of “purchase online” functionality and a neutral effect on the range of “search online” functionality. Moreover, the two types of functionality appear to be complementary on franchisor websites. Finally, in more mature franchise chains, franchisors who own a large proportion of stores are less able to exert their decision power and expand the range of online purchase functionality.
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  • Search Online – Purchase Online in Franchising : An Empirical Analysis of Franchisor Website Functionality
Creation-Date nov-15
Auteur /Author Thierry Pénard, CREM, UMR CNRS 6211, Faculty of Economics, University of Rennes, France
Auteur /Author Rozenn Perrigot, CREM, UMR CNRS 6211, University of Rennes 1, IGR-IAE, France
Mots clés / Keywords Franchising, e-commerce, encroachment, synergies, search online, purchase online
Classification-JEL : L13, L32, D21
Abstract La littérature sur les incitations managériales met en évidence que l’’utilisation des contrats incitatifs pour les gestionnaires permet d’’augmenter le bien-être social. Ce papier considère l’’impact des schémas de rémunération managériaux dans un duopole où une fi…rme semi-publique est en concurrence avec une fi…rme privée étrangère. Nous supposons que le contrat incitatif offert aux gestionnaires de la fi…rme semi-publique tient compte d’’une partie des objectifs sociaux de l’autorité publique. Contrairement au cas où la fi…rme semi-publique est en concurrence avec une fi…rme domestique, nous montrons qu’’il existe un équilibre où la fi…rme semi-publique n’’a pas intérêt à inciter son gestionnaire. De plus, dans le duopole international, l’’introduction de ces contrats incitatifs managériaux peut être néfaste pour le bien-être social.
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  • Efficience des institutions de microfinance en Bolivie et au Pérou : une approche Data Envelopment Analysis en deux étapes
Creation-Date oct-15
Auteur /Author Simon Cornée, CREM, UMR CNRS 6211, University of Rennes 1 and CERMi, France
Auteur /Author Gervais Thenet, CREM, UMR CNRS 6211, University of Rennes 1, IGR-IAE, France
Mots clés / Keywords Microfinance, Efficiency, Financial Performance, Social Performance, Data Envelopment Analysis
Abstract In this paper, we first measure in various ways the efficiency of 61 Bolivian and Peruvian microfinance institutions (MFIs) via a Data Envelopment Analysis approach. Our results show the MFIs under scrutiny achieve a high level of financial efficiency and low scores of social efficiency. We then regress the efficiency scores on a series of factors capturing MFIs’ features. We report that governance, lending methodology, age and operational area are key drivers of social efficiency. However, these factors only have little influence on financial and global efficiency scores.
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  • Budget cuts on investments : a brake on growth of WAEMU
Creation-Date oct-15
Auteur /Author Mamadou DIOP, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords Politique budgétaire, Croissance économique, Coupes budgétaires, Données de Panel, Moyenne mobile
Classification-JEL : E6, C5
Abstract The Millennium World Summit defined the attainment of a 7 to 8% growth rate in 2015 by countries members of the WAEMU as one of the main priority for the authorities of the union. For that matter, governments decided to include fiscal policy in a long term dynamic perspective and to consider large development programs. This article estimates long term effects of fiscal policy on economic growth in the Union with the use of panel data. It also identifies the possible substitution effect between investment in the public and in the private sector. This study shows that there are limitations to the use of the IMF’s methodology for the computation of growth contributions in the analysis of fiscal policy effects on the long term process of wealth generation. It proposes a methodology for estimating panel data using moving averages and taking into account the average duration of the GDP of the area.
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  • La performance des lieux de co-création de connaissances : le cas des FabLab
Creation-Date oct-15
Auteur /Author Rapahël Suire, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords FabLab, platform, middleground, networks, knowledge
Classification-JEL : D20, L10, O32, R11
Abstract If FabLab (Fabrication Laboratory) is nowadays a huge phenomenon their performance based on their socio-economic embeddedness is still an open research question. From an original world database (N=48), we show that production of documented projects and transformation of those projects into new company is a function of interactions between FabLab and its innovative eco-system. In particular, everything remains equal, interactions with peripheral and explorative actors lead to higher level of creativity and documented projects. New company creation appears to be significantly higher when FabLab is an intermediary platform or a middleground between these peripheral actors and a core of bigger companies more oriented in exploitation and seeming harvesting FabLab’s creativity.
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  • La performance des lieux de co-création de connaissances : le cas des FabLab
Creation-Date oct-15
Auteur /Author Rapahël Suire, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords FabLab, platform, middleground, networks, knowledge
Classification-JEL : D20, L10, O32, R11
Abstract If FabLab (Fabrication Laboratory) is nowadays a huge phenomenon their performance based on their socio-economic embeddedness is still an open research question. From an original world database (N=48), we show that production of documented projects and transformation of those projects into new company is a function of interactions between FabLab and its innovative eco-system. In particular, everything remains equal, interactions with peripheral and explorative actors lead to higher level of creativity and documented projects. New company creation appears to be significantly higher when FabLab is an intermediary platform or a middleground between these peripheral actors and a core of bigger companies more oriented in exploitation and seeming harvesting FabLab’s creativity.
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  • Cultural Dynamics, Social Mobility and Urban Segregation
Creation-Date sept-15
Auteur /Author Emeline Bezin, Paris School of Economics (PSE), France
Auteur /Author Fabien Moizeau, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords cultural transmission, peer effects, residential segregation, human capital inequality
Classification-JEL : D31, I24, R23
Abstract We consider the relationship between intergenerational mobility and urban segregation. To this end, we develop a model of neighbourhood formation and preference transmission. The key feature here is that the incentives the parents have to transmit their trait to their children depend on the endogenous social composition of the neighbourhood. When the urban equilibrium that emerges at each date is segregated, some urban areas are characterized by better social mobility prospects than others. Segregation also generates some persistence of socio-economic status within dynasties. We show that there exist multiple history-dependent steady-states in the joint dynamics of segregation and the distribution of culture traits. Further, segregation has ambiguous e-ects for long run efficiency. We show that depending on the degree of substitutability between the two instruments of socialization (i.e, individual e-ort and residential choice), integration may emerge endogenously and be efficient. This suggests public policies that would produce neighbourhood socio-economic compositions that are more favourable to the transmission of particular cultural traits, such as for instance group-based policies.
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  • L’intention de création de spin-offs académiques : le cas des établissements supérieurs bas-normands
Creation-Date sept-15
Auteur /Author Jean Bonnet, CREM UMR-CNRS 6211, UFR SEGGAT, Université de Caen Normandie, France
Mots clés / Keywords Economic Valuation of Research, Academic Staff, Professional Values, Dissatisfactions, Incentives
Classification-JEL : L26, M12, M13
Abstract In France, the Technology Transfer Offices, located within universities and more generally in higher education institutions, greatly developed over the past fifteen years, both in terms of funding and dedicated human resources. Still, academic spin-offs remain few in number and create few jobs (PHILIPART, 2012). The results are much more convincing in the US (SIEGEL, 2013). Few French academic staff members value their academic work (or even contemplate doing so) by creating companies or more generally by economic valuation including licensing patents or creating partnerships with existing companies (EMIN, 2003). And when they set-up spin-offs, business does not necessarily experience an important development like the Anglo-Saxon « gazelles » (BONNET, LE PAPE, NELSON, 2015). Also, there are not many students who consider the option of creating their own business, even though the numbers are improving thanks to the development of entrepreneurship training programs (BOISSIN, CHOLLET, EMIN, 2009). This study aims to highlight the characteristics at work behind the intention to create academic spin-offs by staff members and doctoral students of Lower-Normandy colleges.
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  • Le goût des autres : Une étude expérimentale sur la conformité
Creation-Date sept-15
Auteur /Author Fabrice Le Lec, CES, Université Paris 1 Panthéon Sorbonne, France
Auteur /Author Marianne Lumeau, CEPN, Université de Paris 13 et LABEX ICCA, France
Auteur /Author Benoît Tarroux, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords Conformité, Consommation, Information
Classification-JEL : C91, D80
Abstract Cet article étudie la conformité dans les comportements de consommation. Dans notre expérience, les sujets rapportaient leur satisfaction procurée par deux biens usuels testés en laboratoire, puis en donnaient une évaluation monétaire. Dans un premier traitement, les sujets étaient ``isolés". Dans un deuxième traitement, une information sur le choix effectué par d’autres sujets leur était fournie juste avant de donner une évaluation monétaire. Nos résultats montrent que les sujets sont sensibles au choix des autres de manière asymétrique. Les sujets ayant des goûts en contradiction avec le choix des autres ont tendance à diminuer la valorisation relative du bien préféré. En revanche, lorsque les sujets rapportent une plus grande satisfaction pour le bien également choisi par les autres, cette information n’affecte pas la valorisation monétaire des biens.
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  • Financial Frictions and the Extensive Margin of Activity
Creation-Date juin-15
Auteur /Author Jean-Christophe Poutineau, CREM, UMR CNRS 6211, University of Rennes 1, France
Auteur /Author Gauthier Vermandel, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords Extensive Margin ; Financial Frictions ; Financial Accelerator ; DSGE model ; Bayesian estimation
Classification-JEL : E31 ; E32 ; E52
Abstract This paper evaluates the role of financial intermediaries on the extensive margin of activity. We build a DSGE model that combines the endogenous determination of the number of firms with financial frictions giving rise to the financial accelerator. This model is estimated on US data between 1993Q1 to 2012Q3. We get three main results. First, financial frictions play a key role as a transmission channel for monetary policy shocks to get a standard drop in the number of new firms following a restrictive monetary policy decision. Second, in contrast with real macroeconomic shocks (where investment in existing production lines and the creation of new firms move in the opposite direction), financial shocks have a cumulative e-ect on the two margins of activity, amplifying macroeconomic fluctuations. Third, the critical role of financial factors is mainly observed in the period corresponding to the creation of new firms. In the long run, the variance of the effective entry share is almost explained by a combination of supply shocks.
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  • Competition among national football leagues. Does it exist ? Should we regulate ?
Creation-Date juil-15
Auteur /Author Yvon Rocaboy, CREM, UMR CNRS 6211, University of Rennes 1, France
Mots clés / Keywords Sports economics, National football leagues, International football league, Interleague competition, Competitive balance, Regulation of sports, European football champions league
Classification-JEL : J3, D3, L5, L83
Abstract It is often supposed that the stakeholders of a national football league draw more satisfaction from their sport if the league is balanced. This is the so-called Competitive balance hypothesis. If there exists an international competition like the European champions league, this hypothesis can be challenged however. The utility of national leagues’ stakeholders could be higher, the higher the probability of winning of their representative club at the international level. If it is correct, a league’s governing body intending to maximise the quality of the national league by making use of redistributive schemes would face a tradeoff between national competitive balance and international performance of the national representative club. We propose a simple microeconomic framework to model this tradeoff. If there exists a non-cooperative game among the national league governing bodies, whether it is a Nash or a Stackelberg one, this game would result in inefficient redistributive policies. We find « soft » empirical evidences suggesting that such a competition occurs among the big 5 football leagues in Europe. This result supports the idea of the creation of an international regulatory body. We derive the conditions under which the international regulatory body should ensure that the leagues’ governing bodies implement redistributive schemes guaranteeing the respect of the national competitive balance. We also emphasize the risk of experiencing a drop in the quality of leagues if one of them becomes too big relatively to the others, what we call the tragedy of the wealthy.
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  • The Free Solidarity Value
Creation-Date mai-15
Auteur /Author Bourheneddine Ben Dhaou, CREM, UMR CNRS 6211, Normandy University, University of Caen Basse-Normandie
Auteur /Author Abderrahmane Ziad, CREM, UMR CNRS 6211, Normandy University, University of Caen Basse-Normandie
Mots clés / Keywords Shapley value, Nowak and Radzik value, the free solidarity value, TU cooperative games
Classification-JEL : C71, D60
Abstract In this paper, we consider a cooperative game in which two types of players co-exist : solidary and non solidary players. Solidary players are able to support by consent at least one of their weaker partners without disadvantaging non-solidary players. We present a value of the game which takes ito account the types of players and satisfies some appropriate axioms : Efficiency, Additivity, Symmetry among players who have the same type, Conditional null player, and a new axiom, the Unaffected Allocation of nonsolidary players - (UA) - which is defined as follows : when players have the possibility to decide freely to be solidary, this should affect neither the allocations of non-solidary players, nor the outcome of the game.
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  • When Trade Leads to Inefficient Public Good Provision : A Tax Competition Model
Creation-Date janv-15
Auteur /Author Emmanuelle Taugourdeau, CNRS, Paris School of Economics, CES, ENS Cachan
Auteur /Author Abderrahmane Ziad, CREM, UMR CNRS 6211, Normandy University, University of Caen Basse-Normandie
Mots clés / Keywords Tax competition, Nash equilibrium, Interregional Trade
Classification-JEL : H21, H41, E62, F12
Abstract This paper analyzes the tax competition mechanisms in a context of commodity trade. We show that the trade market equilibrium may restore the efficiency of the public good provision when agents from different countries have symmetric preferences. Asymmetry in preferences implies over or underprovision in public goods depending on the degree of asymmetry between countries. In both cases, the price adjustment leaves the capital stock unchanged so that the stock of capital is not affected by the taxes. Finally, we show that the centralized choice does not systematically restore the efficiency of the public good provision.
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  • Facebook use and individual well-being : Like me to make me happier !
Creation-Date mars-15
Auteur /Author Thierry Pénard, CREM, University of Rennes 1
Auteur /Author Alexandre Mayol, PSE, University Paris 1
Mots clés / Keywords Facebook, self esteem, well-being, Internet, online sociability
Classification-JEL :
Abstract This paper aims to study how Facebook use influences individual well-being. We use a survey conducted on a representative sample of 2,000 French Facebook users. Our results show that Facebook interferes with subjective well-being through its effects on friendships and self-esteem. Hence we find a positive relation between receiving a great number of Likes and comments from Facebook friends and the level of life satisfaction. By contrast, people that would like to receive more Likes tend to be more unsatisfied with their life. The latter result suggests that Facebook use can exacerbate frustration and envy. Finally, the time spent on Facebook, the intensity of online interactions as well as the number of Facebook friends have no direct impact on life satisfaction. All these findings underlines the ambivalence of Facebook use with both positive and negative psychological effects on well-being.
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  • Bilan de la dévaluation du Franc CFA et du Pacte de convergence dans l’UEMOA
Creation-Date janv-15
Auteur /Author Adama Diaw, GERSEG, Université Gaston Berger, Sénégal
Auteur /Author Mamadou Diop, Chercheur associé au CREM CNRS, UMR 6211 (Université de Rennes 1), France
Mots clés / Keywords dévaluation, Franc CFA, Pacte de convergence, UEMOA, Croissance
Classification-JEL : E6, F4
Abstract This article is an extension of former empirical studies on fiscal policy and economic stabilization in the UEMOA area (DIOP M. and DIAW A., 2014). It presents the results of the first decade of macroeconomic policies following the devaluation of the CFA franc in 1994 and the adoption of the convergence pact by the UEMOA countries in 1999. The goal is to assess through national macroeconomic accounts and public finances the contribution of different sectors to the economic growth of this area, mainly the public and the commercial sectors, and then measure the results of the convergence pact. This paper states that the devaluation did not have the expected effects on the Union countries because it ended up with a negative contribution of the commercial sector to the economic growth from 1994 to 2003 except in the Ivory Coasts. This situation has its origins in the managerial policy of the public sector. The fiscal measures defined in the Convergence Pact caused pro-cyclical fiscal policies that led to a malfunction of the automatic stabilizers despite the perfect management of the public debt evolution.
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  • From fixed to state-dependent duration in public-private partnerships
Creation-Date janv-15
Auteur /Author Daniel Danau, University of Caen Basse-Normandie, CREM CNRS UMR 6211, France
Auteur /Author Annalisa Vinella, Università degli Studi di Bari « Aldo Moro », Italy
Mots clés / Keywords Public-private partnerships ; state-dependent duration ; …fixed-term contract ;limited enforcement ; renegotiation ; break-up
Classification-JEL : D82, H57, H81
Abstract A government delegates a build-operate-transfer project to a private firm. At the contracting stage, the operating cost is unknown. The firm can increase the likelihood of facing a low cost (the good state), rather than a high cost (the bad state), by exerting costly effort when building the infrastructure. Once this is in place, the firm learns the true cost and begins to operate. If some partner reneges on the contract thereafter, the court of justice has a limited ability to enforce penalties. Break-up of the partnership occasions a replacement cost for the government that is higher the earlier the contract is terminated. We show that the contract is self-enforcing, entailing no distortions away from effciency, only if the firm is instructed to invest both own and borrowed funds in the project, and the duration of the contract is set longer in the good state than in the bad state. The firm’s investment should not be massive. The debt payment to the lender, which ultimately lies on the government, should be conditioned on the firm not defaulting on the project. The result that the contract should have a longer duration in the good state is at odds with the prescription of the literature on « flexible-term » contracts, which recommends a longer duration when the operating conditions are unfavourable.
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  • How Can Proprietary Software Firms Take Advantage Over Open Source Communities ? Another Story of Profi…table Piracy
Creation-Date janv-15
Auteur /Author Thomas Le Texier, CREM UMR CNRS 6211, University of Rennes 1, France
Auteur /Author Mourad Zeroukhi, Foundation of the University of Rennes 1, CREM CNRS UMR 6211 and IDEC
Mots clés / Keywords Anti-copy Protection ; Compatibility ; Externalities ; Open Source Software ; Piracy ; Proprietary Software
Classification-JEL : L11 ; L82 ; L86
Abstract This paper analyzes the impact on a proprietary software (PS) firm’s profit of the activities of an open source software (OSS) community and a piracy channel, as well as on welfare. We develop a model in which the PS firm competes by price with both producers and also selects its compatibility strategy towards the OSS solution and its protection strategy towards the software copy (PPS). We show that the existence of the piracy channel incumbent enables the PS firm to reach out higher profit than when piracy is prevented. A key mechanism at stake is that the PS monopolist can define its compatibility strategy so as to level price competition down while extending its market share at the same time. Although it has to provide some protection efforts towards the piracy channel to do so, the extra revenues it generates always overcome such latter costs. From a regulatory point of view, our results stress that welfare is higher when piracy is prevented while the PS firmsets compatibility towards the OSS solution
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  • Sequential screening with privately known characteristics of cost distribution
Creation-Date janv-15
Auteur /Author Daniel Danau, CREM UMR CNRS 6211, Université de Caen Basse-Normandie, Normandie Université, France
Auteur /Author Annalisa Vinella, Università degli Studi di Bari « Aldo Moro », Italy
Mots clés / Keywords Sequential screening ; multidimensional screening ; expected cost ; spread ; marginal surplus function
Classification-JEL : D82
Abstract We consider a sequential screening problem where, in the contracting stage, the agent has private information on both the expected value and the spread of the unit cost of production. As the principal’s marginal surplus function becomes less concave / more convex in consumption units, information rents and quantity distortions in the optimal contract reflect progressively stronger concerns with the agent being eager to misrepresent the spread rather than the expected value. As long as marginal surplus is not very convex, relevant incentives to lie on each of the two information dimensions taken separately go in the same direction as in sequential screening problems where only the expected value, or only the spread, is privately known. Otherwise, unusual incentives come to matter. None of the contractual solutions, which are found for different principal’s preferences, reduces to familiar sequential screening mechanisms (Riordan and Sappington, 1987 ; Courty and Li, 2000). The solution is reminiscent of a multidimensional screening mechanism (Armstrong and Rochet, 1999) only if marginal surplus is sufficiently Convex.
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  • Food for Fuel : The Effect of the U.S. Biofuel Mandate on Poverty in India
Creation-Date janv-15
Auteur /Author Ujjayant Chakravorty, Department of Economics, Tufts University, USA
Auteur /Author Marie-Helene Hubert, CREM UMR CNRS 6211, University of Rennes 1, France
Auteur /Author Beyza Ural Marchand, Department of Economics, University of Alberta, Canada
Mots clés / Keywords Biofuels, Food Prices, HouseholdWelfare, Renewable Fuel Standards, Poverty
Classification-JEL : D31, O12, Q24, Q42
Abstract Many countries have adopted energy policies that promote biofuels as a substitute for gasoline in transportation. For instance, more than 40% of U.S. grain is now used for energy and this share is expected to rise under the current Renewable Fuels Mandate. This paper examines the distributional effects of this energy mandate on India using micro-level survey data. First, we use a model with endogenous land use to estimate the effect of the biofuel policy on the world price of selected food commodities - rice, wheat, sugar and meat and dairy, which together provide almost 70% of Indian food calories. Their world prices are predicted to increase between 5% and 11%. Uncertainty in model parameters is incorporated using Monte Carlo techniques that generate standard errors on these price predictions. The effect of these price increases on household welfare is then estimated using data on consumption and wage incomes. We estimate pass-through elasticities from time-series data then compute the negative consumption effects and positive wage impacts under perfect and imperfect pass-through from world to domestic prices. Under perfect pass-through, the mandate leads to a reduction in rural poverty by about 39 million people, and an increase in the number of urban poor by 4 million people. Under imperfect price pass-through, both rural and urban poverty increase by a total of 8 million people. Our study suggests that the US biofuel mandate may lead to modest increase in food prices, but have sizable global welfare impacts, which may differ across rural and urban households.
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