François Durand, Antonin Macé* and Matías Núñez This article was originally published in the May 2021 edition of the 5 papers…in 5 minutes. How can we organise elections so as to end up with a winner who represents most closely the voters’ preferences? While majority rule seems like the best way to decide between two […]
Frédéric Koessler: “Informed persuasion: designing robust information disclosure rules” (5 papers… in 5 minutes)
The article “Informed persuasion: designing robust information disclosure rules” was originally published in the March 2021 edition of 5 papers… in 5 minutes!
Nikhil Vellodi* and Joshua Weiss This article was originally published in the January 2021 edition of the 5 papers…in 5 minutes. Vaccine policies are a crucial ingredient in the eradication of pandemics. Given the scarcity of supply, and the urgent need for roll-out, the prudent prioritization of vaccine allocation is of paramount importance. Prevailing prioritization schemes […]
Selective Memory of a Psychological Agent. Jeanne Hagenbach, Frédéric Koesler. PSE WP n°2021-11 We consider a single psychological agent whose utility depends on his action, the state of the world, and the belief that he holds about that state. The agent is initially informed about the state and decides whether to memorize it, otherwise he […]
Information Design by an Informed Designer. Frédéric Koesler, Vasiliki Skreta. PSE WP n°2021-03 A designer is privately informed about the state and chooses an information disclosure mechanism to influence the decisions of multiple agents playing a game. We define an intuitive class of incentive compatible information disclosure mechanisms which we coin interim optimal mechanisms. We […]
On the market structure of central counterparties in the EU. Gabrielle Demange, Thibaut Piquard. PSE WP n°2021-02 New regulations promote the role of Central Counter-Parties as insurers of counterparty risk to stabilize derivative markets. Most CCPs are for-profit institutions, competing for profits and market shares. Whether competition is harmful or beneficial to efficiency and financial […]