Template-Type: ReDIF-Paper 1.0 Author-Name: Bruno Van der Linden Author-X-Name-First: Bruno Author-X-Name-Last: Van der Linden Author-Workplace-Name: Université Catholique de Louvain Author-Email: vanderlinden@ires.ucl.ac.be Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IÉSEG School of Management Title: The net effect of unemployment benefits, sanctions and training on regular employment Abstract: This paper measures the impact of labor market policies (LMPs) on regular employment. Contrary to previous empirical studies, we conduct an econometric analysis based on sound theoretical foundations. The specification is based on an equilibrium job search model where LMPs affect tightness on the labor market. The impacts of a comprehensive set of LMPs on the regular employment rate and on wages are jointly estimated. Taking care of the endogeneity of LMPs, our results for Belgium indicate that unemployment benefits have a positively and small impact on wages and a negative one on the employment rate. The rate of sanctions has a small negative effect on wages. Their impact on the employment rate is however negative. This can be understood if the efficiency of the sanctioned in the matching process is sufficiently lower than the one of the insured unemployed. Training programmes have a small negative effect on wages and a small positive one on employment. Our analysis also shows that the results can be sensitive to the choice made about the exogeneity of LMPs. Length: 30 pages Creation-Date: 2003-10 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=897078215_2003-ECO-01_VanderLinden_Dor.pdf File-Format: Application/pdf File-Function: First version, 2003 Number: 2003-ECO-01 Classification-JEL: J63, J64, J65, J68 Keywords: evaluation; labor market policies; wage bargaining; equilibrium unemployment; equilibrium search Handle: RePEc:ies:wpaper:E200301 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: JEREM, University of Perpignan Author-Name: Christine Comes Author-X-Name-First: Christine Author-X-Name-Last: Comes Author-Workplace-Name: Groupe AZUR GMF, Paris Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LABORES and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Temporal Technical and Profit Efficiency Measurement: Definitions, Duality and Aggregation Results Abstract: The shortage function, an important tool in production theory, measures potential increases in outputs and decreases in inputs for a given direction g at a given date. To develop a temporal version of technical efficiency measurement, we introduce the concept of a temporal shortage function. This temporal efficiency measure is easily computed using linear programming. We also establish a duality result stating that the temporal profit function and the temporal shortage function are dual to one another. This result has two consequences. First, one can derive a shadow price path via the shadow prices of the temporal shortage function. Second, transposing the classic Farrell inefficiency decomposition, temporal profit efficiency is decomposed into temporal technical and temporal allocative efficiency components. Finally, in line with the recent literature on aggregation over firms, this contribution treats the possibilities and limits of the aggregation of efficiency measures over time. Length: 26 pages Creation-Date: 2005-05 Revision-Date: Publication-Status: Published in International Journal of Production Economics, September 2006, 103(1), pp. 48-63 File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=44045475_2005-ECO-1_Briec_Comes_KK.pdf File-Format: Application/pdf File-Function: First version, 2005 Number: 2005-ECO-01 Classification-JEL: Keywords: Temporal shortage function; temporal profit function; aggregation over time Handle: RePEc:ies:wpaper:E200501 Template-Type: ReDIF-Paper 1.0 Author-Name: Stéphane Blancard Author-X-Name-First: Stéphane Author-X-Name-Last: Blancard Author-Workplace-Name: CERESUR, University of La Réunion Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: GREMARS, University of Lille 3 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: JEREM, University of Perpignan Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LABORES and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Short- and Long-Run Credit Constraints in French Agriculture: A Directional Distance Function Framework Using Expenditure-Constrained Profit Functions Abstract: This empirical application investigates the eventual presence of credit constraints using a panel of French farmers. This is the first European application using a direct modelling approach based upon axiomatic production theory. The credit constrained profit maximisation model proposed by Färe, Grosskopf and Lee is extended in three ways. First, we rephrase the model in terms of directional distance functions to allow for duality with the profit function. Second, we model the presence of credit constraints in the short-run and investment constraints in the long-run using short- respectively long-run profit functions. Third, we lag the expenditure constraint one year to account for the separation between planning and production. We find empirical evidence of both credit and investment constraints, though their relative impact on the degree of financial inefficiency is rather low in the short-run. Financially unconstrained farmers are larger, perform better, and seem to benefit from a virtuous circle where access to financial markets allows better productive choices. In the long-run, almost all farms seem to suffer from credit constraints for financing their investments. Length: 43 pages Creation-Date: 2005-05 Revision-Date: Publication-Status: Published in American Journal of Agricultural Economics, May 2006, 88(2), pp. 351-364 File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=14417059_2005-ECO-2_Blancard_Boussemart_Briec_KK.pdf File-Format: Application/pdf File-Function: First version, 2005 Number: 2005-ECO-02 Classification-JEL: D21, D24, Q12, Q14 Keywords: proportional distance function, profit function, credit constraint Handle: RePEc:ies:wpaper:E200502 Template-Type: ReDIF-Paper 1.0 Author-Name: Ingrid Bierla Author-X-Name-First: Ingrid Author-X-Name-Last: Bierla Author-Workplace-Name: IESEG School of Management Author-Name: Sebastien Richard Author-X-Name-First: Sebastien Author-X-Name-Last: Richard Author-Workplace-Name: Faculté des Sciences Economiques et Sociales, Lille 1 Author-Email: Sebastien.Richard@univ-lille1.fr Title: Identifier les «préférences sociales»: une étude expérimentale en jeu d’ultimatum Abstract: Partant du constat que des préférences sociales très différentes peuvent conduire, assez paradoxalement, à des comportements assez similaires en jeu d’ultimatum, ce papier a pour ambition de proposer une méthode d’identification de ces préférences. Nous proposons une modélisation théorique en incertitude du comportement de trois types de joueurs : les égoïstes, les compétiteurs et les averses à l’inégalité et testons, lors d’une session expérimentale, son pouvoir prédictif des préférences sociales. Nous montrons alors que celles-ci peuvent être identifiées avec précision : lors d’un questionnaire post-expérimental, plus de 80% des joueurs valident notre prédiction sur leur préférence. Length: 17 pages Creation-Date: 2005-06 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=14417059_2005-ECO-3_Bierla-Richard.pdf File-Format: Application/pdf File-Function: First version, 2005 Number: 2005-ECO-03 Classification-JEL: C78, C91, D01 Keywords: Jeu d’ultimatum, préférences sociales Handle: RePEc:ies:wpaper:E200503 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Email: briec@univ-perp.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Input, Output and Graph Technical Efficiency Measures on Non-Convex FDH Models with Various Scaling Laws: An Integrated Approach Based upon Implicit Enumeration Algorithms Abstract: In a recent article, Briec, Kerstens and Vanden Eeckaut (2004) develop a series of nonparametric, deterministic non-convex technologies integrating traditional returns to scale assumptions into the non-convex FDH model. They show, among other things, how the traditional technical input efficiency measure can be analytically derived for these technology specifications. In this paper, we develop a similar approach to calculate output and graph measures of technical efficiency and indicate the general advantage of such solution strategy via enumeration. Furthermore, several analytical formulas are established and some algorithms are proposed relating the three measurement orientations to one another. Length: 29 pages Creation-Date: 2005-08 Revision-Date: Publication-Status: Published in TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, June 2006, 14(1), pp. 135-166 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=14417059_2005-ECO-4_Briec_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2005 Number: 2005-ECO-04 Classification-JEL: Keywords: Data Envelopment Analysis, Free Disposal Hull, technical efficiency Handle: RePEc:ies:wpaper:E200504 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Octave Jokung Author-X-Name-First: Octave Author-X-Name-Last: Jokung Author-Workplace-Name: EDHEC Business School, Lille Title: Mean-Variance-Skewness Portfolio Performance Gauging: A General Shortage Function and Dual Approach Abstract: This paper proposes a nonparametric efficiency measurement approach for the static portfolio selection problem in mean-variance-skewness space. A shortage function is defined that looks for possible increases in return and skewness and decreases in variance. Global optimality is guaranteed for the resulting optimal portfolios. We also establish a link to a proper indirect mean-variance-skewness utility function. For computational reasons, the optimal portfolios resulting from this dual approach are only locally optimal. This framework permits to differentiate between portfolio efficiency and allocative efficiency, and a convexity efficiency component related to the difference between the primal, non-convex approach and the dual, convex approach. Furthermore, in principle, information can be retrieved about the revealed risk aversion and prudence of investors. An empirical section on a small sample of assets serves as an illustration. Length: 36 pages Creation-Date: 2005-09 Revision-Date: Publication-Status: Published in Management Science, January 2007, 53(1), pp. 135-149 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=36985728_2005-ECO-5_Briec_Kerstens_Jokung.pdf File-Format: Application/pdf File-Function: First version, 2005 Number: 2005-ECO-05 Classification-JEL: G11 Keywords: shortage function, efficient frontier, mean-variance-skewness, portfolios, risk aversion, prudence Handle: RePEc:ies:wpaper:E200505 Template-Type: ReDIF-Paper 1.0 Author-Name: Emili Grifell-Tatjé Author-X-Name-First: Emili Author-X-Name-Last: Grifell-Tatjé Author-Workplace-Name: Universitat Autònoma de Barcelona, Spain Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM, IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Incentive Regulation and the Role of Convexity in Benchmarking Electricity Distribution: Economists versus Engineers Abstract: This note illustrates the potential impact of the specification of a convex production technology on establishing minimal costs compared to the use of a non-convex technology when benchmarking electricity distributors. This methodological reflection is mainly motivated by recent engineering literature providing evidence for non-convexities in electricity distribution. An empirical illustration using non-parametric specifications of technology illustrates this main point using a sample of Spanish electricity distribution firms earlier analysed in Grifell-Tatjé and Lovell (2003). Length: 16 pages Creation-Date: 2007-10 Revision-Date: Publication-Status: Published in Annals of Public and Cooperative Economics, June 2008, 79(2), pp. 227-248 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=910908507_2007-ECO-1-Grifell_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2007 Number: 2007-ECO-01 Classification-JEL: L430, L940 Keywords: Convexity, incentive regulation, benchmarking, engineering Handle: RePEc:ies:wpaper:E200701 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3, LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Name: Christophe Tavera Author-X-Name-First: Christophe Author-X-Name-Last: Tavera Author-Workplace-Name: CREM-Université de Rennes I Title: More evidence on technological catching-up in the manufacturing sector Abstract: Production frontiers for the manufacturing sector are estimated to determine a “country specific” catching-up process of Total Factor Productivity (TFP).TFP gains are gauged at the manufacturing industry level for 14 OECD countries over the 1970-2001 period. Our TFP measure does not assume technical or allocative efficiency which are inherent drawbacks of usual TFP indices. We show that catching-up processes can be very different between sub-periods and across countries. A significant catching-up process was at work in the manufacturing sector between 1970 and 1986 then it overturned over the period 1987-2001. During the first sub-period, the speed of technological catching-up of the euro-zone countries is definitely higher than those of the other European or OECD nations whereas the divergence noted in second sub-period has the same order of magnitude among the three groups. Length: 12 pages Creation-Date: 2007-11 Revision-Date: Publication-Status: File-URL: File-Format: Application/pdf File-Function: First version, 2007 Number: 2007-ECO-02 Classification-JEL: O33,O40,O47 Keywords: Catching-up; TFP change index; Technology adoption; Production Frontier Handle: RePEc:ies:wpaper:E200702 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3, LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IÉSEG School of Management Title: Comparing TFP Catching-up and Capital Deepening in US and European Growths: A Directional Distance Function Approach Abstract: In Solow’s model the income convergence between countries arises from two main sources: a capital deepening effect resulting from the diminishing returns of the production technology and a technological transfer/diffusion effect related to Total Factor Productivity (TFP) differences. A large literature has been devoted to analyze these effects but most of the studies suffer from three weaknesses by defining the US as the a priori technological leader, by using a parametric functional form and by assuming constant returns to scale for the technology. Our paper offers an alternative approach based on a non-parametric programming framework and the estimation of directional distance functions. We explicitly separate country TFP differences into two components: a technology effect and a scale effect to study the catching-up process on each of them. We also analyze the role of the capital deepening effect by introducing a relevant measure of the structural efficiency which reveals inefficiencies due to changes in input-ratio differences. Our empirical work focuses on 15 European countries (EU) and the US over the period 1980-2004. We use time series procedures to test for convergence for individual countries or sub-sets of countries. Length: 27 pages Creation-Date: 2008-01 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=838424604_2008-ECO-1_Boussemart-Leleu.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-01 Classification-JEL: O47, O33, D24 Keywords: TFP Catching-up, Capital Deepening, Convergence, Directional Distance Function. Running title: Comparing TFP Catching-up and Capital Deepening Handle: RePEc:ies:wpaper:E200801 Template-Type: ReDIF-Paper 1.0 Author-Name: Stéphane Blancard Author-X-Name-First: Stéphane Author-X-Name-Last: Blancard Author-Workplace-Name: CESAER, UMR INRA-ENESAD Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3, LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: LEM-CNRS (UMR 8179), IÉSEG School of Management Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IÉSEG School of Management Title: How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms Abstract: We focus on a simple framework on wheat producer behaviour in a context of price output uncertainty. More precisely, we establish a relationship between ex post output price level and allocative inefficiency that allows to characterize farmers’ risk preferences. Given this analysis, the connection between risk aversion and other socioeconomic variables (such as degree of output specialisation, total asset, debts, farmer’s age…) can furthermore empirically be explored. This relationship is empirically tested on an unbalanced panel including about 650 wheat producers located in the French Department of Meuse over 1992-2003. Length: 16 pages Creation-Date: 2008-05 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=838424604_2008-ECO-2_Blancard-Boussemart-Crainich-Leleu.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-02 Classification-JEL: D81, D21, D61, Q12 Keywords: producer behaviour, price uncertainty, allocative inefficiency, risk aversion, agriculture Handle: RePEc:ies:wpaper:E200802 Template-Type: ReDIF-Paper 1.0 Author-Name: Arfa Chokri Author-X-Name-First: Arfa Author-X-Name-Last: Chokri Author-Workplace-Name: INTES, University of Carthage, Tunisia Author-Email: chokri.arfa@intes.rnu.tn Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IÉSEG School of Management Author-Name: Ben Romdhane Habiba Author-X-Name-First: Ben Romdhane Author-X-Name-Last: Habiba Author-Workplace-Name: INSP, Faculty of Medicine, Tunisia Title: Directional distance function for FDH technologies with an application to Tunisian public hospitals Abstract: Tunisian’s public hospitals have been often deemed inefficiency, yet unfortunately no empirical study has demonstrated the breadth and/or depth of this inefficiency. To address this issue, we develop a non parametric methodology to measure efficiency at patient level for five cardiology wards. This methodology is based on the estimation of the input directional distance function, using a recent developed linear form of free disposal hull model. Results show that, on average, each cardiology ward could save more than 50% of each input; whereas at the patient level, illness severity and patients’ profiles were associated with inefficiency. At the ward level, practice patterns and wards missions explain disparities on inefficiency. By defining sub-specializations or standard procedures for cardiology wards, we demonstrate where the public hospitals can save resources when treating these patients. Length: 24 pages Creation-Date: 2008-07 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=283760913_2008-ECO-3_Leleu.pdf File-Format: Application/pdf File-Function: First version, Number: 2008-ECO-03 Classification-JEL: Keywords: Directional Distance Function, Free Disposal Hull, Tunisian’s public hospitals Handle: RePEc:ies:wpaper:E200803 Template-Type: ReDIF-Paper 1.0 Author-Name: Aude Deville Author-X-Name-First: Aude Author-X-Name-Last: Deville Author-Workplace-Name: LEG-FARGO, IAE de Dijon–Université de Bourgogne Author-Email: aude.deville@u-bourgogne.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IÉSEG School of Management Title: Lorsque mesurer la performance s’envisage comme un outil d’aide à la décision: le cas de la performance des agences bancaires Abstract: In this paper, we introduce two new indicators of the operational and the financial performance of bank branches networks. We develop an alternative approach to the traditional productivity measures to take into account size, environmental and structural effects in the benchmark process. We use a nonparametric production frontier to estimate the efficiency indices within a unified framework. We apply our analysis to a sample of 1423 bank branches belonging to 15 regional banks. Our results show that the operational and financial performances are weakly related to each other. Therefore, the two types of indicators appear to be more complementary rather than substitute. Length: 45 pages Creation-Date: 2008-07 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=992934606_2008-ECO-4_Deville_Leleu.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-04 Classification-JEL: Keywords: Retail networks, bank, financial performance, operational performance Handle: RePEc:ies:wpaper:E200804 Template-Type: ReDIF-Paper 1.0 Author-Name: Laurens Cherchye Author-X-Name-First: Laurens Author-X-Name-Last: Cherchye Author-Workplace-Name: University of Leuven, Campus Kortrijk and Center for Economic Studies; Fund for Scientific Research - Flanders Author-Name: Timo Kuosmanen Author-X-Name-First: Timo Author-X-Name-Last: Kuosmanen Author-Workplace-Name: Economic Research Unit, MTT Agrifood research Finland Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Technical and economic efficiency measures under short run profit maximizing behavior Abstract: The duality between measures of economic and technical efficiency has been extensively studied in the productive efficiency analysis. This duality ensures a meaningful interpretation of technical efficiency as economic efficiency evaluated at the most favorable shadow prices. This paper concentrates on economic efficiency as short run profit efficiency. We first argue that a modified version of Varian’s goodness-of-fit measure provides an appropriate economic efficiency measure in that context. Next, we show that a variant of the McFadden gauge function provides a natural dual efficiency measure for this short run profit efficiency measure. In particular, we establish two attractive properties of that technical efficiency measure: (i) it can be interpreted as Varian’s profit efficiency measure evaluated at shadow prices; (ii) it provides an upper bound for profit efficiency. Length: 16 pages Creation-Date: 2008-07 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=283760913_2008-ECO-5_Leleu.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-05 Classification-JEL: D2, D24 Keywords: Profit Efficiency, Technical Efficiency, Technology Distance Functions Handle: RePEc:ies:wpaper:E200805 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3, LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: LAMPS, University of Perpignan, IAE Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Title: Linear programming solutions and distance functions under a constant returns to scale technology Abstract: This note generalizes analytical relationships among activity variables of DEA models previously derived by Boussemart, Briec and Leleu (2007). We relax the asumption of constant returns to scale by showing that the key results hold under a weaker asumption of homogeneity. We use the notion of alpha-returns to scale to extend the analysis to strictly increasing and decreasing returns, covering now the whole range of returns to scale for multi-output homogenous technologies. Length: 10 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: Published in Journal of the Operational Research Society, January 2009, 60(1), pp. 72-78. File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=124436188_2008-ECO-6-Boussemart_Leleu.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-06 Classification-JEL: D24 Keywords: Data envelopment analysis, Methodology, Production Handle: RePEc:ies:wpaper:E200806 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: d.crainich@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Name: Ana Mauleon Author-X-Name-First: Ana Author-X-Name-Last: Mauleon Author-Workplace-Name: FNRS et CEREC, Facultés Universitaires Saint-Louis et CORE, UCLouvain Title: Impact du passage à la T2A: une modélisation pour l’hôpital public Abstract: Nous analysons les conséquences du passage d’un financement par dotation globale à un financement prospectif lié à l’activité et tentons de déterminer en quoi la réforme pourrait être préjudiciable ou bénéfique à la santé financière des hôpitaux publics. Nous développons un modèle théorique qui lie la demande des patients aux décisions conjointes des médecins et des managers d’hôpitaux pour analyser la façon dont le nouveau mode de financement affecte les décisions prises par l’ensemble des agents et donc l’équilibre budgétaire des établissements. Length: 18 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: Published in Revue Economique, March 2009, 60(2), pp. 471-488 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1022636968_2008-ECO-7_Crainich_Leleu_Mauleon.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-07 Classification-JEL: I18, D21 Keywords: Tarification à l’activité, Hôpital public, Equilibre budgétaire Handle: RePEc:ies:wpaper:E200807 Template-Type: ReDIF-Paper 1.0 Author-Name: Bruno De Borger Author-X-Name-First: Bruno Author-X-Name-Last: De Borger Author-Workplace-Name: University of Antwerp, Antwerp, Belgium Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Matthias Staat Author-X-Name-First: Matthias Author-X-Name-Last: Staat Author-Workplace-Name: DSC GmbH, Schriesheim, Germany Title: Transit Costs and Cost Efficiency: Bootstrapping Nonparametric Frontiers. Abstract: This paper explores a selection of recently proposed bootstrapping techniques to estimate non-parametric convex (DEA) cost frontiers and efficiency scores for transit firms. Using a sample of Norwegian bus operators, the key results can be summarised as follows: (i) the bias implied by uncorrected cost efficiency measures is numerically important (close to 25%), (ii) the bootstrapped-based test rejects the constant returns to scale hypothesis (iii) explaining patterns of efficiency scores using a two-stage bootstrapping approach detects only one significant covariate, in contrast to earlier results highlighting, e.g., the positive impact of high-powered contract types. Finally, comparing the average inefficiency obtained for the Norwegian data set with an analogous estimate for a smaller French sample illustrates how the estimated differences in average efficiency almost disappear once sample size differences are accounted for. Length: 46 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: Published in Research in Transportation Economics, 23(1), pp. 53-64 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1022636968_2008-ECO-8_DeBorger_Kerstens_Staat.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-08 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E200808 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Email: briec@univ-perp.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Title: The Luenberger Productivity Indicator: An Economic Specifcation Leading to Infeasibilities. Abstract: This contribution points out a minor problem in the specifcation of technology when computing the Luenberger productivity indicator that has been hitherto ignored in the literature. The solution of this problem increases the likelihood that the directional distance functions underlying this productivity indicator are ill-defined. Length: 13 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: Published in Economic Modelling, May 2009, 26(3), pp. 597-600 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1052048028_2008-ECO-9_Briec_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-09 Classification-JEL: C43, D21, D24 Keywords: Luenberger productivity indicator, infeasibility Handle: RePEc:ies:wpaper:E200809 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: The Hicks-Moorsteen Productivity Index Satisfies the Determinateness Axiom. Abstract: There are two total factor productivity indices available in the literature based on a primal notion of the technology. In a ratio tradition, these are the Malmquist and the HicksMoorsteen productivity indices. In a difference perspective, the Luenberger and Luenberger-Hicks-Moorsteen productivity indicators are based upon a sightly different concept. The purpose of this note is to establish that -in contrast to the Malmquist index- the Hicks-Moorsteen type of productivity index (as well as its difference-based counterpart) is well-defined and satisfies the determinateness property, since the underlying distance functions are always feasible. Length: 12 pages Creation-Date: 2008-02 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1052048028_2008-ECO-10_Briec_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-10 Classification-JEL: C43, D21, D24 Keywords: Malmquist productivity index, Hicks-Moorsteen productivity index, determinateness Handle: RePEc:ies:wpaper:E200810 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan, LAMPS Author-Email: briec@univ-perp.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Title: Infeasibility and Directional Distance Functions with Application to the Determinateness of the Luenberger Productivity Indicator Abstract: The purpose of this contribution is to highlight an underexplored property of the directional distance function, a recently introduced generalization of the Shephard distance function. It diagnoses in detail the economic conditions under which infeasibilities may occur for the case of directional distance functions and explores whether there exist any solutions that remedy the problem in an economically meaningful way. This discussion is linked to determinateness as a property in index theory and illustrated by analyzing the Luenberger total factor productivity indicator, based upon directional distance functions. This indicator turns out to be impossible to compute under certain weak conditions. A fortiori, the same problems can also occur for less general productivity indicators and indexes. Length: 48 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: Published in Journal of Optimization Theory and Applications,April 2009, 14(1), pp. 55-73 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-11_Briec_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-11 Classification-JEL: Keywords: Directional distance function, Shortage function, Well-definedness, Infeasibility, Determinateness Handle: RePEc:ies:wpaper:E200811 Template-Type: ReDIF-Paper 1.0 Author-Name: Olivier Brandouy Author-X-Name-First: Olivier Author-X-Name-Last: Brandouy Author-Workplace-Name: CNRS-LEM(UMR 8179),IAE,University of Lille 1 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan, LAMPS Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: HUB University College Brussels Title: Portfolio Performance Gauging in Discrete Time Using a Luenberger Productivity Indicator Abstract: This paper proposes a pragmatic, discrete time indicator to gauge the performance of portfolios over time. Integrating the shortage function (Luenberger, 1995) into a Luenberger portfolio productivity indicator (Chambers, 2002), this study estimates the changes in the relative positions of portfolios with respect to the traditional Markowitz mean-variance efficient frontier, as well as the eventual shifts of this frontier over time. Based on the analysis of local changes relative to these mean-variance and higher moment (in casu, mean-variance-skewness) frontiers, this methodology allows to neatly separate between on the one hand performance changes due to portfolio strategies and on the other hand performance changes due to the market evolution. This methodology is empirically illustrated using a mimicking portfolio approach (Fama and French 1996; 1997) using US monthly data from January 1931 to August 2007. Length: 27 pages Creation-Date: 2008-10 Revision-Date: 2009-10 Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-12_Brandouy_Briec_Kerstens_VDWoestyne.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-12 Classification-JEL: C43, G11 Keywords: shortage function, mean-variance, mean-variance-skewness, efficient portfolios, Luenberger portfolio productivity indicator Handle: RePEc:ies:wpaper:E200812 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Characterizations of the Existence of Nash Equilibria with Non-convex Strategy Sets Abstract: A sufficient and necessary condition is presented for the existence of a Nash equilibrium in n-person noncooperative games in normal form where strategy sets are not necessarily convex. Under the convexity condition, we show that this new sufficient and necessary condition is a particular case of diagonal transfer quasiconcavity. The result is illustrated with an application to an economy with multilateral environmental externalities and to the existence of a Cournot equilibrium. Length: 17 pages Creation-Date: 2008-09 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=505085865_2008-ECO-13_Nessah_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-13 Classification-JEL: Keywords: Noncooperative game, Nash equilibrium, convexity condition Handle: RePEc:ies:wpaper:E200813 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IÉSEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Guoqiang Tian Author-X-Name-First: Guoqiang Author-X-Name-Last: Tian Author-Workplace-Name: Texas A&M University, USA Title: The Existence of Equilibria in Discontinuous and Nonconvex Games Abstract: This paper investigates the existence of pure strategy, dominant-strategy, and mixed strategy Nash equilibria in discontinuous and nonconvex games. We introduce a new notion of very weak continuity, called weak transfer continuity, which holds in a large class of discontinuous economic games and is easy to check. We show that it, together with the compactness of strategy space and the quasiconcavity of payoff functions, permits the existence of pure strategy Nash equilibria. Our equilibrium existence result neither implies nor is implied by the existing results in the literature such as those in Baye et al. [1993] and Reny [1999]. We provide sufficient conditions for weak transfer continuity by introducing notions of weak transfer upper continuity and weak transfer lower continuity. These conditions are satisfied in many economic games and are often quite simple to check. We also introduce the notion of weak dominant transfer upper continuity, and use it to study the existence of dominant strategy equilibria. We then generalize these results and those in Baye et al. [1993] and Reny [1999] without assuming any form of quasi-concavity of payoff functions or convexity of strategy spaces. Length: 34 pages Creation-Date: 2008-11 Revision-Date: 2010-03 Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-14_1_Nessah_Guoqiang.pdf File-Format: Application/pdf File-Function: First version, 2009 File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=230987794_2010-ECO-11_Nessah_Tian.pdf File-Format: Application/pdf File-Function: Revised version, 2010 Number: 2008-ECO-14 Classification-JEL: Keywords: Nash equilibrium, dominant strategy equilibrium, discontinuity, nonquasiconcavity, nonconvexity and mixed strategy Handle: RePEc:ies:wpaper:E200814 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IÉSEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Guoqiang Tian Author-X-Name-First: Guoqiang Author-X-Name-Last: Tian Author-Workplace-Name: Texas A&M University, USA Title: Existence of Equilibrium in Minimax Inequalities, Saddle Points, Fixed Points, and Games without Convexity Sets Abstract: This paper characterizes the existence of equilibria in minimax inequalities without assuming any form of quasi-concavity of functions and convexity or compactness of choice sets. A new condition, called “local dominatedness property”, is shown to be necessary and further, under some mild continuity condition, sufficient for the existence of equilibrium. We then apply the basic result obtained in the paper to generalize the existing theorems on the existence of saddle points, fixed points, and coincidence points without convexity or compactness assumptions. As an application, we also characterize the existence of pure strategy Nash equilibrium in games with discontinuous and nonquasiconcave payoff functions and nonconvex and/or noncompact strategy spaces. Length: 24 pages Creation-Date: 2008-11 Revision-Date: 2010-11 Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=519821983_2008-ECO-15_Nessah_Guoqiang.pdf File-Format: Application/pdf File-Function: First version, 2008 File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=519821983_2008-ECO-15_Nessah_Guoqiang.pdf File-Format: Application/pdf File-Function: Revised version, 2010 Number: 2008-ECO-15 Classification-JEL: Keywords: minimax inequality, saddle points, fixed points, coincidence points, discontinuity, non-quasiconcavity, non-convexity, and non-compactness. Handle: RePEc:ies:wpaper:E200815 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IÉSEG School of Management, (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Chengbin Chu Author-X-Name-First: Chengbin Author-X-Name-Last: Chu Author-Workplace-Name: Laboratoire Génie Industriel, École Centrale Paris Author-Email: chengbin.chu@ecp.fr Title: A Lower Bound for the Weighted Completion Time Variance Problem Abstract: We consider a single machine scheduling problem to minimize the weighted completion time variance. This problem is known to be NP-hard in the strong sense. We propose a lower bound based on splitting of jobs and the Viswanathkumar and Srinivasan procedure and a heuristic. The test on more than 2000 instances shows that this lower bound is very tight. Length: 17 pages Creation-Date: 2008-11 Revision-Date: 2010-05 Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=904328991_2008-ECO-16_Nessah_Chu.pdf File-Format: Application/pdf File-Function: First version, 2008 File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=904328991_2008-ECO-16_Nessah_Chu.pdf File-Format: Application/pdf File-Function: Revised version, 2010-05 Number: 2008-ECO-16 Classification-JEL: Keywords: Scheduling, Single machine, Weighted completion time variance, Lower bound, Heuristic Handle: RePEc:ies:wpaper:E200816 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Amine Mounir Author-X-Name-First: Amine Author-X-Name-Last: Mounir Author-Workplace-Name: Hogeschool Universiteit Brussel, Brussels, Belgium Author-Email: amine.mounir@hubrussel.be Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: Hogeschool Universiteit Brussel, Brussels, Belgium Author-Email: ignace.vandewoestyne@hubrussel.be Title: Geometric Representation of the Mean-Variance-Skewness Portfolio Frontier Based upon the Shortage Function Abstract: The literature suggests that investors prefer portfolios based on mean, variance and skewness rather than portfolios based on mean-variance (MV) criteria solely. Furthermore, a small variety of methods have been proposed to determine mean-variance-skewness (MVS) optimal portfolios. Recently, the shortage function has been introduced as a measure of efficiency, allowing to characterize MVS optimalportfolios using non-parametric mathematical programming tools. While tracing the MV portfolio frontier has become trivial, the geometric representation of the MVS frontier is an open challenge. A hitherto unnoticed advantage of the shortage function is that it allows to geometrically represent the MVS portfolio frontier. The purpose of this contribution is to systematically develop geometric representations of the MVS portfolio frontier using the shortage function and related approaches. Length: 32 pages Creation-Date: 2008-11 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-17_Kerstens_Mounir_VdWoestyne.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-17 Classification-JEL: Keywords: shortage function, efficient frontier, mean-variance-skewness efficiency Handle: RePEc:ies:wpaper:E200817 Template-Type: ReDIF-Paper 1.0 Author-Name: Jens Kjærsgaard Author-X-Name-First: Jens Author-X-Name-Last: Kjærsgaard Author-Workplace-Name: Institute of Food and Resource Economics (FOI), Denmark Author-Name: Niels Vestergaard Author-X-Name-First: Niels Author-X-Name-Last: Vestergaard Author-Workplace-Name: University of Southern Denmark Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Title: Ecological Benchmarking to Explore Alternative Fishing Schemes to Protect Endangered Species by Substitution: The Danish Demersal Fishery in the North Sea Abstract: The cod stock in the North Sea is threatened by overexploitation. To recover this fishing stock, pressure needs to be reduced. This implies that catch compositions with small amounts of cod are preferred by public policy makers. The present analysis assesses the technological efficiency of fishing trips in terms of the substitution possibilities away from cod by considering landings of cod as an undesirable output. A conservative non-parametric frontier technology approach imposing minimal assumptions and based on directional distance functions is applied to explore alternative fishing activities for Danish gill netters operating in the North Sea with the goal of reducing cod catches. Since performance on different fishing trips may be influenced by the operating environment, a four-stage approach is applied to correct for exogenous factors (Fried et al. (1999)). The corrected directional distance function efficiency scores reveal the behavioural inefficiencies, i.e., prospects for decreasing the catch of cod while catch of other species are increased. Length: 32 pages Creation-Date: 2008-06 Revision-Date: Publication-Status: Published online in Environmental and Resource Economics, December 2008 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-18_Kjaersgaard_Vestergaard_Kerstens.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-18 Classification-JEL: C67, Q22 Keywords: Capacity, Directional distance function, Fisheries, Output Substitution Handle: RePEc:ies:wpaper:E200818 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Bouye Ahmed Moulaye Hachem Author-X-Name-First: Bouye Ahmed Moulaye Author-X-Name-Last: Hachem Author-Workplace-Name: LEM-CNRS and IESEG School of Management Author-Email: a.bouye@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: Hogeschool Universiteit Brussel, Brussels, Belgium Author-Name: Niels Vestergaard Author-X-Name-First: Niels Author-X-Name-Last: Vestergaard Author-Workplace-Name: University of Southern Denmark Title: Optimal Capacity Utilization and Reallocation in a German Bank Branch Network: Exploring Some Strategic Scenarios Abstract: Quite a few studies have considered efficiency at the bank branch level by comparing mostly a single branch network, while an abundance of studies have focused on comparing banking institutions. However, to the best of our knowledge no study has ever assessed performance at the level of the branch bank network by looking for ways to reallocate resources such that overall performance improves. Here, we introduce the Johansen-Färe measure of plant capacity of the firm into a multi-output, frontier-based version of the short-run Johansen industry model. The first stage capacity model carefully checks for the impact of the convexity assumption on the estimated capacity utilization results. Policy scenarios considered for the short-run Johansen industry model vary in terms of their tolerance with respect to existing bank branch inefficiencies, the formulation of closure policies, the reallocation of labor in terms of integer units, etc. The application to a network of 142 bank branches of a German savings bank in the year 1998 measures their efficiency and capacity utilization and demonstrate that by this industry model approach one can improve the performance of the whole branch network. Length: 33 pages Creation-Date: 2008-12 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=103380412_2008-ECO-19_Kerstens_Hachem_VdWoestyne_Vestergaard.pdf File-Format: Application/pdf File-Function: First version, 2008 Number: 2008-ECO-19 Classification-JEL: G21, M11 Keywords: Bank Branch Network, Efficiency, Capacity, Reallocation Handle: RePEc:ies:wpaper:E200819 Template-Type: ReDIF-Paper 1.0 Author-Name: Aude Deville Author-X-Name-First: Aude Author-X-Name-Last: Deville Author-Workplace-Name: LEG-FARGO, IAE, University of Bourgogne Author-Email: aude.deville@u-bourgogne.fr Author-Name: Gary D. Ferrier Author-X-Name-First: Gary D. Author-X-Name-Last: Ferrier Author-Workplace-Name: Walton College of Business, University of Arkansas Author-Email: gferrier@walton.uark.edu Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Performance measures for hierarchical organizations: Frontier analysis as a decision support tool Abstract: We extend the standard frontier efficiency models (data envelopment analysis [DEA] and stochastic frontier analysis [SFA]) by allowing the “decision making units” (DMUs) whose performances are assessed to consist of two different levels within hierarchical organizations. Generally, the lower level unit is responsible for “operations;” while higher level units are assumed to make “strategic” decisions. Our primary contribution in this paper is thus to extend the use of frontier efficiency models to assess each level performance with relevant technical and allocative inefficiency measures. We illustrate our approach using DEA applied to data from a sample of 1,585 branches of a major French bank. A second contribution of the paper is to explicitly relate the efficiency to differences in the operating environments and the sizes of the bank branches. We believe that the simple, easy to implement method we introduce can serve as a valuable component of a “balanced score card” approach to benchmarking performance within hierarchical settings such as a banking network. Length: 36 pages Creation-Date: 2009-01 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=132652026_2009-ECO-1_Deville_Ferrier_Leleu.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-01 Classification-JEL: M40, G21, C43 Keywords: Handle: RePEc:ies:wpaper:E200901 Template-Type: ReDIF-Paper 1.0 Author-Name: Stéphane Blancard Author-X-Name-First: Stéphane Author-X-Name-Last: Blancard Author-Workplace-Name: ENESAD, UMR CESAER Author-Email: stephane.blancard@enesad.inra.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3, LEM-CNRS (UMR 8179), IESEG School of Management Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Title: Measuring potential gains from specialization under non-convex technologies Abstract: In this paper, the Free Coordination Hull (FCH) approach developed by Green and Cook (2004) is combined with the Free Disposal Hull (FDH) model to detect potential gains from specialization. As a non-convex approach that allows both directly observed and summed decision making units (DMUs) to define the production technology, FCH is the relevant model for analyzing optimal reapportionment of activity among smaller and more specialized units. Indeed the convexity assumption in more traditional Data Envelopment Analysis (DEA) models precludes the possibility of detecting potential gains from specialization and can only reveal economies of scope. Therefore non-convex technologies are required to model diseconomies of scope. Based on FDH and FCH technologies, an overall efficiency measure is decomposed into three components, namely technical, size and specialization efficiencies. A database of French farms for the year 2003 is used for illustration. Results indicate that input inefficiency in the agricultural sector is driven mainly by lack of specialization, which represents about 50% of overall inefficiency. Length: 16 pages Creation-Date: 2009-03 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=132652026_2009-ECO-2_Blancard_Boussemart_Leleu.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-02 Classification-JEL: Keywords: specialization; free coordination hull; free disposal hull; agriculture Handle: RePEc:ies:wpaper:E200902 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: Hogeschool Universiteit Brussel, Brussels, Belgium Title: Negative Data in DEA: A Simple Proportional Distance Function Approach Abstract: The need to adapt Data Development Analysis (DEA) and other frontier models in the context of negative data has been a rather neglected issue in the literature. Silva Portela, Thanassoulis, and Simpson (2004) proposed a variation on the directional distance function, a very general distance function that is dual to the profit function, to accomodate eventual negative data. In this contribution, we suggest a simple varaiation on the proportional distance funtion that can do the same job. Length: 11 pages Creation-Date: 2009-04 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=135050862_2009-ECO-03_Kerstens_VDWoestyne.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-03 Classification-JEL: Keywords: DEA, negative data, directional distance funtion Handle: RePEc:ies:wpaper:E200903 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: DorESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: La situation des banques est encore périlleuse Abstract: Si la conjoncture mondiale continue à se dégrader, et d’après nos nouvelles estimations, les pertes totales des banques depuis le début de la crise pourraient s’élever à 4508 milliards de dollars sur des actifs originaires des Etats-Unis, et 898 milliards de dollars sur des actifs originaires d’autres parties du monde. Les parts de ces pertes supportées par les banques américaines et européennes s’élèveraient à 2597 et 1322 milliards de dollars respectivement. L’amélioration des résultats des banques américaines au premier trimestre 2009 reflète une augmentation normale de leurs bénéfices opérationnels dans un contexte de financement à bon marché apporté par la Federal Reserve et les pouvoirs publics, une marge d’intermédiation exceptionnellement élevée, une concurrence amoindrie par la restructuration du secteur, et des commissions importantes permises par la reprise du marché des émissions obligataires d’entreprises. Ces résultats bénéficient également de l’assouplissement des normes sur les dépréciations d’actifs et du recours à des artifices comptables. Toutefois, les vrais dangers auxquels les banques restent confrontées subsistent et sont liés aux dépréciations de titres et prêts qu’il faut encore comptabiliser. Beaucoup d’actifs issus de la titrisation de prêts toxiques restent inscrits à des niveaux surévalués et les provisions constituées pour pertes potentielles sur les prêts sont trop basses. Les banques européennes sont quant à elles dans une situation particulièrement difficile du fait de leur exposition conjointe aux actifs toxiques américains et aux prêts à l’Europe de l’Est, ainsi que par des facteurs structurels très désavantageux. Leur taille est souvent disproportionnée par rapport à celle du PIB de leur pays, ce qui les rend globalement difficiles à secourir par les Etats dans un contexte institutionnel complexe qui rend une solution européenne globale incertaine. Leur « leverage ratio » est beaucoup plus élevé que celui des banques américaines. Les banques européennes ont proportionnellement procédé à moins de dépréciations d’actifs dans leur comptes que celles déjà actées par les banques américaines, ce qui leur laisse encore une grande partie des pertes potentielles à déclarer. Length: 20 pages Creation-Date: 2009-03 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=713736420_2009-ECO-04_Dor.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-04 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E200904 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan, LAMPS Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Diego Prior Author-X-Name-First: Diego Author-X-Name-Last: Prior Author-Workplace-Name: Universitat Autònoma de Barcelona, Spain Title: Tangency Capacity Notions Based upon the Pro?t and Cost Functions: A Non-Parametric Approach and a Comparison Abstract: This contribution provides a way to de?ne and compute a tangency notion of economic capacity based upon the relation between the various directional distance functions and the pro?t and cost functions using non-parametric technologies. A new result relating pro?t and cost function-based tangency capacity notions is established. Length: 23 pages Creation-Date: 2009-04 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=14417027_2009-ECO-05_Briec_KK_Prior.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-05 Classification-JEL: C61, D24 Keywords: economic capacity, pro?t function, cost function, directional distance function, tangency Handle: RePEc:ies:wpaper:E200905 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Guoqiang Tian Author-X-Name-First: Guoqiang Author-X-Name-Last: Tian Author-Workplace-Name: Texas A&M University, USA Title: On the Existence of Strong Nash Equilibria Abstract: This paper investigates the existence of strong Nashequilibria (SNE) in continuous and convex games. We show that the concavity and an additional condition on payoff functions, together with the compactness of strategy space, permit the existence of strong Nash equilibria. These conditions are satisfied in many economic games and are quite simple to check. We also characterize the existence of SNE by providing a necessary and sufficient condition. Moreover, we suggest a procedure that can be used to efficiently compute strong Nash equilibrium. The result is illustrated with an application to an economy with multilateral environmental externalities and to the simple oligopoly static model. Length: 24 pages Creation-Date: 2009-04 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=44045475_2009-ECO-06_Nessah_Tian.pdf File-Format: Application/pdf File-Function: First version, 2009 File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=230987888_2010-ECO-12_Nessah_Tian.pdf File-Format: Application/pdf File-Function: Revised version, 2009 Number: 2009-ECO-06 Classification-JEL: Keywords: Non cooperative game, strong Nash equilibrium, weak Pareto-efficiency Handle: RePEc:ies:wpaper:E200906 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan, LAMPS Author-Email: briec@univ-perp.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Name: Nicolas Peypoch Author-X-Name-First: Nicolas Author-X-Name-Last: Peypoch Author-Workplace-Name: University of Perpignan, LAMPS Title: Exact Relations between Four De?nitions of Productivity Indices and Indicators Abstract: Generalizing earlier approximation results, we establish exact relations between the Luenberger productivity indicator and the Malmquist productivity index under rather mild assumptions. Furthermore, we show that similar exact relations can be established between the Luenberger-Hicks-Moorsteen indicator and the Hicks-Moorsteen index. Length: 18 pages Creation-Date: 2009-04 Revision-Date: Publication-Status: File-URL:http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1048811616_2009-ECO-07_Briec_KK_Peypoch.pdf File-Format: Application/pdf File-Function: First version, 2009 Number: 2009-ECO-07 Classification-JEL: C43, D24 Keywords: Malmquist and Hicks-Moorsteen productivity indices, Luenberger and Luenberger Hicks-Moorsteen productivity indicators, approximate relation, exact relation Handle: RePEc:ies:wpaper:E200907 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan, GEREM Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Email: k.kerstens@ieseg.fr Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Title: Portfolio Selection in Multidimensional General and Partial Moment Space. Abstract: This paper develops a general approach for the single period portfolio optimization problem in a multidimensional general and partial moment space. A shortage function is defined that looks for possible increases in odd moments and decreases in even moments. A main result is that this shortage function ensures suffcient conditions for global optimality. It also forms a natural basis for developing tests on the infuence of additional moments. Furthermore, a link is made with an approximation of an arbitrary order of a general indirectutility function. This nonparametric effciency measurement framework permits to dfferentiate mainly between portfolio effciency and allocative effciency. Finally, information can,in principle, be inferred about the revealed risk aversion, prudence, temperance and otherhigher-order risk characteristics of investors. Length: 47 pages Creation-Date: 2009-08 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=999006104_2009-ECO-08_Briec_Kerstens.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2009-ECO-08 Classification-JEL: G11 Keywords: shortage function, efficient frontier, K-moment portfolios Handle: RePEc:ies:wpaper:E200908 Template-Type: ReDIF-Paper 1.0 Author-Name: Gary D. Ferrier Author-X-Name-First: Gary D. Author-X-Name-Last: Ferrier Author-Workplace-Name: Walton College of Business, University of Arkansas Author-Email: gferrier@walton.uark.edu Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: James Moises Author-X-Name-First: James Author-X-Name-Last: Moises Author-Workplace-Name: Department of Emergency Medicine, Tulane University Author-Email: jmoises@tulane.edu Author-Name: Vivian Valdmanis Author-X-Name-First: Vivian Author-X-Name-Last: Valdmanis Author-Workplace-Name: Department of Health Policy and Public Health, University of the Sciences in Philadelphia Author-Email: v.valdma@usp.edu Title: The Size and Service Offering Efficiencies of U.S. Hospitals. Abstract: Hospital productivity has been a research topic for over two decades. We expand on this research to include measures of dis/economies of scope. By using the Free Coordination Hull (FCH) we are able to determine if hospitals in our sample can become more efficient if they provide more services (diseconomies of scope) or if two smaller hospitals with a reallocation of resources could become more efficient (economies of scope). Using data from the American Hospital Association for the years 2004-2007, we found variations among hospital markets (measured by the Core Based Statistical Area). We can determine whether dis/economies of scope exist by comparing the results from two linear programming problems. Focusing on four markets: Los Angeles, Philadelphia, Madison, WI, and New Orleans we found variations in how best these hospitals operating in these markets could change in order to increase both scale and scope efficiencies. This approach could be used by policy makers and managers in order to reduce costs by sharing, reducing, or expanding services in hospitals. Findings from a study such as this should aid reform programs by providing more information on the sources of hospital inefficiency. Length: 27 pages Creation-Date: 2009-09 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=287071275_2009-ECO-09_Ferrier_Leleu_Moises_Valdmanis.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2009-ECO-09 Classification-JEL: Keywords: Hospital, Efficiency, Economies of Scope, Hospital Markets Handle: RePEc:ies:wpaper:E200909 Template-Type: ReDIF-Paper 1.0 Author-Name: Vincent Brousseau Author-X-Name-First: Vincent Author-X-Name-Last: Brousseau Author-Workplace-Name: IESEG School of Management Author-Name: Alexandre Chailloux Author-X-Name-First: Alexandre Author-X-Name-Last: Chailloux Author-Workplace-Name: International Monetary Fund Author-Name: Alain Durré Author-X-Name-First: Alain Author-X-Name-Last: Durré Author-Workplace-Name: IESEG School of Management, LEM-CNRS (UMR 8179) Author-Email: a.durre@ieseg.fr Title: Interbank Offered Rate: Effects of the financial crisis on the information content of the fixing Abstract: With the onset of the financial turmoil in August 2007, pricing references on the money market interest rates have been shocked. The segment of unsecured deposit transactions, which represent the cornerstone of capital markets, and is used as basis for the setting of money market benchmark essential to the indexing of trillions of derivative contracts and loans, has been particularly damaged by the surge in counterparty risk. The lack of confidence between traders and the growing fear of counterparty’s bankruptcies have led progressively to a drying out of the unsecured market turnover. After a relative improvement in early 2008, market activity in the unsecured market has again dried up with the reinforcement of the financial crisis following the collapse of Lehman Brothers. Although there are good reasons to think that the market activity in the cash unsecured segment of the money market has remained distorted, in particular for maturities beyond the very short-term, the OIS-LIBOR spreads have been declining extremely steadily since January 2009, both in major currencies and at various maturities, seemingly pointing to a normalization of the money market. On the basis of a simple econometric supported by statistical evidence applied to the euro area date, this paper analyses whether recent developments in the unsecured interest rates actually support a diagnosis of renewed market activity, and of normalization of the unsecured market. Length: 36 pages Creation-Date: 2009-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=78304999_2009-ECO-10_Brousseau_Chailloux_Durre.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2009-ECO-10 Classification-JEL: G01, G14, C02, C32 Keywords: LIBOR, EURIBOR, secured segment, fixings, market distortions, financial crisis. Handle: RePEc:ies:wpaper:E200910 Template-Type: ReDIF-Paper 1.0 Author-Name: Ruben Chumpitaz Author-X-Name-First: Ruben Author-X-Name-Last: Chumpitaz Author-Workplace-Name: IESEG School of Management, LEM-CNRS (UMR 8179) Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristaan Author-X-Name-Last: Kerstens Author-Email: k.kerstens@ieseg.fr Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Name: Nicholas Paparoidamis Author-X-Name-First: Nicholas Author-X-Name-Last: Paparoidamis Author-Name: Matthias Staat Author-X-Name-First: Matthias Author-X-Name-Last: Staat Author-Workplace-Name: University of Mannheim Title: Comparing Efficiency Across Markets: An Extension and Critique of the Zhang and Bartels (1998) Methodology Abstract: The use of non-parametric frontier methods for the evaluation of product market efficiency in heterogeneous markets seems to have gained some popularity recently. However, the statistical properties of these frontier estimators have been largely ignored. The main point is that nonparametric frontier estimators are biased and that the degree of bias depends on specific sample properties, most importantly sample size and number of dimensions of the model. To investigate the effect of this bias on comparing market efficiency, this contribution estimates the efficiency for several datasets for two main product categories. Following Zhang and Bartels (1998), these results comprise re-estimates for the larger samples limiting their size to that of the smaller samples when the model dimensions for different samples are identical. Furthermore, sample sizes are adjusted to mitigate the eventual differences in dimensions in specification. This allows comparing market efficiency for different markets on a more equal footing, since it reduces the bias effect to a minimum making the comparison of market efficiency possible. However, the article also points out the critical limitations of this Zhang and Bartels (1998) approach in certain respects. Apart from reporting these negative results, we also offer some suggestions for future work. Length: 24 pages Creation-Date: 2010-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=177455078_2010-ECO-01_Chumpitaz_Kerstens_Paparoidamis_Staat.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-01 Classification-JEL: Keywords: Market Efficiency, Heterogeneous Product Markets, Bias, Monte-Carlo Simulation Handle: RePEc:ies:wpaper:E201001 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Precautionary saving in the presence of other risks: further comment Length: 7 pages Creation-Date: 2010-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=135050862_2010-ECO-02_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-02 Classification-JEL: D11,D81 Keywords: precautionary saving; background risk Handle: RePEc:ies:wpaper:E201002 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Oluwaseun Ojo Author-X-Name-First: Oluwaseun Author-X-Name-Last: Ojo Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: o.ojo@ieseg.fr Title: Could Society’s willingness to reduce pesticide use be aligned with Farmers’ economic self-interest? Length: 19 pages Creation-Date: 2010-09 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=225441602_2010-ECO-03_Boussemart_Leleu_Ojo.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-03 Classification-JEL: Keywords: agricultural intensification (AI), agricultural extensification (AE), pesticide reduction, environmental performance, non parametric cost-functions Handle: RePEc:ies:wpaper:E201003 Template-Type: ReDIF-Paper 1.0 Author-Name: Ingrid Bierla Author-X-Name-First: Ingrid Author-X-Name-Last: Bierla Author-Workplace-Name: IESEG School of Management Author-Email: i.richard@ieseg.fr Author-Name: Benjamin Huver Author-X-Name-First: Benjamin Author-X-Name-Last: Huver Author-Workplace-Name: Clersé, Université Lille 1 Author-Name: Sébastien Richard Author-X-Name-First: Sébastien Author-X-Name-Last: Richard Author-Workplace-Name: Clersé, Université Lille 1 Title: Entre santé et contraintes organisationnelles: le rôle du manager Length: 25 pages Creation-Date: 2010-09 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=779908345_2010-ECO-04_Bierla_Huver_Richard.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-04 Classification-JEL: Keywords: absentéisme, exemplarité, managers Handle: RePEc:ies:wpaper:E201004 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Oluwaseun Ojo Author-X-Name-First: Oluwaseun Author-X-Name-Last: Ojo Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: o.ojo@ieseg.fr Title: The spread of pesticide practices among cost efficient farmers Length: 15 pages Creation-Date: 2010-10 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=566670320_2010-ECO-05_Boussemart_Leleu_Ojo.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-05 Classification-JEL: Keywords: pesticide, cost, efficiency, agriculture, environmental performance, Free Disposal Hull Handle: RePEc:ies:wpaper:E201005 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Quels risques pour la dette publique belge? Length: 12 pages Creation-Date: 2010-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=770562346_2010-ECO-06_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-06 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201006 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Title: Absolute Optimal Solution For a Compact and Convex Game Length: 18 pages Creation-Date: 2010-08 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=54246261_2010-ECO-07_Nessah.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-07 Classification-JEL: Keywords: n-Person Game, Multiple objectives Game, Strong Equilibrium, Absolute Optimal Solution Handle: RePEc:ies:wpaper:E201007 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Imed Kacem Author-X-Name-First: Imed Author-X-Name-Last: Imed Kacem Author-Workplace-Name: Université Paul Verlaine, Metz Author-Email: kacem@univ-metz.fr Title: Branch-and-bound method for minimizing the weighted completion time scheduling problem on a single machine with release dates Length: 24 pages Creation-Date: 2009-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=54246261_2010-ECO-08_Nessah_Kacem.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-08 Classification-JEL: Keywords: Scheduling, Single machine, Release dates, Lower bounds, Splitting, Total weighted completion time Handle: RePEc:ies:wpaper:E201008 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Tarik Tazdait Author-X-Name-First: Tarik Author-X-Name-Last: Tazdait Author-Workplace-Name: CNRS-EHESS-CIRED Author-Email: tazdait@centre-cired.fr Title: Quasicontinuity and Nash Equilibrium in Compact and Convex Games Length: 17 pages Creation-Date: 2010-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1007302998_2010-ECO-09_Nessah_PPCB_2011.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-09 Classification-JEL: Keywords: Strong Berge equilibrium, Pareto efficiency, strong Nash equilibrium, KyFan inequality Handle: RePEc:ies:wpaper:E201009 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Guoqiang Tian Author-X-Name-First: Guoqiang Author-X-Name-Last: Tian Author-Workplace-Name: Texas A&M University Title: Existence of Equilibrium in Minimax Inequalities, Saddle, Points, Fixed Points, and Games without Convexity Length: 25 pages Creation-Date: 2010-11 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=230987794_2010-ECO-10_Nessah_Tian.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-10 Classification-JEL: Keywords: minimax inequality, saddle points, fixed points, coincidence points, discontinuity, non-quasiconcavity, non-convexity, and non-compactness Handle: RePEc:ies:wpaper:E201010 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Title: Existence of Equilibria with Non-Ordered Preference Relations Length: 12 pages Creation-Date: 2009-02 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=391134565_2010-ECO-15_Nessah.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-15 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201015 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Author-Name: Moussa Larbani Author-X-Name-First: Moussa Author-X-Name-Last: Larbani Author-Workplace-Name: IIUM University Kuala Lumpur Author-Email: larbani61@hotmail.com Author-Name: Tarik Tazdait Author-X-Name-First: Tarik Author-X-Name-Last: Tazdait Author-Workplace-Name: CNRS-EHESS-CIRED Author-Email: tazdait@centre-cired.fr Title: On Berge Equilibria Length: 21 pages Creation-Date: 2009-10 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=391134565_2010-ECO-16_Nessah.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2010-ECO-16 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201016 Template-Type: ReDIF-Paper 1.0 Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: James Moises Author-X-Name-First: James Author-X-Name-Last: Moises Author-Workplace-Name: Tulane University Author-Email: jmoises@tulane.edu Author-Name: Vivian Valdmanis Author-X-Name-First: Vivian Author-X-Name-Last: Valdmanis Author-Workplace-Name: University of the Sciences in Philadelphia Author-Email: v.valdma@usp.edu Title: Optimal productive size of hospital’s intensive care units Length: 29 pages Creation-Date: 2011-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=402756747_2011-ECO-01_Leleu_Moises_Valdmanis.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-01 Classification-JEL: Keywords: Hospital, Intensive Care Units, Returns to Scale, Optimal Size Handle: RePEc:ies:wpaper:E201101 Template-Type: ReDIF-Paper 1.0 Author-Name: Christian Ben Lakhdar Author-X-Name-First: Christian Author-X-Name-Last: Ben Lakhdar Author-Workplace-Name: LEM (UMR 8179 CNRS) and Université Catholique de Lille (FLSEG) Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Nicolas Gérard Vaillant Author-X-Name-First: Nicolas Gérard Author-X-Name-Last: Vaillant Author-Workplace-Name: LEM (UMR 8179 CNRS) and Université Catholique de Lille (FLSEG) Author-Name: François-Charles Wolff Author-X-Name-First: François-Charles Author-X-Name-Last: Wolff Author-Workplace-Name: LEMNA, Université de Nantes Title: Efficiency of purchasing and selling agents in markets with quality uncertainty: The case of illicit drug transactions Length: 32 pages Creation-Date: 2011-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=402756747_2011-02_Ben_Lakhdar_Leleu_Vaillant_Wolff.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-02 Classification-JEL: D12, I18 Keywords: illicit drug markets, quality uncertainty, efficient transactions Handle: RePEc:ies:wpaper:E201102 Template-Type: ReDIF-Paper 1.0 Author-Name: Rym Ayadi Author-X-Name-First: Rym Author-X-Name-Last: Rym Ayadi Author-Workplace-Name: Centre for European Policy Studies (CEPS) Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: LEM-CNRS (UMR 8179), IESEG School of Management and University of Lille III Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Dhafer Saidane Author-X-Name-First: Dhafer Author-X-Name-Last: Saidane Author-Workplace-Name: LSMRC/SKEMA and EQUIPPE, University of Lille III Title: Mergers & Acquisitions in European Banking Higher productivity or better synergy among business lines? Length: 18 pages Creation-Date: 2010-11 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=356389709_2011-ECO-03_Ayadi_Boussemart_Leleu_Saidane.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-03 Classification-JEL: D24, G21, G34, L25 Keywords: Efficiency, Free Aggregation Hull, Catching-up, Convergence, Mergers & Acquisitions, Banking Industry Handle: RePEc:ies:wpaper:E201103 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Quitter la zone euro: y a-t-il un mode d’emploi? Length: 9 pages Creation-Date: 2011-05 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=620942001_2011-ECO-04_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-04 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201104 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: d.crainich@ieseg.fr Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and CORE (Université Catholique de Louvain) Author-Name: Alain Trannoy Author-X-Name-First: Alain Author-X-Name-Last: Trannoy Author-Workplace-Name: Aix-Marseille School of Economics, EHESS Title: Even (mixed) risk lovers are prudent Length: 10 pages Creation-Date: 2011-10 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=184685369_2011-ECO-05_Crainich_Eeckhoudt_Trannoy.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-05 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201105 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Leaving the euro zone: a user’s guide Length: 12 pages Creation-Date: 2011-10 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1046781054_2011-ECO-06_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-06 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201106 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Les prêts gigantesques de la Bundesbank aux banques centrales des pays en détresse de la zone euro Length: 12 pages Creation-Date: 2011-11 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=303790470_2011-ECO-07_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-07 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201107 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The enormous loans of the Deutsche Bundesbank to distressed European countries’ central banks Length: 12 pages Creation-Date: 2011-11 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=600104396_2011-ECO-08_Dor.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-08 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201108 Template-Type: ReDIF-Paper 1.0 Author-Name: David Berre Author-X-Name-First: David Author-X-Name-Last: Berre Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: d.berre@ieseg.fr Author-Name: Stéphane Blancard Author-X-Name-First: Stéphane Author-X-Name-Last: Blancard Author-Workplace-Name: AGROSUP Dijon, UMR 1041 CESAER Author-Email: stephane.blancard@dijon.inra.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: Université Lille 3 et IESEG School of Management (LEM-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179), IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Emmanuel Tillard Author-X-Name-First: Emmanuel Author-X-Name-Last: Tillard Author-Workplace-Name: UMR SELMET / CIRAD La Réunion Author-Email: tillard@cirad.fr Title: Analyse de l’efficience éco-environnementale des exploitations laitières réunionnaises Abstract: Grâce aux avancées méthodologiques sur la prise en compte des outputs indésirables dans la modélisation des technologies de production, cet article permet d’évaluer l’éco-efficience de 51 exploitations laitières de La Réunion selon le point de vue de trois acteurs : l’éleveur, la coopérative et la société. Si l’analyse retient le scenario désirée par la société comme celui conforme à la plus forte diminution des quantités globales d’outputs indésirables, on constate néanmoins qu’en termes d’indicateurs environnementaux (excèdent azote/litre de lait et gaz a effet de serre émis/litre de lait), le scénario de la coopérative qui vise à maximiser la production laitière aboutit aux mêmes ordres de grandeur. Cependant, l’augmentation des couts suggérée par ce dernier scenario pourrait être un frein a sa mise en œuvre, compte tenu des charges déjà très élevées auxquelles font face les producteurs réunionnais. La vision de l’éleveur souhaitant améliorer sa productivité globale a dotations factorielles constantes apparaît alors comme satisfaisante en permettant une progression assez significative de la production à niveau de gaz à effet de serre (GES) et d’excédents azotés (EA) inchangé. Length: 19 pages Creation-Date: 2011-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=200331736_2011-ECO-09_Berre_e_tal.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2011-ECO-09 Classification-JEL: D57, Q12, Q16, Q51 Keywords: Agriculture, outputs indésirables, fonction distance, Data Envelopment Analysis, gaz à effet de serre, azote Handle: RePEc:ies:wpaper:E201109 Template-Type: ReDIF-Paper 1.0 Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: James Moises Author-X-Name-First: James Author-X-Name-Last: Moises Author-Workplace-Name: Department of Emergency Medicine, Tulane University Author-Email: jmoises@tulane.edu Author-Name: Vivian Valdmanis Author-X-Name-First: Vivian Author-X-Name-Last: Valdmanis Author-Workplace-Name: University of the Sciences in Philadelphia and IESEG School of Management Author-Email: v.valdma@usp.edu Title: How Does Payer Mix and Technical Inefficiency Affect Hospital Net Revenue? Abstract: As changes in the US health care system continue to evolve and change, maintaining the financial viability of hospitals is crucial to the system’s operation. Two lines of inquiry have been pursued in describing factors affecting financial viability. The first line of inquiry relates to the external payer mix of patients focusing on patients who are unable to compensate hospitals for the care received. The second line of inquiry focuses on internal management and because hospitals do not typically answer to shareholders, managers become lax and X-inefficiency may arise. In this paper, we assess both these lines of research in order to determine if payment source by patients and/or managerial efficiency contributes to higher total net revenue. By using a weighted DEA we measured the inefficiency of inputs to the production process on our sample of 144 hospitals operating in Florida during 2005. We used the derived inefficient use of inputs along with the number of days by payer group (Medicare, Medicaid, private insurance, other public insurance, and uncompensated care) in order to explain their effects on total net revenue. To preview our results, we found that the inefficient use of beds and the provision of care to patients who are considered as uncompensated care reduce significantly total net revenue while private pay patients and patients covered by other public insurance add to total net revenue. These findings add to the literature by showing that it is patient payer mix and managerial inefficiency together affect hospital financial viability. We also demonstrate how our findings contribute to current policy debates both on the federal US and the state of Florida level. Length: 11 pages Creation-Date: 2012-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=908566606_2012-01_Leleu.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2012-ECO-01 Classification-JEL: I12, I18, D2, L2 Keywords: Hospital, Net Revenue, Efficiency, Payer, Uncompensated Care Handle: RePEc:ies:wpaper:E201201 Template-Type: ReDIF-Paper 1.0 Author-Name: David Berre Author-X-Name-First: David Author-X-Name-Last: Berre Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and University Lille 1, CIRAD/UMR SELMET Author-Email: d.berre@ieseg.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and University Lille 3 Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Emmanuel Tillard Author-X-Name-First: Emmanuel Author-X-Name-Last: Tillard Author-Workplace-Name: UMR SELMET / CIRAD La Réunion Title: Economic Value of Greenhouse Gases and Nitrogen Surpluses: Society vs Farmers’ Valuation Abstract: Livestock supply must challenge the growth of final demand in the developing countries. This challenge has to take into account its ecological effects since the dairy and livestock sectors are clearly pointed out as human activities which contribute significantly to environmental deterioration. Therefore, livestock activity models have to include desirable and undesirable outputs simultaneously. Using this perspective, we implement a Data Envelopment Analysis model to evaluate shadow prices of outputs under contradictory objectives between the society and the farmers. Our results highlight the current debate about the negative or positive shadow prices of the undesirable outputs in efficiency frameworks. Furthermore, we show that farmers are able to reduce pollution significantly if society accepts to balance farmers’ opportunity cost. Finally, we observe that the initial levels of CO2 tax are in line with farmers’ valuation while the current tax evolution tends to reach the value of pollution targeted by the society Length: 15 pages Creation-Date: 2012-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1064860447_2012-ECO-02_Berre_et_al.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-02 Classification-JEL: Keywords: Agriculture, Data Envelopment Analysis, Environmental Studies Handle: RePEc:ies:wpaper:E201202 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: L’impact de la crise financière sur la dette de la Belgique et le poids très élevé des garanties publiques octroyées Abstract: Depuis 2008, pour sauver différents établissements financiers, les gouvernements fédéral et régionaux de la Belgique on été contraints d’augmenter fortement leur niveau d’endettement, et d’octroyer des garanties dont l’activation impliquerait une augmentation encore bien supérieure de leur dette. Cet article présente un inventaire des différentes mesures de prises de participation et de prêts qui ont déjà augmenté la dette brute, et des octrois de garantie qui pourraient la porter à des sommets qui mettraient en danger la solvabilité de l’Etat. L’article met en exergue l’absence de crédibilité de la garantie des dépôts dans un environnement institutionnel monétaire qui interdit que la banque centrale fiance directement l’Etat. Length: 16 pages Creation-Date: 2012-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=855307016_2012-ECO-03_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-03 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201203 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and University Lille 3 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: A decomposition of profit inefficiency into price expectation error, preferences towards risk and technical inefficiency Abstract: The paper addresses the decomposition of firms’ profit inefficiency (i.e. the difference between the observed profit and the maximal profit that could have been earned) in a context of output price uncertainty. More precisely, we separate this inefficiency into price expectation error, expected profit loss due to risk preference and technical inefficiency. Within this decomposition, the allocative inefficiency is explicitly defined as the result of price expectation error and risk attitude instead of being a residual (as in the traditional profit inefficiency decomposition). Our theoretical model is then implemented in a Data Envelopment Analysis framework which allows the separate estimation of each term of the decomposition. Besides, we offer an operational tool to reveal producers’ risk preferences and to measure their intensity. While the DEA approach is appealing since it imposes very few assumptions on the production set, its main drawback lies in the sensitivity of the measure to outliers. We therefore adapt our model to a robust approach. Length: 19 pages Creation-Date: 2012-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=418308287_2012-ECO-04_Boussemart_etal.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-04 Classification-JEL: D21, D81 Keywords: Profit Inefficiency, Allocative Inefficiency, Technical Inefficiency, Risk Preference, Risk Aversion, Data Envelopment Analysis, Robust DEA Handle: RePEc:ies:wpaper:E201204 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The impact of the financial crisis on the Belgian public debt and the heavy burden of public guarantees Abstract: Since 2008, in order to bail out several financial institutions, the Belgian federal and regional governments have been constrained to substantially increase their indebtedness level. They also had to provide guarantees covering liabilities of these financial institutions. If the payment of these guarantees was required, it would imply a further enormous increase of government debt. This article presents a list of the different State loans or taking of equity stakes, which have already increased the gross public debt, and of the grants of guarantees which could potentially raise this debt to such a high level that it would threaten the solvency of the State. The article also points out the absence of credibility of the deposits guarantee schemes in an institutional environment which prohibits the central bank to directly finance the State. Length: 9 pages Creation-Date: 2012-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1059765486_2012-ECO-05_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-05 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201205 Template-Type: ReDIF-Paper 1.0 Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Inner and Outer Approximations of Technology: A Shadow Profit Approach Abstract: In this paper we extend the taxonomy on inner and outer approximations to a technology by assuming that price data are not available. Mimicking Varian [Econometrica, 52(3) (1984) 579] we introduce a Weak Axiom of Shadow Profit Maximization (WASPM) to test if observed production plans are compatible with technically efficient behavior. If the test fails for an observed sample, we then characterize the maximal subset of observed production plans that meets WASPM and we derive lower and upper bounds on technical efficiency for production plans that are observed but not in this subset. We also derive linear programs to implement these bounds. Length: 10 pages Creation-Date: 2012-04 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=211310324_2012-ECO-06_Leleu.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-06 Classification-JEL: Keywords: Technical efficiency, Shadow prices, Bounds on inefficiency Handle: RePEc:ies:wpaper:E201206 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Peut-on encore relancer la croissance en Europe? Abstract: La stratégie de restauration de la solvabilité des Etats surendettés par une déflation interne accélérée semble être une voie sans issue. Une politique de relance de la croissance est nécessaire. Les perspectives de croissance du reste du monde sont insuffisantes pour relancer la zone euro par ses exportations. Un programme de relance de la demande intérieure en zone euro implique de dénouer la contrainte du financement des Etats. Une solution innovante, moyennant un changement du rôle de la BCE, est proposée. Length: 4 pages Creation-Date: 2012-05 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=1066612559_2012-EOC-07_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-07 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201207 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Quels coûts directs pour la France au cas où la Grèce quitterait la zone euro? Abstract: Une décision de la Grèce de quitter unilatéralement la zone euro aurait des conséquences dont l’ampleur totale est difficile à évaluer en raison des interactions complexes entre tous les acteurs économiques concernés. On peut toutefois déjà mesurer, dans un premier temps, les coûts directs auxquels la France serait exposée, sous un scénario assez réaliste où le retour à une nouvelle monnaie nationale s’accompagnerait d’un défaut de l’état grec sur ses dettes libellées en euros. Length: 5 pages Creation-Date: 2012-06 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=572538898_2012-ECO-08_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-08 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201208 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The cost of a Greek Euro Exit for Spain Abstract: This paper summarizes the main costs of a Greek euro exit for Spain, including its central bank. It is assumed that, after having left the euro, Greece would be compelled to default on any pre-existing sovereign debt denominated in euro. Indeed the new national currency would sharply depreciate. The debts denominated in euro's would thus become enormous once converted into the new currency. It is hard to conceive how the country could pay the service of these debts. Length: 3 pages Creation-Date: 2012-06 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=572538898_2012-ECO-09_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-09 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201209 Template-Type: ReDIF-Paper 1.0 Author-Name: Alain Durré Author-X-Name-First: Alain Author-X-Name-Last: Durré Author-Workplace-Name: IESEG School of Management Author-Email: a.durre@ieseg.fr Author-Name: Philippe Ledent Author-X-Name-First: Philippe Author-X-Name-Last: Ledent Author-Workplace-Name: Economics School of Louvain, Belgium Title: The Two-tier foreign exchange market and the conduct of monetary policy: The Belgian case during Bretton-Woods era Abstract: This paper attempts to better understand the monetary policy decisions under the Belgian two-tier foreign exchange market during the Bretton-Woods system. Whereas this type of market organisation aimed at insulating the domestic currency from (speculative) capital flows, it is questioned whether monetary authorities did (or not) really pay attention to the free market when setting the monetary policy interest rate in practice. Using a Taylor-rule type approach, it is shown that the volatility of the spread between the two segments of the foreign exchange market has played a growing role in the interest rate dynamics over time. Moreover, a Markov switching model applied to the data provides evidence of two separate periods towards the collapse of the Bretton-Woods System, during which the monetary policy concerns have gradually changed. Length: 45 pages Creation-Date: 2012-06 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=235338901_2012-ECO-10_Durre.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-10 Classification-JEL: E42, E58, C32, C24 Keywords: Two-tier market, Taylor rule, Bretton Woods, Markov switching model Handle: RePEc:ies:wpaper:E201210 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: IESEG School of Management Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM (UMR 8179) and IESEG School of Management Author-Name: Oluwaseun Ojo Author-X-Name-First: Oluwaseun Author-X-Name-Last: Ojo Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Title: Exploring cost dominance between high and low pesticide use in French crop farming systems by varying scale and output mix Abstract: Policy makers as well as land users in developed countries are willing to promote new agricultural practices that are more environmentally friendly. This can be possible notably among several others by reducing chemical utilization. For instance in France, the agreement of the “Grenelle de l’environnement” encourages farmers to decrease pesticide use per ha about 50% over a period of ten years. This paper deals with a framework which aims at assessing the cost dominance between technologies that favor less or more pesticide levels per ha. Cost functions are estimated thanks to a non-parametric activity analysis model and a robust approach frontier is introduced in order to lessen the sensitivity of the cost frontier to the influence of potential outliers. With respect to this, two cost functions characterized by a relatively lower or higher pesticide level per ha are compared. Based on a sample of 707 French crop farms observed in year 2008, our simulations clearly show that agricultural practices using less pesticide per ha are more cost competitive than practices using more pesticide without inducing other input substitution costs. In addition, results are differentiated by farm size and types of crop to identify possible scale and output mix effects. They reveal that this cost dominance is a robust phenomenon across size and scope dimensions and economically support more green practices in terms of crop activities. Length: 28 pages Creation-Date: 2012-06 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=231112724_2012-ECO-11_Leleu.pdf File-Format: Application/pdf File-Function: File-URL: File-Format: File-Function: Number: 2012-ECO-11 Classification-JEL: C61, D22, D24, Q12 Keywords: Pesticide Use (PU), Cash crops farming systems, Activity Analysis Model (AAM), Non Parametric Robust Cost Function (NPRCF), Hamming Distance (HD) Handle: RePEc:ies:wpaper:E201211 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Changing causes of the rocketing TARGET2 accounts imbalances in the Eurosytem and the balance of payments of Germany Abstract: To explain the surge of the TARGET2-related claims of the Bundesbank on the Eurosystem, the usual narrative tells that there are huge deposit flights out of the euro zone’s distressed countries’ banks, and that the withdrew funds are being reinvested on deposit accounts in German banks. However, the data of the German balance of payments show that there has not been any significant increase of foreign deposits in German banks since 2008, apart from a slight inflow in 2012. It is however posible to track the evolution of the main driving factors of the surge of The TARGET2-related claims of the Bundesbank on the rest of the Eurosystem Length: 5 pages Creation-Date: 2012-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012-ECO-12_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-12 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201212 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Monetary policy implications of the dependence of long term interest rates on disagreement about macroeconomic forecasts Abstract: Recent studies show that disagreement regarding the future evolution of activity, inflation, or long and short interest rates, significantly forecasts holding excess returns. These studies include the papers of Buraschi and Whelan (2012), Barillas and Nimark (2012), Xiong and Yan (2010), Wu (2009) Such results challenge the common view that, under the expectations hypothesis of the term structure, the excess holding return should be unpredictable. The new evidence thus means that the risk premium is time-varying, moving as a function of disagreement. It is useful to discuss the potential implications of such theoretical results and empirical evidence on related monetary policy issues. Length: 6 pages Creation-Date: 2012-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=808878073_2012-ECO-13_Dor.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-13 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201213 Template-Type: ReDIF-Paper 1.0 Author-Name: Raluca Parvulescu Author-X-Name-First: Raluca Author-X-Name-Last: Parvulescu Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.parvulescu@ieseg.fr Author-Name: Nicolas Vaneecloo Author-X-Name-First: Nicolas Author-X-Name-Last: Vaneecloo Author-Workplace-Name: Clersé, CLERSE/CNRS 8019 Title: Concurrence et expérimentations de marché, un débat clos? Un état des lieux pour un nouveau programme de recherche Abstract: Cet article propose une interprétation des résultats obtenus par les expérimentations sur les marchés à prix affichés à travers une grille de lecture donnée par l’existence ou la non-existence d’un équilibre de Nash dans la structure de marché qui sert de base aux expérimentations. Nous montrons que, d’une part, les premières expérimentations réalisées n’ont pas tenu compte de cette dimension et que, de ce fait, leur pouvoir conclusif en est très diminué. Nous montrons, d’autre part, que les expérimentations ultérieures qui présentent, elles, une analyse formelle de l’existence d’un équilibre de Nash ont été réalisées de manière disparate et que, de ce fait, leurs résultats sont difficilement comparables. Nous concluons cet article en posant quelques jalons pour une recherche future. Length: 35 pages Creation-Date: 2012-09 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=808877992_2012-ECO-14_Parvulescu.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-14 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201214 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Jean-Pierre Butault Author-X-Name-First: Jean-Pierre Author-X-Name-Last: Butault Author-Workplace-Name: INRA Paris and INRA Nancy Author-Name: Oluwaseun Ojo Author-X-Name-First: Oluwaseun Author-X-Name-Last: Ojo Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Title: Generation and distribution of productivity gains in French agriculture. Who are the winners and the losers over the last fifty years? Abstract: This paper offers an approach based on the economic theory of index numbers that revisits the classical surplus accounting technique. We measure the productivity gains and the combined effects of output and input price variation on French farmers’ income between 1959 and 2011, for the whole agricultural sector. During this period, total factor productivity grows at an average annual rate of 1.4% mainly due to a decrease of input quantity over the last thirty years while output volume has stagnated since the end of the nineties. Over the whole period, with a share of nearly 70% of the global surplus, the customers appear as the main beneficiaries of these productivity gains through a decrease in agricultural and food prices. Farmers only retained 23% of the surplus corresponding to a low increase in farm income. Finally, the suppliers and taxpayers are the losers in the surplus distribution via respectively a significant decrease of relative intermediate input prices and a substantial growth of public subsidies in favour of the agricultural sector Length: 15 pages Creation-Date: 2012-09 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=603110719_2012-ECO-15_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-15 Classification-JEL:C43,D24,D33,Q18 Keywords: Index numbers, Total Factor Productivity, Factor income distribution, Agricultural and food policy Handle: RePEc:ies:wpaper:E201215 Template-Type: ReDIF-Paper 1.0 Author-Name: David Berre Author-X-Name-First: David Author-X-Name-Last: Berre Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and University of Lille, CIRAD, UMR SELMET, Lille Author-Email: d.berre@ieseg.fr Author-Name: Jonathan Vayssières Author-X-Name-First: Jonathan Author-X-Name-Last: Vayssières Author-Workplace-Name: CIRAD, UMR SELMET, Dakar, Sénégal Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM-CNRS) Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Name: Emmanuel Tillard Author-X-Name-First: Emmanuel Author-X-Name-Last: Tillard Author-Workplace-Name: CIRAD, UMR SELMET, Saint-Pierre, La Réunion, France Author-Name: Philippe Lecomte Author-X-Name-First: Philippe Author-X-Name-Last: Lecomte Author-Workplace-Name: CIRAD, UMR SELMET, Montpellier Title: Combining farm simulation with frontier efficiency analysis Abstract: The model used, GAMEDE, is a “whole-farm” dynamic model composed of 6 biophysical modules and a management system (Vayssières et al, 2009). This simulation model gives accurate predictions for various sustainability indicators (labor, energy consumption, production, nitrogen leaks to the environment…) to characterize observed or hypothetical farms. As GAMEDE is based on a stock-flow approach, we can monitor the farm stocks (slurry, fodders…) over time. GAMEDE also gives a full description of management operations of the production system. The GAMEDE model is randomly parameterized with the objective to cover the realm of the possible production systems by simulation. Key issues of the methodology are selecting input parameters and defining lower and upper bounds to these parameters. Expert knowledge is very useful to define these bounds. Even though the simulation approach constitutes a relevant tool for describing the production system, it can not provide a full efficiency analysis taking into account multiple input parameters. We suggest combining GAMEDE with “Data Envelopment Analysis” (DEA) to assess the efficiency of a large variety of simulated farms (frontier efficiency analysis). Each farm is characterized by different structural and management inputs parameters, inflows and sustainability indicators (including outflows). The last two types of variables are respectively inputs and outputs used in the DEA model. For inefficient farms, potential efficiency progress is calculated as the distance between these farms and the frontier. The main advantage of our methodology is to benefit of the synergy between simulation and efficiency frontier modelling, as drawback of each method are balanced by the asset of the other method. Length: 11 pages Creation-Date: 2012-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=22346569_2012-ECO-16_Berre_et_al.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-16 Classification-JEL: Keywords: Simulation model, Optimization model, Data Envelopment Analysis, efficiency, dairy farming systems Handle: RePEc:ies:wpaper:E201216 Template-Type: ReDIF-Paper 1.0 Author-Name: Christophe Courbage Author-X-Name-First: Christophe Author-X-Name-Last: Courbage Author-Workplace-Name: The Geneva Association Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Title: More on the optimal demand for long-term care insurance Abstract: The demand for long-term care (LTC) insurance depends – among other things – on the relationship between potential policyholders and their relatives since the latter may informally provide LTC that is otherwise purchased on the market. The combined effects of intra-family moral hazard and altruism on LTC insurance purchase are examined in this paper. First, the interaction between LTC insurance and informal care supply are determined. Then the effects of the policyholders’ wealth, the policyholders’ quality of life and the informal care givers’ quality of life on this interaction are analysed. Finally, the conditions under which a two-sided intra-family moral hazard occurs are investigated. Length: 17 pages Creation-Date: 2012-12 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=22346622_2012-ECO-17_Courbage_Crainich.pdf File-Format: Application/pdf File-Function: Number: 2012-ECO-17 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201217 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Benoît Demil Author-X-Name-First: Benoît Author-X-Name-Last: Demil Author-Workplace-Name: University of Lille 1 (IAE), LEM (UMR 8179) Author-Email: benoit.demil@iae.univ-lille1.fr Author-Name: Aude Deville Author-X-Name-First: Aude Author-X-Name-Last: Deville Author-Workplace-Name: University of Nice Sophia-Antipolis, IAE de Nice, GRM Author-Email: aude.deville@unice.fr Author-Name: Olivier de la Villarmois Author-X-Name-First: Olivier Author-X-Name-Last: de la Villarmois Author-Workplace-Name: University of Lille 1 (IAE), LEM (UMR 8179) Author-Email: olivier.de-la-villarmois@iae.univ-lille1.fr Author-Name: Xavier Lecocq Author-X-Name-First: Xavier Author-X-Name-Last: Lecocq Author-Workplace-Name: University of Lille 1 (IAE) and IÉSEG School of Management, LEM (UMR 8179) Author-Email: xavier.lecocq@iae.univ-lille1.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: A method to analyze profit differential between firms Abstract: A rather simple but crucial question in economics and management is why one firm makes more profit than another. However the answer remains unclear because of the large range of factors that might explain differential profit. In this paper we propose a decomposition of the profit differential between two firms by considering separately volume and price effects. On the volume side, we identify factors related to differences in management efficiency (technical and allocative), dominance of one firm technology over the other (productivity gaps) and size differences. On the price side, price differences among inputs and outputs prices explained by competitive advantages can also explain a big part of the profit gap. Our analysis encompasses a spatial framework where profits of two different firms are compared or a time framework by comparing profits of the same firm at two different dates. We first motivate the decomposition from a theoretical point of view and we next propose a practical and operational measure of each component based on Bennet indices. Profit differences are value measures (in money) which can be split into price and volume effects by economic indices. Individual component of the decomposition are analyzed and computed independently in a bottom-up approach before we finally show that the sum of all components allows recovering the full profit differential between two firms. Length: 20 pages Creation-Date: 2013-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=279518029_2013-ECO-01_Boussemart_et_al.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-01 Classification-JEL: D21, D24 Keywords: Profit, Profit Decomposition, Managerial Efficiency, Size Efficiency, Bennet Index, Price Index Handle: RePEc:ies:wpaper:E201301 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and University of Lille Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Viviane Valdmanis Author-X-Name-First: Viviane Author-X-Name-Last: Valdmanis Author-Workplace-Name: University of the Sciences in Philadelphia Title: Price of Medicaid and Uncompensated Care compared to Medicare and Private care: A translog shadow pricing approach for Floridian hospital outputs Abstract: Since the passage of the Affordable Care Act (ACA) of 2010, issues still remain regarding the mandated purchase of insurance to ensure more universal coverage. One such issue is the pricing of these insurance packages and whether or not the reimbursements will cover necessary services. Therefore, there are policy concerns that increasing the number of insured individuals may not curtail costs. Conversely, providers may not wish to treat patients covered by excessively frugal plans such as Medicaid; hence the tradeoffs between access and cost control. In this paper, we present findings from a cost function and a productivity approach to determine the shadow prices of providing inpatient hospital care for hospitals operating in Florida during 2005. Using these methodological approaches, we are able to use the marginal rate of transformation to determine the relative shadow prices while controlling for hospital technical and allocative inefficiency. By including both reimbursement rates under conditions of hospital efficiency, we can ascertain payment schemes that should, at least in theory, cover necessary costs for patient care without leading to excessive input usage. Length: 18 pages Abstract: Since the passage of the Affordable Care Act (ACA) of 2010, issues still remain regarding the mandated purchase of insurance to ensure more universal coverage. One such issue is the pricing of these insurance packages and whether or not the reimbursements will cover necessary services. Therefore, there are policy concerns that increasing the number of insured individuals may not curtail costs. Conversely, providers may not wish to treat patients covered by excessively frugal plans such as Medicaid; hence the tradeoffs between access and cost control. In this paper, we present findings from a cost function and a productivity approach to determine the shadow prices of providing inpatient hospital care for hospitals operating in Florida during 2005. Using these methodological approaches, we are able to use the marginal rate of transformation to determine the relative shadow prices while controlling for hospital technical and allocative inefficiency. By including both reimbursement rates under conditions of hospital efficiency, we can ascertain payment schemes that should, at least in theory, cover necessary costs for patient care without leading to excessive input usage. Creation-Date: 2013-01 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=898095436_2013-ECO-02_Boussemart_et_al.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-02 Classification-JEL: I11, I12, C54 Keywords: Hospital efficiency, Shadow Prices, Health Production Handle: RePEc:ies:wpaper:E201302 Template-Type: ReDIF-Paper 1.0 Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Duality of Shephard’s weakly disposable technology under a directional output distance function Abstract: In a recent paper Kuosmanen and Matin (2011) have developed a dual formulation of the weakly disposable Kuosmanen’s technology (Kuosmanen, 2005). Their work sheds new light on the economic interpretation of weak disposability and allows estimation of shadow prices for undesirable/bad outputs. More precisely, they have derived the multiplier formulation for the Kuosmanen weakly disposable technology and have found a ‘limited liability condition’ as the economic interpretation of weak disposability. Considering further the traditional Shephard technology, they argued that: “Obviously, the duality theory of linear programming does not apply to the classic Shephard technology because it is generally non-convex. This explains why the dual formulations of the weakly disposable technology are currently unavailable” (p.505). We prove here that by considering a directional output distance function there exists a duality for the Shephard weakly disposable technology. Moreover it turns out with a clear, intuitive and relevant economic interpretation of the weak disposability axiom. Thanks to our dual framework, we finally provide an original proof of the existing relationship between weak disposability and returns to scale. Length: 13 pages Creation-Date: 2013-03 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/bienvenue/DownloadDoc.asp?Fich=439255387_2013-ECO-03_Leleu.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-03 Classification-JEL: D2, D24 Keywords: DEA,Efficiency, Environmental studies,Resource management Handle: RePEc:ies:wpaper:E201303 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: Université de Perpignan Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: Hogeschool Universiteit Brussel Title: Portfolio Selection with Skewness: A Comparison of Methods and a Generalized One Fund Result Abstract: This contribution compares existing and newly developed techniques for geometrically representing mean-variance-skewness portfolio frontiers based on the rather widely adapted methodology of polynomial goal programming (PGP) on the one hand and the more recent approach based on the shortage function on the other hand. Moreover, we explain the working of these different methodologies in detail and provide graphical illustrations in relation to the goal programming literature in operations research. Inspired by these illustrations, we prove two new results: a formal relation between both approaches and a generalization of the well-known one fund separation theorem from traditional mean-variance portfolio theory. Length: 13 pages Creation-Date: 2013-04 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/admin/popup.asp?ref=5175&Fich=746026423_2013-ECO-04-1_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-04 Classification-JEL: G11 Keywords: shortage function, PGP, efficient frontier, mean-variance, mean-variance skewness Handle: RePEc:ies:wpaper:E201304 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The new decrease of interest rates by the ECB will be totally ineffective Abstract: On May 2 the ECB has decreased the interest rate on the main refinancing operations of the Eurosystem by 25 basis points, to 0.50%, starting from the operation to be settled on 8 May 2013. The interest rate on the marginal lending facility will also be decreased by 50 basis points, to 1.00%. This short paper explains the structural reasons why the current monetary policy conducted by the ECB is ineffective. Length: 4 pages Creation-Date: 2013-05 Revision-Date: Publication-Status: File-URL: http://my.ieseg.fr/admin/popup.asp?ref=5175&Fich=424710967_2013-ECO-05_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-05 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201305 Template-Type: ReDIF-Paper 1.0 Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaudr@ieseg.fr Title: The Commission proposal for a European Tobacco Products Directive - A critical evaluation of the Roland Berger studies Abstract: In December 2012, the European Commission published a draft proposal for a revision of the European Tobacco Products Directive. Since then, this proposal has created significant debate fuelled partly by the economic evaluation of the Commission proposal by Roland Berger. This paper analyses the merits of the claims and criticisms voiced in that study. Length: 9 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-06_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-06 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201306 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The launch of the euro brought about an impressive decrease of manufacturing production in France and huge losses of market shares Abstract: Since the launch of the euro, French and German industrial productions have extremely diverged. French manufacturing production decreased while German manufacturing industry very strongly increased. The decrease or stagnation of exports of French products contrasts with the strong increase of German exports. France lost market shares on the foreign markets. This evolution is a direct consequence of the flaws of the monetary union as it has been organized. Also, due to sharp differences in the average degree of sophistication of French products, sharing a common currency with Germany inevitably had to lead to a loss of competitiveness of France on foreign markets. Length: 4 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-07_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-07 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201307 Template-Type: ReDIF-Paper 1.0 Author-Name: Roman Inderst Author-X-Name-First: Roman Author-X-Name-Last: Inderst Author-Workplace-Name: Johann Wolfgang Goethe-Universität, Frankfurt/Main Author-Email: inderst@finance.uni-frankfurt.de Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaud@ieseg.fr Author-Name: Ulrich Schwalbe Author-X-Name-First: Ulrich Author-X-Name-Last: Schwalbe Author-Workplace-Name: Institut für Volkswirtschaftslehre, Universität Hohenheim Author-Email: ulrich.schwalbe@unihohenheim.de Title: Quantifizierung von Schäden durch Wettbewerbsverstöße Abstract: Eine ökonomisch fundierte Quantifizierung von Schäden durch Verstöße gegen das Wettbewerbsrecht hat in den letzten Jahren, vor allem im Zuge der privaten Kartellrechtsdurchsetzung, erheblich an Bedeutung gewonnen. Wenn ein Schaden vor Gericht geltend gemacht und eine Kompensation des entstandenen Schadens eingefordert wird, so ist hierfür die Höhe des erlittenen Schadens zu quantifizieren. Derartige Schadensersatzforderungen werden in jüngster Zeit immer häufiger erhoben und es ist damit zu rechnen, dass sich dieser Trend auch künftig fortsetzen wird. Ziel dieses Beitrages ist es, eine allgemein verständliche Einführung in die ökonomischen Konzepte und Methoden zur Ermittlung und Bewertung von Schäden zu geben, die durch Verletzungen des Wettbewerbsrechts entstanden sind, wobei das europäische sowie das deutsche Wettbewerbsrecht im Vordergrund stehen. Length: 53 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-08_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-08 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201308 Template-Type: ReDIF-Paper 1.0 Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaud@ieseg.fr Author-Name: Ulrich Schwalbe Author-X-Name-First: Ulrich Author-X-Name-Last: Schwalbe Author-Workplace-Name: Institut für Volkswirtschaftslehre, Universität Hohenheim Author-Email: ulrich.schwalbe@unihohenheim.de Title: Quantification of Antitrust Damages Abstract: If a damages claim is presented in court and compensation of harm suffered is sought, quantifying the level of damages suffered becomes necessary. An economically founded quantification of the damages caused by competition law infringements has increased in importance in particular through the advancement of competition law damages actions in the EU. Damages claims are increasingly brought, in particular as follow-on claims, and it is very likely that this trend will continue in the future. If a damages claim is presented in court and compensation of the harm suffered is sought, quantifying the level of the damages suffered becomes necessary. On the basis of these developments several theoretical and applied studies investigating the fundamental economic principles and empirical-econometric methods to determine damages have been presented in the last few years with the aim to provide guidance to the courts on how the quantification of damages should be approached and what aspects have to be taken into consideration. Length: 44 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-09_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-09 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201309 Template-Type: ReDIF-Paper 1.0 Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaud@ieseg.fr Author-Name: Ulrich Schwalbe Author-X-Name-First: Ulrich Author-X-Name-Last: Schwalbe Author-Workplace-Name: Institut für Volkswirtschaftslehre, Universität Hohenheim Author-Email: ulrich.schwalbe@unihohenheim.de Title: Do Retroactive Rebates Imply Lower Prices for Consumers? Abstract:Despite a host of recent cases on both sides of the Atlantic, the antitrust implications of retroactive rebates or loyalty discounts are among the most controversial topics in competition law. One of the key beliefs found in the literature is that such schemes lead to lower prices for consumers and that competition authorities therefore need to be particularly prudent in balancing these “obvious" pro-competitive effects against potential foreclosure concerns. Based on a simple model it is shown that retroactive rebates do not necessarily imply lower prices for consumers and that, on the contrary, even total welfare may decline as a result of the introduction of a rebate scheme. In addition to leading to higher prices, rebate schemes may hurt consumers by inducing them to buy a higher quantity than they otherwise would. The belief that rebates increase consumer welfare as they imply lower prices is shown to be based on the fundamentally awed reliance on the non-rebated base price as appropriate counterfactual. Length: 29 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-10_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-10 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201310 Template-Type: ReDIF-Paper 1.0 Author-Name: Yann Braouezec Author-X-Name-First: Yann Author-X-Name-Last: Braouezec Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: y.braouezec@ieseg.fr Title: The Welfare Effects of Regulating the Number of Market Segments Abstract: We consider a model in which a profit-maximizing organization called the monopolist faces N _ 2 different (micro) market segments while the number k of market segments is chosen the regulator, where k is an integer between 1 and N. Unless k = 1 or k = N, the monopolist's profit maximization is a mixed-integer programming problem, the solution of which is called the optimal profit policy. When demands are linear, we show that it is always worthwhile to regulate the number of market segments since the value of k that maximizes the social welfare under the optimal profit policy is never greater than a critical threshold _k. This result allows us to disentangle the good aspect of price discrimination, the so-called output effect, from the bad one, that we call the pure profit effect. Further results are provided for the specific case of parallel demands. Non-linear demands are also briefly considered. Length: 28 pages Creation-Date: 2013-12 Revision-Date: Publication-Status: File-URL: File-Format: Application/pdf File-Function: Number: 2013-ECO-11 Classification-JEL: C6, D42, L11, L50 Keywords: Economics, pricing, market segmentation, direct price discrimination, regulation Handle: RePEc:ies:wpaper:E201311 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: d.crainich@ieseg.fr Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and and CORE (Université Catholique de Louvain) Author-Name: Olivier Le Courtois Author-X-Name-First: Olivier Author-X-Name-Last: Le Courtois Author-Workplace-Name: EM Lyon Business School Title: An index of (absolute) correlation aversion: theory and some implications Abstract: The concept of absolute risk aversion proposed by K. Arrow (1965) and J. Pratt (1964) and the assumption that it is decreasing in wealth has played a central role in the analysis of risky choices. Ten years later S. Richard (1975) defined correlation aversion in the framework of bivariate utility functions. Surprisingly however the measure of the intensity of correlation aversion has received so far almost no attention. In this paper we define an index of (absolute) correlation aversion and stress some of its properties. Besides we show how the assumption that it is decreasing in wealth generates new results for the analysis of risky choices under bivariate utility. Finally we indicate how these notions can be extended to higher orders of risk attitudes. Length: 8 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-12_Crainich.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-12 Classification-JEL: D81 Keywords: Correlation aversion Handle: RePEc:ies:wpaper:E201312 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and and CORE (Université Catholique de Louvain) Author-Name: James K. Hammitt Author-X-Name-First: James K. Author-X-Name-Last: Hammitt Author-Email: jkh@harvard.edu Author-Workplace-Name: Harvard University (Center for Risk Analysis), Cambridge - Toulouse School of Economics (LERNA-INRA) Title: The Value of Risk Reduction: New Tools for an Old Problem Abstract:The relationship between willingness to pay (WTP) to reduce the probability of an adverse event and the degree of risk aversion is ambiguous. The ambiguity arises because paying for protection worsens the outcome in the event the adverse event occurs, which influences the expected marginal utility of wealth. Using concepts of prudence (equivalently, downside risk aversion), we characterize the marginal WTP to reduce the probability of the adverse event as the product of WTP in the case of risk neutrality and an adjustment factor. For the univariate case (e.g., risk of financial loss), the adjustment factor depends on risk aversion and prudence with respect to wealth. For the bivariate case (e.g., risk of death or illness), the adjustment factor depends on risk aversion and cross-prudence in wealth. Length: 12 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-13_Crainich.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-13 Classification-JEL: D8, I1 Keywords: value per statistical life, mortality risk, risk aversion, prudence Handle: RePEc:ies:wpaper:E201313 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Is Portugal potentially insolvent Abstract: The primary surplus ratio which is required to stabilize the public debt ratio depends on assumptions about the future rate of growth of nominal GDP and implicit interest rates levels. Under the official scenario of a long term nominal growth rate of 4% and an unchanged implicit interest rate of 3.5%, Portugal may even have a small deficit of the primary balance. However, under realistic forecasts of a 2.5% rate of nominal growth, and an implicit interest rate at 4.5%, debt stabilization requires that Portugal has  a huge primary surplus amounting to 3% of nominal GDP . In view of the historical record of an average primary deficit of 1.15% of nominal gdp, it seems to be an extremely difficult objective to reach. Length: 6 pages Creation-Date: 2013-07 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-14_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-14 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201314 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Le Portugal menacé d’insolvabilité Abstract: Le ratio de surplus primaire qui est exigé pour stabiliser le ratio de dette publique dépend du taux de croissance nominal futur du PIB et des taux d’intérêts implicites. Le tableau suivant montre les ratios de surplus primaires qui sont exigés pour le Portugal pour différentes combinaisons de taux de croissance nominale et de taux d’intérêt implicite sur la dette.Avec le scénario officiel, qui est beaucoup trop optimiste,  d’une forte croissance nominale à long terme et d’un taux d’intérêt implicite inchangé sur la dette, le Portugal peut même avoir un très faible déficit primaire du budget. Toutefois, sous des hypothèses réalistes de croissance nominale et taux d’intérêt implicite , stabiliser le ratio de dette exige que le Portugal ait un grand surplus primaire. Pour le scénario officiel qui est beaucoup trop optimiste, le solde primaire du Portugal  devrait être légèrement supérieur à  la moyenne historique. Un tel effort pourrait peut-être être accepté sur une période longue. Toutefois, sous des hypothèses réalistes, le solde primaire du Portugal devrait excéder énormément la moyenne historique. Il est très irréaliste de supposer que cela puisse être accepté politiquement et socialement. Length: 5 pages Creation-Date: 2013-07 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-15_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-15 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201315 Template-Type: ReDIF-Paper 1.0 Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaud@ieseg.fr Title: Towards a European Directive on Damages Actions Abstract: This paper critically reviews the European Commission’s proposed Directive on future rules concerning actions for damages for competition law infringements under national law. It is argued that the proposal underestimates the importance of loss of profits induced by increased prices and does little in ensuring that such effects will receive an equal treatment to price effects in damage claims. The paper suggests that the importance of such effects could have been emphasized by introducing a rebuttable presumption on lucrum cessans based on pass-on considerations – paralleling the presumption on overcharge. Furthermore, the decision to leave questions of causality to national tort laws is criticized as a harmonized regulation of claims based on the merits of the evidence presented would have been a superior tool, in line with a more economic approach and better suited for achieving the goal of compensation for any victim due to its intrinsic flexibility. Finally the notion that legally relevant damages only accrue within a vertical value chain is challenged. Length: 19 pages Creation-Date: 2013-07 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-16_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-16 Classification-JEL: K21, K40, L40 Keywords: quantification of damages, pass-on, passing-on defence, overcharge, unjust enrichment, private enforcement, lucrum cessans, quantity effect, damnum emergens, price effect, burden of proof, standard of proof, tort law, compensation, presumption Handle: RePEc:ies:wpaper:E201316 Template-Type: ReDIF-Paper 1.0 Author-Name: Roman Inderst Author-X-Name-First: Roman Author-X-Name-Last: Inderst Author-Workplace-Name: Johann Wolfgang Goethe-Universität, Frankfurt/Main Author-Name: Frank Maier-Rigaud Author-X-Name-First: Frank Author-X-Name-Last: Maier-Rigaud Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: f.maier-rigaud@ieseg.fr Author-Name: Ulrich Schwalbe Author-X-Name-First: Ulrich Author-X-Name-Last: Schwalbe Author-Workplace-Name: Universität Hohenheim Title: Umbrella Effects Abstract: We analyse the key determinants of umbrella effects, which arise when the price increase or quantity reduction of a cartel diverts demand to substitute products. Umbrella effects arise irrespective of whether non cartelists act as price takers (“competitive fringe”) or respond strategically to the increased demand. Sizable umbrella effects can also arise when non-cartelists are outside the relevant market (in the sense of a SSNIP test), provided that the cartel’s price increase is substantial. Further, a shift of demand to non-cartelists, triggering a price increase, can be induced also when their purchasers themselves benefit from higher demand as rivals purchase from the cartel and pass-on the respective price increase. To identify the actual damage it is thus key to take into account the overall adjustments among cartel members and outsiders as well as their respective, potentially competing purchasers. We also discuss how future analysis of the endogenous formation of cartels with partial market coverage should inform theories of the determinants of umbrella effects. Length: 22 pages Creation-Date: 2013-07 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-17_Maier-Rigaud.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-17 Classification-JEL: K21, L13, L41 Keywords: umbrella effect, partial cartel, pass-on, cartel effect, quantification of damages, merger effects, private enforcement, standing, market definition, cellophane fallacy, antitrust Handle: RePEc:ies:wpaper:E201317 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: A still fragmented Euro Zone. Illustration with a few charts Abstract: The structural heterogeneity of the Euro Zone is well described by the net external financial positions  of the different countries. The countries with the highest external debts are those who were particular ly affected when the sovereign debt crisis started. The announcement by the ECB of the possibility to conduct Outright Monetary Transactions has triggered a sharp decrease of the sovereign spreads of the European distressed countries. However the announcement of the possibility of OMT was not successful to significantly reduce the fragmentation of the financial market of the Euro Zone. There remain large differences between the interest rates at which the companies of the different countries can borrow Length: 5 pages Creation-Date: 2013-09 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-18_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-18 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201318 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: The recapitalization needs of European banks if a new financial crisis occurs Abstract: This paper computes the total recapitalization needs of the banking sector of each European country in case of a new systemic financial crisis. These estimations are based on the estimated capital shortages of big individual banks published by the Volatility Laboratory of New York University Stern Business School and the Center for Risk Management of Lausanne. Length: 11 pages Creation-Date: 2013-10 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-19_Dor.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-19 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201319 Template-Type: ReDIF-Paper 1.0 Author-Name: Rabia Nessah Author-X-Name-First: Rabia Author-X-Name-Last: Nessah Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: r.nessah@ieseg.fr Title: Weakly Continuous Security in Discontinuous and Nonquasiconcave Games: Existence and Characterization Length: 27 pages Creation-Date: 2013-06 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-20_Nessah.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-20 Classification-JEL: C72 Keywords: Discontinuous games, nonquasiconcave games, pure strategy Nash equilibrium, weakly continuous security, pseudo upper semicontinuity, generalized payoff security, weakly reciprocal upper semicontinuity Handle: RePEc:ies:wpaper:E201320 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Email: d.crainich@ieseg.fr Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management (LEM-CNRS) and and CORE (Université Catholique de Louvain) Author-Email: louis.eeckhoudt@fucam.ac.be Author-Name: Olivier Le Courtois Author-X-Name-First: Olivier Author-X-Name-Last: Le Courtois Author-Workplace-Name: EM Lyon Business School Title: Decreasing Downside Risk Aversion and Background Risk Abstract: To analyze the impact of background risks, decreasing absolute risk aversion (DARA) must be combined with other restrictions on the shape of the utility function in order to make preferences risk vulnerable. In this note, we indicate that risk vulnerability can also be associated with the sole assumption of decreasing downside risk aversion (DDRA). That is, no matter how absolute risk aversion changes with wealth, DDDRA in the Arrow-Pratt sense and DDRA in the Ross sense are shown to be respectively necessary and sufficient for a background risk to raise the aversion to other independent risks. Length: 10 pages Creation-Date: 2013-10 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-21_crainich.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-21 Classification-JEL: D81 Keywords: Downside Risk Aversion, Background Risk, Risk Vulnerability Handle: RePEc:ies:wpaper:E201321 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: LAMPS, Université de Perpignan Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: Hogeschool Universiteit Brussel Title: Nonparametric cost and revenue functions under constant economies of scale: An enumeration approach for the single output or input case Abstract: This note shows how the linear programs needed to compute cost and revenue functions under constant returns to scale and a single output or input, respectively, can be replaced with a more efficient enumeration algorithm. A numerical example illustrates this algorithm Length: 11 pages Creation-Date: 2013-07 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2013-ECO-22_kerstens.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-22 Classification-JEL: Keywords: nonparametric cost and revenue functions, enumeration, linear programming Handle: RePEc:ies:wpaper:E201322 Template-Type: ReDIF-Paper 1.0 Author-Name: Yann Braouezec Author-X-Name-First: Yann Author-X-Name-Last: Braouezec Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: y.braouezec@ieseg.fr Title: Public versus Private Insurance System with (and without) Transaction Costs: Optimal Segmentation Policy of an Informed monopolistPublic versus Private Insurance System with (and without) Transaction Costs: Optimal Segmentation Policy of an Informed monopolist Abstract: Computer mediated transactions ([Varian, 2010]) allow insurance companies to customize their contracts while transaction costs limits this tendency toward customization. To capture this, we develop a complete-information framework in which it is costly to design a new market segment when the segmentation policy (number and design of segments) is endogenously chosen. Both the case of a private and a public insurer are considered. Without transaction cost, these two insurance systems are equivalent in terms of social welfare and participation. With transaction costs, this equivalence is not anymore true and the analysis of this difference is the subject of this article. Length: 45 pages Creation-Date: 2015-12 Revision-Date: 2014-05 Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2013-ECO-23-3_Braouezec.pdf File-Format: Application/pdf File-Function: Number: 2013-ECO-23 Classification-JEL: D04, D42, D60 Keywords: Insurance, large economy, participation, direct segmentation, transaction costs, social welfare Handle: RePEc:ies:wpaper:E201323 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: La forte chute des revenus d’intérêts des ménages belges en raison de la gestion de la crise financière Abstract: La BCE a réagi aux étapes successives de la crise financière en diminuant très fortement les taux auxquels elle prête des liquidités aux banques en grandes quantités. Cette politique a a permis aux banques d’absorber plus facilement les pertes qu’elles ont subi sur leurs actifs, mais également d'acheter elles-mêmes des obligations publiques émises par les Etats, et de faciliter le financement de ceux-ci. La baisse des taux directeurs de la BCE a été répercutée sur les taux d’intérêts offerts sur les dépôts bancaires, et sur les autres investissements à revenu fixe. La gestion de la crise financière par les autorités monétaires a donc conduit à une très forte chute des taux d’intérêt sur les dépôts d’épargne en Belgique. Depuis 2008 cette politique a coûté au moins 17 milliards d’€ en perte cumulée de revenus d’intérêt aux ménages belges. La baisse des taux a été très supérieure à celle de l'inflation, et les ménages ont donc subi une forte perte de pouvoir d'achat de leur épargne. Des facteurs structurels à la Belgique viennent encore renforcer cette tendance générale de la zone euro.   Le niveau des taux réels dont bénéficient les épargnants belges est inférieur à celui de tous les grands pays voisins. Length: 9 pages Creation-Date: 2014-01 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2014-EQM-01_Dor.pdf File-Format: Application/pdf File-Function: Number: 2014-EQM-01 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201401 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM-CNRS) Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Edward Mensah Author-X-Name-First: Edward Author-X-Name-Last: Edward Mensah Author-Workplace-Name: University of Illinois at Chicago and IESEG-School of Management Title: Generation and Distribution of Total Factor Productivity Gains in US Industries Abstract: This study estimates productivity gains and their distribution among inputs and outputs for American industries over the period 1987-2011 using the traditional surplus accounting method. Total Factor Productivity (TFP) change is traditionally defined as the growth rate of output minus the growth rate of inputs. Since TFP changes determine welfare via price variations, a key issue is to assess which of the inputs and outputs recover price advantages. Length: 25 pages Creation-Date: 2014-01 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2014-EQM-02_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2014-EQM-02 Classification-JEL: C43, D24, D33 Keywords: Surplus Accounting Method, Total Factor Productivity, Factor Income, Distribution, Index Numbers Handle: RePEc:ies:wpaper:E201402 Template-Type: ReDIF-Paper 1.0 Author-Name: Rolf Färe Author-X-Name-First: Rolf Author-X-Name-Last: Färe Author-Workplace-Name: University of Arkansas Author-Email:gferrier@walton.uark.edu Author-Name: Michael Vardanyan Author-X-Name-First: Michael Author-X-Name-Last: Vardanyan Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: m.vardanyan@ieseg.fr Title: A Note on Parameterizing Input Distance Functions: Does the Choice of a Functional Form Matter? Abstract: We use a Monte Carlo experiment to compare the quadratic and translog functional forms in terms of their ability to approximate known frontiers that possess convex curvature. Unlike some of the existing simulation studies that have studied this topic, we find that both functional forms provide a reliable approximation to a true frontier. Our results lend support to existing explanations concerning the translog form’s innate propensity to yield convex, rather than concave, frontier estimates. Length: 22 pages Creation-Date: 2014-04 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2014-EQM-03_Vardanyan.pdf File-Format: Application/pdf File-Function: Number: 2014-EQM-03 Classification-JEL: D24, C63 Keywords: Distance Functions, Parameterization Handle: RePEc:ies:wpaper:E201403 Template-Type: ReDIF-Paper 1.0 Author-Name: Gary D. Ferrier Author-X-Name-First: Gary D. Author-X-Name-Last: Ferrier Author-Workplace-Name: University of Arkansas Author-Email:gferrier@walton.uark.edu Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Viviane Valdmanis Author-X-Name-First: Viviane Author-X-Name-Last: Valdmanis Author-Workplace-Name: University of the Sciences in Philadelphia and IESEG School of Management Author-Name: Michael Vardanyan Author-X-Name-First: Michael Author-X-Name-Last: Vardanyan Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: m.vardanyan@ieseg.fr Title: A Directional Distance Function Approach to Identifying the Input/Output Status of Medical Residents Abstract: The application of the human capital theory, the production theory, and the comparison of costs between teaching and non-teaching hospitals all point to the difficulties in identifying whether medical residents should be considered as inputs or outputs. We add to the debate by using a data-driven parametric approach based on the directional technology distance function to determine the status of medical residents. Using the American Hospital Association data from 1994 to 2010 we show that residents are inputs in all rural and in public non-teaching hospitals, but outputs in urban-area teaching not-for-profit hospitals. We also demonstrate that the status of residents is related to the case-mix index and that it can sometimes vary with hospital size. Length: 32 pages Creation-Date: 2014-02 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2014-EQM-04_Vardanyan.pdf File-Format: Application/pdf File-Function: Number: 2014-EQM-04 Classification-JEL: C13, D24, I12 Keywords: hospitals, directional distance functions Handle: RePEc:ies:wpaper:E201404 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management (LEM-CNRS) Author-Email: e.dor@ieseg.fr Title: Les coûts et l’impact des plans de secours aux pays en détresse de la périphérie de la zone euro Abstract: L'objectif de cet article est d'analyser le coût et l'impact des programmes conditionnel de secours en faveur de la Grèce, l'Irlande, le Portugal, l'Espagne et Chypre. L'exposition à chaque pays bénéficiaire est répartie entre les différents pays contributeurs. Ensuite, on commente la situation macroéconomique actuelle des pays en faveur desquelles les plans ont été établis. Length: 37 pages Creation-Date: 2014-05 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2014-EQM-05_Dor.pdf File-Format: Application/pdf File-Function: Number: 2014-EQM-05 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201405 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management Author-Email: e.dor@ieseg.fr Title: The exposure of European countries to Greece Abstract: The exposures of all the euro area countries to Greece are computed and detailed. The larger components of these exposures are due to the participation to the different mechanisms of the support programmes, in the form of loans or guarantees. Other components are the implicit shares of the claims of the Eurosystem on Greece or its central bank. They are related to TARGE2 or the securities market programme. Germany has the largest share of this claim accumulation. Length: 9 pages Creation-Date: 2015-01 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2015-EQM-01_Dor.pdf File-Format: Application/pdf File-Function: Number: 2015-EQM-01 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201501 Template-Type: ReDIF-Paper 1.0 Author-Name: Albane Tarnaud Author-X-Name-First: Albane Author-X-Name-Last: Tarnaud Author-Workplace-Name: IESEG School of Management Author-Email:a.tarnaud@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: A DEA-financial technology: prior to portfolio analysis with DEA Abstract: In this paper, we question the definition of a financial technology that results from the application of a traditional methodology with DEA to the analysis of portfolios of financial assets. We acknowledge the previous applications and show how two approaches have been adopted until now in the literature: a ‘DEA-production’ approach inherited from production theory and a ‘DEA-benchmarking’ approach inherited from operational research. We show how these approaches define the technology regarding financial assets; we also identify which underlying criteria are used for input and output selection. As a basis for a new ‘DEA-financial’ approach, we propose to identify a ‘financial production process’ that differs from the traditional risk-return relationship but is rather based on the generation of a distribution of returns by an initial investment. This identification of a financial production process ensures the proper selection of input and output variables and addresses several issues recently raised by Cook, Tone & Zhu (2014). Length: 21 pages Creation-Date: 2015-03 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2015-EQM-02_Tarnaud.pdf File-Format: Application/pdf File-Function: Number: 2015-EQM-02 Classification-JEL: 2 Keywords: Data envelopment analysis; Input; Output; DEA-financial technology; Portfolio Handle: RePEc:ies:wpaper:E201502 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management Author-Email: e.dor@ieseg.fr Title: La viabilité économique de la Catalogne serait-elle assurée comme pays indépendant? Abstract: La question de l’indépendance de la Catalogne est arrivée au premier plan des préoccupations des européennes depuis la victoire électorale des indépendantistes. Beaucoup d’études ont déjà été publiées sur la question de la viabilité économique de la Catalogne comme pays indépendant. Ces études sont toutefois suspectées de comporter quelques biais car elles émanent de spécialistes proches des indépendantistes ou de ceux qui s’y opposent. Avec des données mises à jour cette étude essaie de traiter ces questions d’un point de vue totalement objectif sans intention initiale de prouver une opinion prédéterminée. Length: 18 pages Creation-Date: 2015-10 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2015-EQM-03_Dor.pdf File-Format: Application/pdf File-Function: Number: 2015-EQM-03 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201503 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: University of Perpignan Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Name: Paola Ravelojaona Author-X-Name-First: Paola Author-X-Name-Last: Ravelojaona Author-Workplace-Name: University of Perpignan Title: On Estimating Optimal a-Returns to Scale Abstract: From a theoretical point of view, a-returns to scale is a relevant alternative to traditional Data Envelopment Analysis models for estimating production technologies under global returns to scale assumptions such as strictly increasing or strictly decreasing returns to scale. However, from a methodological and empirical point of view, the estimation of a remains a question that must be answered. This paper proposes an effective methodology to estimate an optimal value of a based upon a goodness-of-fit strategy. A global method using a grid-search is presented first. In addition, for generalized Free Disposal Hull technologies, a minimum extrapolation principle is developed to estimate directly the optimal a-returns from a linear program. This study examined 63 US industries over the period 1987-2012 to demonstrate the relevancy of our approach. Length: 15 pages Creation-Date: 2016-02 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-01_Leleu.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-01 Classification-JEL: D24 Keywords: a-Returns to Scale, Data Envelopment Analysis, Increasing Returns Handle: RePEc:ies:wpaper:E201601 Template-Type: ReDIF-Paper 1.0 Author-Name: David Crainich Author-X-Name-First: David Author-X-Name-Last: Crainich Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: d.crainich@ieseg.fr Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management (LEM 9221-CNRS) Title: Average willingness to pay for disease prevention with personalized health information Abstract: Personal health related information modifies individuals’ willingness to pay for disease programs inasmuch as it allows health status assessment based on intrinsic (instead of average) characteristics. In this paper, we examine the effect that personalized about the baseline probability of disease has on the average willingness to pay programs reducing either the probability of disease (self-protection) or the severity of disease (self-insurance). We show that such an information rises the average willingness to pay for self-protection while it increases the average willingness to pay for self-insurance if health and wealth are complements (i.e. the marginal utility of wealth rises with health). Length: 13 pages Creation-Date: 2016-02 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-02_Crainich.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-02 Classification-JEL: D81,I18 Keywords: Personalized health information; disease prevention; willingness to pay Handle: RePEc:ies:wpaper:E201602 Template-Type: ReDIF-Paper 1.0 Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: IESEG School of Management (LEM 9221-CNRS) Author-Email: z.shen@ieseg.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Aggregate green productivity growth in OECD’s countries Abstract: Most of previous research about Total Factor Productivity (TFP) at the macro level only emphasizes technical effect and technological progress at the country level, but it ignores structural effect for a group of countries at the aggregate level. This paper attempts to measure the green productivity evolution incorporating carbon dioxide emissions based on the Luenberger TFP indicator for a group of 30 OECD countries over the period of 1971-2011. We propose a novel decomposition for green productivity growth at the aggregate level which separates TFP changes into three components: technological progress, technical efficiency change, and structural efficiency change. The structural effect captures the heterogeneity in the combination of input and output mixes among countries that can impact TFP growth at a more aggregate level. In the literature, this effect has not been quantified for a group of nations such as the OECD countries. Our results indicate that the traditional TFP index underestimates green growth which is motivated by the effective and efficient environmental policies of the OECD. The green productivity growth is mainly driven by technology progress which has become a dominant force in the 21st century. Length: 30 pages Creation-Date: 2015-12 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-03_Shen.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-03 Classification-JEL: O44, O47, Q50, D24 Keywords: Undesirable Output; Carbon Dioxide Emissions; Total Factor Productivity; Weak Disposability Handle: RePEc:ies:wpaper:E201603 Template-Type: ReDIF-Paper 1.0 Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: IESEG School of Management (LEM 9221-CNRS) Author-Email: z.shen@ieseg.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Worldwide carbon shadow prices during 1990–2011 Abstract: Unlike most previous research, which has focused on estimating carbon shadow prices at regional or sectoral levels, this paper attempts to estimate carbon shadow prices at a worldwide level. A non-parametric robust framework estimates carbon shadow prices for 119 countries from all continents in 12 large groups. Our empirical results reveal that the global carbon shadow price is increasing by around 2.24% per annum and reached 2845 US dollars per ton in 2011. Regional carbon shadow prices present significant disparities and evolve within different categories over the analyzed period. We find a substantial sigma convergence process of carbon shadow prices among countries during 1990–2007 while divergence appears after the global financial crisis. We then analyze the relationship between carbon shadow prices and the implementation of the Kyoto Protocol. Length: 30 pages Creation-Date: 2016-01 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-04_Shen.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-04 Classification-JEL: D24, Q56 Keywords: Undesirable Output, Carbon Shadow Price, Robust Frontier, Weak Disposability Handle: RePEc:ies:wpaper:E201604 Template-Type: ReDIF-Paper 1.0 Author-Name: Albane Tarnaud Author-X-Name-First: Albane Author-X-Name-Last: Tarnaud Author-Workplace-Name: IESEG School of Management Author-Email: a.tarnaud@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Portfolio analysis with DEA: prior to choosing a model Abstract: This paper examines the definition of a technology and the choice of a model orientation prior to the analysis of portfolios of financial assets with Data Envelopment Analysis. We acknowledge the previous contributions in the field and provide answers to the questions raised in Cook, Tone & Zhu (2014). These answers allow to determine the purpose of the study and to define the underlying ‘financial’ technology through the identification of the decision-making units and the selection of input and output variables in a multi-moment framework. We also show their impact on the traditional set of axioms that further characterizes the technology and propose some adjustments to the traditional models. We provide illustrations to show the effects of such changes on the scores of technical efficiency and ranking of the portfolios. Length: 25 pages Creation-Date: 2016-03 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-05_Tarnaud.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-05 Classification-JEL: Keywords: Data Envelopment Analysis; Portfolio Frontier; Model orientation; Mean-Variance; Risk preferences Handle: RePEc:ies:wpaper:E201605 Template-Type: ReDIF-Paper 1.0 Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Albane Tarnaud Author-X-Name-First: Albane Author-X-Name-Last: Tarnaud Author-Workplace-Name: IESEG School of Management Author-Email: a.tarnaud@ieseg.fr Title: The duality of Shephard’s weakly disposable technology Abstract: A part of the recent literature on the treatment of undesirable outputs by weakly disposable models advocates for the use of the Kuosmanen approach to weak disposability. It defines the minimum extrapolation technology satisfying the disposability assumptions specific to weakly disposable models under three different assumptions on convexity: convexity of the technology set, convexity of output sets only and no convexity at all. We contribute to this taxonomy by adding the case of assuming both input and output sets convex, restoring the classical Shephard approach to weak disposability on the output correspondence. After defining the technology through the definition of a directional distance function, we also linearize the corresponding program and show how the application of duality results in a clear, intuitive, and economically relevant interpretation of the assumption of weak disposability on outputs. Finally, we provide an original proof of the existing relationship between weak disposability and returns to scale. Length: 13 pages Creation-Date: 2016-03 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-06_Tarnaud.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-06 Classification-JEL: Keywords: Undesirable output; weak disposability; duality; convexity; data envelopment analysis Handle: RePEc:ies:wpaper:E201606 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management Author-Email: e.dor@ieseg.fr Title: Are extremely low interest rates really caused by insufficient growth and inflation rather than by ECB policy? Abstract: To fight deflationary pressures in the euro area, the ECB has been conducting exceptional policies, such as negative interest rates on excess reserves of banks on their accounts at the Eurosystem, or massive purchases of assets, essentially public bonds. The interest rate on the main refinancing operations is 0. Targeted long term refinancing operations are going to allow banks to borrow at potentially negative interest rates from the Eurosystem provided that they lend enough to the private sector. All these measures have pushed long term interest rates downward in the euro area. German public bonds yield negative returns for a whole set of maturities. Interest rates on saving accounts in German banks are extremely low. This policy of extremely low rates has been heavily criticized in Germany. The ECB is accused of exaggeratedly lowering the income of savers and retirees whose revenue partly depends on the return of accumulated wealth. Length: 24 pages Creation-Date: 2016-05 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-07_Dor.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-07 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201607 Template-Type: ReDIF-Paper 1.0 Author-Name: Giovanni Cesaroni Author-X-Name-First: Giovanni Author-X-Name-Last: Cesaroni Author-Workplace-Name: Department for local development, Prime Minister’s, Rome, Italy Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Belgium Title: A New Input-Oriented Plant Capacity Notion: Definition and Empirical Comparison Abstract: Starting from the existing output-oriented plant capacity measure, this paper proposes a new inputoriented plant capacity measure. Furthermore, we empirically illustrate both input- and outputoriented utilisation. In particular, we thereby pay attention to the impact of convexity of the technology on both input- and output-oriented plant capacity measures. Length: 24 pages Creation-Date: 2016-09 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-08_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-08 Classification-JEL: Keywords: efficiency; plant capacity utilisation, convexity Handle: RePEc:ies:wpaper:E201608 Template-Type: ReDIF-Paper 1.0 Author-Name: Veerle Hennebel Author-X-Name-First: Veerle Author-X-Name-Last: Hennebel Author-Workplace-Name: KU Leuven Author-Email: veerle.hennebel@kuleuven-kulak.be Author-Name: Richard Simper Author-X-Name-First: Richard Author-X-Name-Last: Simper Author-Workplace-Name: University of Nottingham Author-Email: Richard.Simper@nottingham.ac.uk Author-Name: Marijn Verschelde Author-X-Name-First: Marijn Author-X-Name-Last: Verschelde Author-Workplace-Name: IÉSEG School of Management, LEM (UMR-CNRS 9221) Author-Email: m.verschelde@ieseg.fr Title: Is there a prison size dilemma? An empirical analysis of output-specific economies of scale Abstract: We advocate a nonparametric multi-output framework to estimate output-specific economies of scale and we apply this model to male prisons in England and Wales over the sample period 2009-2012. To estimate output-specific returns to scale in prisons, we consider not only the cost-per-place, but also qualitative outputs such as purposeful out-of-cell activity and successful reintegration. Furthermore, we introduce environmental heterogeneity using the characteristics of the prison(ers). England and Wales offers a unique example to study economies of scale in prisons as the UK has started to build new super-size prisons in order to replace the most outdated prisons. Length: 44 pages Creation-Date: 2016-10 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2016-EQM-09_Verschelde.pdf File-Format: Application/pdf File-Function: Number: 2016-EQM-09 Classification-JEL: Keywords: data envelopment analysis, economies of scale, multi-output production, UK penology Handle: RePEc:ies:wpaper:E201609 Template-Type: ReDIF-Paper 1.0 Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: IESEG School of Management (LEM 9221-CNRS) Author-Email: z.shen@ieseg.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Name: Vivian Valdmanis Author-X-Name-First: Vivian Author-X-Name-Last: Valdmanis Author-Workplace-Name: Western Michigan University and IÉSEG School of Management Title: Performance analysis for three pillars of sustainability Abstract: Gross domestic product (GDP) has come under criticism as the only objective countries’ should pursue for societal well-being. In this paper we apply an innovative Data Envelopment Analysis (DEA) approach for including two other pillars including an environmental dimension, reduction of carbon dioxide (CO2) emissions and a social dimension such as: increasing employment, and expanding healthcare and education expenditures. By linking together three DEA sub-technologies, we model a global technology which combines the objectives of the three pillars. Finally, by weighting each of them by different schemes, we demonstrate the practicality of our approach for policy tradeoffs governments can make among economic, environmental and social objectives. Length: 32 pages Creation-Date: 2017-04 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-01_Shen.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-01 Classification-JEL: Keywords: Three Pillars, Economic Efficiency, Environmental Efficiency, Social Efficiency, Data Envelopment Analysis, Multiple Frontiers Handle: RePEc:ies:wpaper:E201701 Template-Type: ReDIF-Paper 1.0 Author-Name: Tomas Balezentis Author-X-Name-First: Tomas Author-X-Name-Last: Balezentis Author-Workplace-Name: Lithuanian Institute of Agrarian Economics, Lithuania Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: IESEG School of Management (LEM 9221-CNRS) Author-Email: z.shen@ieseg.fr Title: An environmental Luenberger-Hicks-Moorsteen. Total Factor Productivityindicator for OECD Countries Abstract: In this paper, we propose a novel environmental Luenberger-Hicks-Moorsteen (LHM) Total Factor Productivity indicator and its decomposition that incorporates a negative externality into the measurement of economic performance. Special cases of a generalized environmental directional distance function are involved in the definition of this LHM indicator and the proposed decomposition. We suggest applying the weak disposability non-parametric environmental technology to implement the proposed decomposition. This LHM indicator decomposes into the three terms representing technical change, technical inefficiency change, and scale inefficiency change. The changes in the environmental TFP for OECD countries are then estimated by applying the data set covering the years from 1990 to 2014. We then show the differences of the proposed framework for the decomposition of the LHM indicator if opposed to some existing ones. The results suggest the proposed approach diverges from the traditional strong disposability non-parametric approach in terms of the cumulative environmental TFP. Length: 28 pages Creation-Date: 2017-05 Revision-Date: Publication-Status: File-URL: http://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-02_Shen.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-02 Classification-JEL: Keywords: Total Factor Productivity; Environmental TFP; Luenberger-Hicks-Moorsteen indicator; Weak disposability Handle: RePEc:ies:wpaper:E201702 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Belgium Title: How Harmless is Convexification for Nonparametric Cost Function Estimates? Abstract: This contribution focuses on testing the empirical impact of the convexity assumption in estimating costs using nonparametric specifications of technology and cost functions. Apart from reviewing the scant available evidence, the empirical results based on two publicly available data sets reveal the effect of the convexity axiom on cost function estimates: cost estimates based on convex technologies turn out to be on average between 21% and 38% lower than those computed on nonconvex technologies. These differences are statistically significant when comparing kernel densities and can be illustrated using sections of the cost function estimates along some output dimension. Finally, also the characterization of returns to scale and economies of scale using production and cost functions for individual units yields conflicting results for between 19% and 31% of individual observations. The theoretical known potential impact as well as these empirical results should make us reconsider convexity in empirical production analysis: clearly, convexity is not harmless Length: 48 pages Creation-Date: 2017-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-03_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-03 Classification-JEL: D24 Keywords: Economics; Technology; Cost analysis Handle: RePEc:ies:wpaper:E201703 Template-Type: ReDIF-Paper 1.0 Author-Name: Giovanni Cesaroni Author-X-Name-First: Giovanni Author-X-Name-Last: Cesaroni Author-Workplace-Name: Department for local development, Prime Minister’s Office, Rome, Italy Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Belgium Title: Short- and Long-run Plant Capacity Notions: Definitions and Comparison Abstract: Starting from the existing input- and output-oriented plant capacity measures, this contribution proposes new long-run input- and output-oriented plant capacity measures. While the former leave fixed inputs unchanged, the latter allow for changes in all input dimensions to gauge either a maximal plant capacity output or a minimal input combination at which non-zero production starts. We also establish a formal relation between the existing short-run and the new long-run plant capacity measures. Furthermore, for a standard nonparametric frontier technology, all linear programs as well as their variations are specified to compute all efficiency measures defining these short- and long-run plant capacity concepts. Furthermore, it is shown how the new long run plant capacity measures are identical to existing models of a variable returns to scale technology without inputs or without outputs (see Lovell and Pastor (1999)): thus, we offer an interesting production economic justification for these models. Finally, we numerically illustrate this basic relationship between these short-run and long-run technical concepts of capacity utilization Length: 28 pages Creation-Date: 2017-06 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-04_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-04 Classification-JEL: Keywords: efficiency; plant capacity utilisation Handle: RePEc:ies:wpaper:E201704 Template-Type: ReDIF-Paper 1.0 Author-Name: Cinzia Daraio Author-X-Name-First: Cinzia Author-X-Name-Last: Daraio Author-Workplace-Name: DIAG, Sapienza University of Rome, Italy Author-Email: daraio@dis.uniroma1.it Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Thyago Nepomuceno Author-X-Name-First: Thyago Author-X-Name-Last: Nepomuceno Author-Workplace-Name: Universidade Federal de Pernambuco, Recife-PE, Brazil Author-Email: thyago.nepomuceno@ufpe.br Author-Name: Robin C. Sickles Author-X-Name-First: Robin C. Author-X-Name-Last: Sickles Author-Workplace-Name: Economics Department, Rice University, Houston, TX (USA) Author-Email: rsickles@rice.edu Title: Productivity and Efficiency Analysis Software: An Exploratory Bibliographical Survey of the Options Abstract: The software available to implement and carry out efficiency analysis is crucial for the diffusion of efficiency frontier techniques among applied researchers and policy makers. The implementation of up-to-date productivity and efficiency analysis is indeed important to advance our knowledge in many fields, ranging from the public and regulated sectors to the private ones. This contribution fills a gap in the existing literature and surveys the currently available options to estimate a variety of frontier methodologies using either general or dedicated programs. We present a conceptual mapping of the key terms associated to the surveyed software and outline directions for future research Length: 15 pages Creation-Date: 2017-08 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-04_Kerstens-1.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-05 Classification-JEL: Keywords: frontier models, productivity, efficiency, review, software Handle: RePEc:ies:wpaper:E201705 Template-Type: ReDIF-Paper 1.0 Author-Name: Cyprien Dakouo Author-X-Name-First: Cyprien Author-X-Name-Last: Dakouo Author-Workplace-Name: LEM-CNRS 9221 Author-Email: cydauo@sfr.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Title: Comparaison des performances productives entre la zone euro et les autre pays de l'OCDE Abstract: Notre objectif est de comparer la dynamique sur longue période des niveaux de productivité des pays de la zone euro à ceux d’un ensemble de pays dénommé « autres OCDE ». A partir d’une modélisation paramétrique de la frontière de production et de son estimation par la méthode des frontières stochastiques, nous examinons la sigma-convergence de la productivité globale des facteurs des deux zones. Sur le plan empirique, nous examinons entre 1965 et 2015 les évolutions des productivités de 11 pays de la zone euro (Allemagne, Autriche, Belgique, Espagne, Finlande, France, Grèce, Irlande, Italie, Pays-Bas, Portugal) et 11 pays du groupe « autres OCDE » (Australie, Canada, Danemark, Etats-Unis, Islande, Japon, Norvège, Nouvelle-Zélande, Royaume-Uni, Suède, Suisse). Notre analyse permet de mettre en lumière l’existence d’un mouvement de convergence sur le long terme entre les économies développées. Cependant, plus récemment, et au sein de l’espace de l’Union Monétaire Européenne (UME), cette convergence des performances économiques entre les pays membres marque nettement le pas. Si un fort mouvement de convergence préexistait à l’introduction de la monnaie unique, il semble que depuis la création de l’euro, cette dynamique se soit interrompue voire inversée et notamment depuis la crise de 2008-2009. Length: 22 pages Creation-Date: 2017-09 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-06_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-06 Classification-JEL: Keywords: Productivité Globale des Facteurs; convergence/divergence; rattrapage technologique; frontières de production paramétriques stochastiques; zone euro Handle: RePEc:ies:wpaper:E201706 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IESEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IESEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Edward Mensah Author-X-Name-First: Edward Author-X-Name-Last: Mensah Author-Workplace-Name: University of Illinois at Chicago and IÉSEG School of Management Author-Email: dehasnem@uic.edu Author-Name: Karina Shitikova Author-X-Name-First: Karina Author-X-Name-Last: Shitikova Author-Workplace-Name: IÉSEG School of Management (LEM-CNRS 9221) Author-Email: k.shitikova@ieseg.fr Title: Technological catching-up and growth convergence among US industries Abstract: Using a non-parametric programming framework, we analyze input-output ratio convergence and technical efficiency catching-up among 63 North American industries over the period 1987-2014. We first separate efficiency gaps into two components: a technical efficiency effect taking into account industry size heterogeneity and a structural component which highlights the impacts of an input-output deepening or expanding effect on technological transfer over time. Secondly, a panel data analysis is performed to link input and output price evolutions with changes in technical efficiencies and input-output mixes. Results clearly show that convergence is observed for both technical and structural components. The impact of these convergence processes on the US economy is estimated at around 0.64% of additional growth. Moreover, these two convergence processes have positive influence onto final demand prices and profitability but negative impact onto suppliers’ prices while no effect can be established on employees or capital providers’ remunerations. Length: 26 pages Creation-Date: 2017-09 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-07_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-07 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201707 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Jafar Sadeghi Author-X-Name-First: Jafar Author-X-Name-Last: Sadeghi Author-Workplace-Name: CNRS (LEM-UMR 9221) and IÉSEG School of Management Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Belgium Title: Convex and Nonconvex Input-Oriented Technical and Economic Capacity Measures:Technical and Economic Capacity Measures: An Empirical Comparison Abstract: This contribution has two main objectives. First, it aims to compare empirically input- oriented technical and economic capacity notions. Second, it aims to compare these technical and economic capacity notions on both convex and nonconvex technologies. After defining these input-oriented technical and economic capacity notions, this contribution focuses on empirically comparing these different capacity utilization notions using a secondary data set. Anticipating two key empirical conclusions, we find that all these different capacity notions follow different distributions, and also that these distributions almost always differ under convex and nonconvex technologies. Length: 24 pages Creation-Date: 2017-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-08_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-08 Classification-JEL: D24 Keywords: Data Envelopment Analysis; Technology; Cost function; Capacity utilization Handle: RePEc:ies:wpaper:E201708 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IÉSEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IÉSEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: Eximbank, Anhui University of Finance and Economics Author-Email: zhiyang86@163.com Author-Name: Michael Vardanyan Author-X-Name-First: Michael Author-X-Name-Last: Vardanyan Author-Workplace-Name: IÉSEG School of Management (LEM-CNRS - UMR 9221) Author-Email: m.vardanyan@ieseg.fr Author-Name: Ning Zhu Author-X-Name-First: Ning Author-X-Name-Last: Zhu Author-Workplace-Name: South China University of Technology, School of Economics and Commerce Author-Email: ningzhu@scut.edu.cn Title: Decomposing banking performance into economic and risk management efficiencies Abstract: This paper proposes a novel non-parametric approach of a banking production technology that decomposes performance into economic and risk management efficiencies. The basis of our approach is to separate the production technology into two sub-technologies. The former is the production of non-interest income and loans from a set of traditional inputs. The latter is attached to the production of interest income from loans where an explicit distinction between good and non-performing loans is introduced. Economic efficiency comes from the production of good outputs, namely interest and non-interest income, while risk-management efficiency is related to the minimization of the non-performing loans that can be considered as an unintended or bad output. The model is applied to Chinese financial data covering 30 banks from 2005 to 2012 and different scenarios are considered. The results indicate that income could be increased by an average rate of 16% while non-performing loans could be decreased by an average rate of 33%. According to our results, banking managers could strike a balance between economic performance and risk-management and make more appropriate decisions in line with their preferences. Length: 23 pages Creation-Date: 2017-10 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-09_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-09 Classification-JEL: Keywords: Data Envelopment Analysis; Risk management; Economic efficiency; Banking performance; Non-performing loans Handle: RePEc:ies:wpaper:E201709 Template-Type: ReDIF-Paper 1.0 Author-Name: Eric Dor Author-X-Name-First: Eric Author-X-Name-Last: Dor Author-Workplace-Name: IESEG School of Management Author-Email: e.dor@ieseg.fr Title: Comment les statistiques officielles reflètent l’ampleur des mécanismes d’optimisation fiscale dans l’Union Européenne Abstract: Cet article montre que les statistiques macro-économiques officielles reflètent très clairement l’utilisation intensive de différents mécanismes légaux d’optimisation fiscale qui concernent plusieurs pays de l’Union Européenne. Les caractéristiques de certains mécanismes bien connus d’optimisation fiscale sont directement reliées à des indicateurs statistiques bien précis de plusieurs pays. Les données atypiques de certains indicateurs pour plusieurs pays s’expliquent alors clairement par les mécanismes d’optimisation fiscale. Les résultats présentés ici sont complémentaires à d’autres recherches, comme Torslov, Wier et Zucman (2017) ou Zucman (2015). Length: 25 pages Creation-Date: 2017-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-10_Dor.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-10 Classification-JEL: Keywords: Handle: RePEc:ies:wpaper:E201710 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: CNRS-LEM and IESEG School of Management Author-Email: k.kerstens@ieseg.fr Author-Name: Jafar Sadeghi Author-X-Name-First: Jafar Author-X-Name-Last: Sadeghi Author-Workplace-Name: CNRS (LEM-UMR 9221) and IÉSEG School of Management Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Belgium Title: Plant Capacity and Attainability: Exploration and Remedies Abstract: The output-oriented plant capacity notion has been around since more than two decades. It has mainly been applied empirically in the fishery and the hospital sectors. A problem known since its introduction into the literature is that it may not be attainable, in that it presupposes potentially unlimited amounts of variable inputs to determine the maximum of outputs available. This issue of the lack of attainability has never been explored. This paper fills this void both theoretically and empirically. It finds that the attainability may be problematic, and that bounds on the amounts of variable inputs may well need to be imposed. Length: 30 pages Creation-Date: 2017-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-11_Kerstens.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-11 Classification-JEL: D24 Keywords: Technology; Plant Capacity; Attainability Handle: RePEc:ies:wpaper:E201711 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: University of Lille 3 and IÉSEG School of Management (LEM 9221-CNRS) Author-Email: jp.boussemart@ieseg.fr Author-Name: Gary D. Ferrier Author-X-Name-First: Gary D. Author-X-Name-Last: Ferrier Author-Workplace-Name: University of Arkansas Author-Email:gferrier@walton.uark.edu Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: CNRS-LEM 9221 and IÉSEG School of Management Author-Email: h.leleu@ieseg.fr Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: Eximbank, Anhui University of Finance and Economics Author-Email: zhiyang86@163.com Title: An Expanded Decomposition of the Luenberger Productivity Indicator with an Application to the Chinese Healthcare Sector Abstract: Productivity growth is an important determinant of the economic well-being of producers, consumers, and society overall. Given its importance, economists have long measured productivity growth, often decomposing the overall measure into constituent pieces to isolate and better understand the sources of productivity change. Typically, productivity change is analyzed at a single level of analysis—e.g., a firm or a country. The objective of this research is to combine productivity analysis at the “firm-level” and the “industry-level” so that a novel, fuller decomposition of the sources of productivity change can be undertaken. Specifically, our decomposition allows us to capture changes in productivity due to the reallocation of inputs or outputs across productive units. In practice, such reallocation might take place across plants operated by the same firm, across regions within a country, or via mergers and acquisitions. By shedding light on more dimensions of productivity growth, this expanded decomposition may facilitate policy development and other efforts to improve productivity. The expanded decomposition begins with a standard decomposition of the aggregate Luenberger productivity indicator into its technical progress and efficiency change components. The efficiency change component is then further decomposed into technical, mix, and scale efficiency effects. The decomposition yielding the mix and scale efficiency changes uses both aggregated and disaggregated data, which allows for productivity effects of reallocations of inputs and outputs across members of a group to be measured. The new decomposition of the aggregate Luenberger productivity indicator is illustrated using data at both the provincial and regional levels for China’s healthcare sector over the period 2009-2014. Given the rapid growth in the Chinese healthcare sector in recent years and the various healthcare reforms initiated by the government, a deeper understanding of productivity in this traditionally low-productivity sector is warranted. Our results indicate that the growth of the aggregate Luenberger productivity indicator varied across both time and regions; the annual average growth rates were 0.73%, 0.53%, and 0.18% for China’s Central, Eastern, and Western regions, respectively. We find that China’s regional productivity growth in healthcare was primarily driven by technological progress; the contributions of the efficiency related elements of productivity change were smaller and more varied across regions. Length: 33 pages Creation-Date: 2017-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2017-EQM-12_Boussemart.pdf File-Format: Application/pdf File-Function: Number: 2017-EQM-12 Classification-JEL: Keywords: Luenberger Productivity Indicator; Chinese Healthcare; Structural Efficiency; Scale Efficiency; Mix Efficiency Handle: RePEc:ies:wpaper:E201712 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone Moriconi Author-X-Name-First: Simone Author-X-Name-Last: Moriconi Author-Workplace-Name: IÉSEG School of Management Author-Email: s.moriconi@ieseg.fr Author-Name: Giowanni Peri Author-X-Name-First: Giowanni Author-X-Name-Last: Peri Author-Workplace-Name: University of California, Davis Author-Email: Author-Name: Riccardo Turati Author-X-Name-First: Riccardo Author-X-Name-Last: Turati Author-Workplace-Name: IRES, Université Catholique de Louvain Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Skill of the Immigrants and Vote of the Natives: Immigration and Nationalism in European Elections 2007-2016 Abstract: In this paper we document the impact of immigration at the regional level on Europeans’ political preferences as expressed by voting behavior in parliamentary or presidential elections between 2007 and 2016. We combine individual data on party voting with a classification of each party’s political agenda on a scale of their "nationalistic" attitudes over 28 elections across 126 parties in 12 countries. To reduce immigrant selection and omitted variable bias, we use immigrant settlements in 2005 and the skill compo- sition of recent immigrant flows as instruments. OLS and IV estimates show that larger inflows of highly educated immigrants were associated with a change in the vote of citizens away from nationalism. How- ever the inflow of less educated immigrants was positively associated with a vote shift towards nationalist positions. These effects were stronger for non-tertiary educated voters and in response to non-European immigrants. We also show that they are consistent with the impact of immigration on individual political preferences, which we estimate using longitudinal data, and on opinions about immigrants. Conversely, immigration did not affect electoral turnout. Simulations based on the estimated coefficients show that immigration policies balancing the number of high-skilled and low-skilled immigrants from outside the EU would be associated with a shift in votes away from nationalist parties in almost all European regions. Length: 49 pages Creation-Date: 2018-09 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2018/09/2018-EQM-02.pdf File-Format: Application/pdf File-Function: Number: 2018-EQM-02 Classification-JEL: Keywords: Immigration, Nationalism, Elections, Europe Handle: RePEc:ies:wpaper:E201713 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone Moriconi Author-X-Name-First: Simone Author-X-Name-Last: Moriconi Author-Workplace-Name: IÉSEG School of Management Author-Email: s.moriconi@ieseg.fr Author-Name: Giowanni Peri Author-X-Name-First: Giowanni Author-X-Name-Last: Peri Author-Workplace-Name: University of California, Davis Author-Email: Author-Name: Dario Pozzoli Author-X-Name-First: Dario Author-X-Name-Last: Pozzoli Author-Workplace-Name: Copenhagen Business School Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: The Role of Institutions and Immigrant Networks in Firms’ Offshoring Decisions* Abstract: The offshoring of production by multinational firms has expanded dramatically in recent decades, increasing these firms’ potential for economic growth and technological transfers across countries. What determines the location of offshore production? How do countries’ policies and characteristics affect the firm’s decision about where to offshore? Do firms choose specific countries because of their policies or because they know them better? In this paper, we use a very rich dataset on Danish firms to analyze how decisions to offshore production depend on the institutional characteristics of the country and firm-specific bilateral connections. We find that institutions that enhance investor protection and reduce corruption increase the probability that firms offshore there, while those that increase regulation in the labor market decrease such probability. We also show that a firm’s probability of offshoring increases with the share of its employees who are immigrants from that country of origin. Length: 48 pages Creation-Date: 2018-10 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2018/10/2018-EQM-03_Moriconi.pdf File-Format: Application/pdf File-Function: Number: 2018-EQM-03 Classification-JEL: Keywords: Offshoring, Product Market, Labor Regulations, Networks, Fixed start-up Costs Handle: RePEc:ies:wpaper:E201714 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IÉSEG School of Management Author-Email: t.baudin@ieseg.fr Author-Name: Robert Stelter Author-X-Name-First: Robert Author-X-Name-Last: Stelter Author-Workplace-Name: Max Planck Institute for Demographic Research Author-Email: stelter@demogr.mpg.de Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: The rural exodus and the rise of Europe Abstract: To assess the importance of the rural exodus in fostering the transition from stagnation to growth, we propose a unified model of growth and internal migrations. Using an original set of Swedish data, we identify the deep parameters of our model. We show that internal migration conditions had to be favorable enough to authorize an exodus out of the countryside in order to fuel the industrial development of cities. We then compare the respective contribution of shocks on internal migration costs, infant mortality and inequalities in agricultural productivity to the economic take-off and the demographic transition that occurred in Sweden. Negative shocks on labor mobility generate larger delays in the take-off to growth compared to mortality shocks equivalent to the Black Death. Deepening inequalities of productivity in the agricultural sector, like it has been done by enclosure movements, contributes to accelerate urbanization at the cost of depressed economic growth. Length: 82 pages Creation-Date: 2019-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/01/2019-ECO-01_Baudin.pdf File-Format: Application/pdf File-Function: Number: 2019-ECO-01 Classification-JEL: J11, J13, O41 Keywords: Demographic transition, Industrialization, Rural exodus, Mortality differentials, Fertility differentials. Handle: RePEc:ies:wpaper:E201715 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IÉSEG School of Management Author-Email: t.baudin@ieseg.fr Author-Name: David de la Croix Author-X-Name-First: David Author-X-Name-Last: de la Croix Author-Workplace-Name: IRES, Université catholique de Louvain & CEPR, London Author-Email: david.delacroix@uclouvain.be Author-Name: Paula E. Gobbi Author-X-Name-First:Paula Author-X-Name-Last: E. Gobbi Author-Workplace-Name: ECARES, Université libre de Bruxelles & CEPR, London Author-Email: pgobbi@ulb.ac.be Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Childlessness and Economic Development: A Survey Abstract: This paper provides an introduction to the analysis of childlessness, first by describing the stylized facts and the relevant literature, and then by proposing a theoretical framework. We show that both poverty-driven childlessness and opportunity-driven childlessness matter and are essential to a thorough understanding of childlessness as a socioeconomic phenomenon. Length: 37 pages Creation-Date: 2019-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/01/2019-ECO-02_Baudin.pdf File-Format: Application/pdf File-Function: Number: 2019-ECO-02 Classification-JEL: J11; O11; O40 Keywords: Childlessness, fertility, education, marriage, children, sterility, economic development, poverty-driven childlessness, opportunity-driven childlessness, female empowerment, childcare, Malthusian economy, educational homogamy, reproductive health, demographic economics, developed countries, developing countries, historical childlessness, quantity and quality of children, inequality Handle: RePEc:ies:wpaper:E201716 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IÉSEG School of Management Author-Email: t.baudin@ieseg.fr Author-Name: Koyel Sarkar Author-X-Name-First: Koyel Author-X-Name-Last: Sarkar Author-Workplace-Name: Center for Demographic Research, Université Catholique de Louvain Author-Email: koyel.sarkar@uclouvain.be Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Education and Childlessness in India Abstract: In a developing setting like India, women have started their long way to emancipation both at the family and societal levels. In this context, we study what may be perceived as a key sign of emancipation regarding marriage and motherhood: childlessness. Using micro-level regressions, we show that the probability of a woman ending her reproductive life without children exhibits a U-shaped relationship with her educational attainment. This is indicative of the fact that poverty and sterility are not the sole determinants of childlessness, but that better economic opportunities and empowerment within couples also matter. This result is robust to the introduction of important control variables such as the development level of the state where women live, the husband’s education, age at marriage, religion, and caste. India seems to be joining a list of countries where adjustments to childlessness are much more than simple responses to boom-andbust poverty. Length: 58 pages Creation-Date: 2019-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/01/2019-ECO-03_Baudin.pdf File-Format: Application/pdf File-Function: Number: 2019-ECO-03 Classification-JEL: J11; O11; O40 Keywords: : Childlessness, education, poverty, sterility, development Handle: RePEc:ies:wpaper:E201717 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone Moriconi Author-X-Name-First: Simone Author-X-Name-Last: moriconi Author-Workplace-Name: IÉSEG School of Management Author-Email: s.moriconi@ieseg.fr Author-Name: Giovanni Peri Author-X-Name-First: Giovanni Author-X-Name-Last: Peri Author-Workplace-Name: University of California, Davis Author-Email: gperi@ucdavis.edu Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Country-Specific Preferences and Employment Rates in Europe Abstract: European countries exhibit significant differences in employment rates of adult males. Differences in labor-leisure preferences determined by cultural values that vary across countries, can be responsible for part of these differences. However, differences in labor market institutions, productivity, and skills of the labor force are also crucial factors and likely correlated with preferences. In this paper we use variation among first- and second-generation cross-country European migrants to isolate the effect of culturally transmitted labor-leisure preferences on individual employment rates. If migrants maintain some of their country of origin labor-leisure preferences as they move to different labor market conditions, we can separate the impact of preferences from the effect of other factors. We find that country-specific labor-leisure preferences explain about 24% of the top-bottom variation in employment rates across European countries. Length: 47 pages Creation-Date: 2019-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/01/2019-EQM-04_Moriconi.pdf File-Format: Application/pdf File-Function: Number: 2019-EQM-04 Classification-JEL: J22, J61, Z10 Keywords: : : Labor-Leisure Preferences, Cultural Transmission, Employment, Europe, Migrants. Handle: RePEc:ies:wpaper:E201718 Template-Type: ReDIF-Paper 1.0 Author-Name: Elena Cottini Author-X-Name-First: Elena Author-X-Name-Last: Cottini Author-Workplace-Name: Universita' Cattolica di Milano Author-Email: elena.cottini@unicatt.it Author-Name: Paolo Ghinetti Author-X-Name-First: Paolo Author-X-Name-Last: Ghinetti Author-Workplace-Name: Universita' del Piemonte Orientale Author-Email: :paolo.ghinetti@uniupo.it Author-Name: Simone Moriconi Author-X-Name-First:Simone Author-X-Name-Last: Moriconi Author-Workplace-Name: IÉSEG School of Management and LEM-CNRS (UMR 9221) Author-Email: s.moriconi@ieseg.fr. Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Higher Education Supply, Neighbourhood effects and Economic Welfare Abstract: This paper estimates neighbourhood effects in the local provision of higher education, and incorporates them in a welfare analysis of higher education supply. We use an own built dataset on the history of higher education institutions in Italy during 1861-2010 to implement an instrumental variables approach that exploits initial conditions in the pre-unitarian Italian states, interacted with post-unification comprehensive reforms of the university system. We provide robust evidence of local displacement between higher education supply in neighbouring provinces. These effects are mostly concentrated within the same field of study, the same region, and a spatial reach of 90 Km. We show that accounting for these displacement forces is important to evaluate the local economic returns of higher education supply. On average, higher education returns explain more than 4% of local value added per capita. Returns are very localised, and larger in provinces that host university hubs. Length: 54 pages Creation-Date: 2019-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/01/2019-EQM-05-Moriconi.pdf File-Format: Application/pdf File-Function: Number: 2019-EQM-05 Classification-JEL: I23, I28, N00, R1 Keywords: : : neighbourhood effects; higher education supply; historical data; initial conditions; economic welfare. Handle: RePEc:ies:wpaper:E201719 Template-Type: ReDIF-Paper 1.0 Author-Name: Iga Magda Author-X-Name-First: Iga Author-X-Name-Last: Magda Author-Workplace-Name: Warsaw School of Economics; Institute for Structural Research (IBS) Author-Email: iga.magda@ibs.org.pl Author-Name: Jan Gromadzki Author-X-Name-First: Jan Author-X-Name-Last: Gromadzki Author-Workplace-Name: Warsaw School of Economics; Institute for Structural Research (IBS) Author-Email: :jan.gromadzki@ibs.org.pl Author-Name: Simone Moriconi Author-X-Name-First:Simone Author-X-Name-Last: Moriconi Author-Workplace-Name: IÉSEG School of Management and LEM-CNRS (UMR 9221) Author-Email: s.moriconi@ieseg.fr Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Firms and wage inequality in Central and Eastern Europe Abstract: Recent studies show that firms are playing an increasingly important role in shaping wage inequality in advanced economies. We contribute to this literature by analysing wage inequality patterns and their firm dimension in Central and Eastern European countries. We use large, linked employer-employee datasets with data from the 2002-2014 period. We find that unlike in many other advanced economies, wage inequality levels have decreased in CEE countries, and particularly in those countries that previously had the highest wage inequality levels. The relative size of the between-firm component varied substantially across countries, and was largest in countries with the highest wage inequality levels. We further estimate the recentered influence function (RIF) regression and the Blinder-Oaxaca decomposition in order to investigate the micro-level determinants of wage inequality. Our findings indicate that the changes in wage inequality levels were mainly attributable to returns to workplace characteristics. Length: 47 pages Creation-Date: 2019-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2012/03/2019-EQM-06-Moriconi.pdf File-Format: Application/pdf File-Function: Number: 2019-EQM-06 Classification-JEL: D22, J31, J40 Keywords: : : wages, wage inequality, RIF regression, linked employer-employee data Handle: RePEc:ies:wpaper:E201720 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe BOUSSEMART Author-X-Name-First: Jean-Philippe Author-X-Name-Last: BOUSSEMART Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management and LEM-UMR 9221 Author-Email: jp.boussemart@ieseg.fr Author-Name: Raluca PARVULESCU Author-X-Name-First: Raluca Author-X-Name-Last: PARVULESCU Author-Workplace-Name: IESEG School of Management and LEM-CNRS (UMR 9221) Author-Email: :r.parvulescu@ieseg.fr Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Author-Name: Author-X-Name-First: Author-X-Name-Last: Author-Workplace-Name: Author-Email: Title: Agriculture productivity gains and their distribution for the main EU members Abstract: This article seeks to highlight the performance of the farm sector in the main EU countries. Based on the productivity surplus account method (PSAM), our performance analysis includes all elements of the profit and loss account, which is one of the limits of the traditional index number approach. Moreover, this method also shows the way in which productivity gains observed in each country have been distributed among the main stakeholders. A specific focus is on the state’s as well as the farmers’ roles in this distribution game. Length: 25 pages Creation-Date: 2019-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2019/05/2019-EQM-07-PARVULESCU.pdf File-Format: Application/pdf File-Function: Number: 2019-EQM-07 Classification-JEL: D24, N54, O13, Q18 Keywords: : productivity surplus accounting method, total factor productivity, agricultural sector, common agricultural policy Handle: RePEc:ies:wpaper:E201721 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: IESEG School of Management and LEM-UMR 9221 Author-Email: k.kertsens@ieseg.fr Author-Name: Jafar SADEGHI Author-X-Name-First: Jafar Author-X-Name-Last: SADEGHI Author-Workplace-Name: IESEG School of Management and Ivey Business School Author-Email: j.sadeghi1987@gmail.com Author-Name: Ignace VAN DE WOESTYNE Author-X-Name-First:Ignace Author-X-Name-Last: VAN DE WOESTYNE Author-Workplace-Name: KU Leuven Author-Email: ignace.vandewoestyne@kuleuven.be Author-Name: John WALDEN Author-X-Name-First: John Author-X-Name-Last: WALDEN Author-Workplace-Name: NOAA/NMFS Author-Email: john.walden@noaa.gov Title: Short-Run Johansen Frontier-Based Industry Models: Methodological Refinements and Empirical Illustration on Fisheries Abstract: This contribution focuses on extending the current state of the art in the short-run Johansen industry model in two ways. First, instead of only considering output-oriented plant capacity, we allow for alternative plant capacity concepts. In particular, we introduce an input-oriented plant capacity concept, and an alternative attainable outputoriented plant capacity concept that corrects a major empirical issue in the traditional output-oriented plant capacity notion. Second, we correct a long-standing issue of the correct choice of weight variables on the capacity distribution by guaranteeing that these weights determine production combinations that belong to the production technology on which the plant capacity estimates are based in the first place. These double methodological refinements are illustrated with a data set on U.S. fishing vessels by developing a planning model to curb overfishing. Length: 48 pages Creation-Date: 2020-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/06/2020-EQM-01.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-01 Classification-JEL: D24, L52, O21 Keywords: : Technology; Plant Capacity; Attainability; Planning Handle: RePEc:ies:wpaper:E202001 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: IESEG School of Management and LEM-UMR 9221 Author-Email: k.kertsens@ieseg.fr Author-Name: Jafar SADEGHI Author-X-Name-First: Jafar Author-X-Name-Last: SADEGHI Author-Workplace-Name: IESEG School of Management and Ivey Business School Author-Email: j.sadeghi1987@gmail.com Author-Name: Medhi TOLOO Author-X-Name-First:Mehdi Author-X-Name-Last: TOLOO Author-Workplace-Name: VSB-Technical University of Ostrava Author-Email: mehdi.toloo@vsb.cz Author-Name: Ignace VAN DE WOESTYNE Author-X-Name-First:Ignace Author-X-Name-Last: VAN DE WOESTYNE Author-Workplace-Name: KU Leuven Author-Email: ignace.vandewoestyne@kuleuven.be Title: Procedures for Ranking, Technical and Cost Ecient Units: With a Focus on Nonconvexity Abstract: This contribution extends the literature on super-eciency by focusing on ranking cost-efficient observations. To the best of our knowledge, the focus has always been on technical super-efficiency and this focus on ranking cost-efficient observations may well open up a new topic. Furthermore, since the convexity axiom has both an impact on technical and cost eciency, we pay a particular attention on the e ect of nonconvexity on both super-efficiency notions. Apart from a numerical example, we use a secondary data set guaranteeing replication to illustrate these eciency and super-efficiency con- cepts. Two empirical conclusions emerge. First, the cost super-efficiency notion ranks di erently from the technical super-efficiency concept. Second, both cost and technical super-efficiency notions rank di erently under convex and nonconvex technologies. Length: 41 pages Creation-Date: 2020-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/06/2020-EQM-02.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-02 Classification-JEL: D24 Keywords: : Data Envelopment Analysis; Free Disposal Hull; Technical Efficiency; Cost Efficiency; Super-efficiency Handle: RePEc:ies:wpaper:E202002 Template-Type: ReDIF-Paper 1.0 Author-Name: Giovanni CESARONI Author-X-Name-First: Giovanni Author-X-Name-Last: CESARONI Author-Workplace-Name: Department for public administration, Prime Minister’s Office, Rome Author-Email: g.cesaroni@governo.it Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: IESEG School of Management and LEM-UMR 9221 Author-Email: k.kertsens@ieseg.fr Author-Name: Ignace VAN DE WOESTYNE Author-X-Name-First:Ignace Author-X-Name-Last: VAN DE WOESTYNE Author-Workplace-Name: KU Leuven Author-Email: ignace.vandewoestyne@kuleuven.be Title: The Shape of Ray Average Cost and Its Role in Multioutput Scale Economies: Some Generalisations Abstract: Establishing a link between the so-called “neoclassical” and “axiomatic” approaches to production theory, we deal with some central and unresolved issues concerning scale economies in multi-output technologies. First, we reformulate Panzar and Willig’s (1977) result on the duality between primal and dual scale elasticity measures, which helps pointing out the unknown role played in this regard by the monotonicity of the local degree of homogeneity of the technology. Second, under a general representation of a convex technology - allowing for non-differentiability of the cost function and multiple optima - we determine the shape of the ray average cost function. Third, in the same setting, we determine an unambiguous relationship between cost scale elasticity and cost scale efficiency, and therefore between local and global scale economies. Fourth, we develop a complete map of values taken by primal and dual scale elasticities and point out that the equality between returns to scale and scale economies local measures breaks down in a convex technology at points where the cost function is not differentiable. These general results are then applied to simplification and solution of some theoretical and computational problems featured by some important models for the estimation of scale economies, such those of Baumol and Fisher (1978), Färe and Grosskopf (1985) and Sueyoshi (1999). Length: 41 pages Creation-Date: 2020-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/06/2020-EQM-03_2.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-03 Classification-JEL: C61, D24, L25 Keywords: : Returns to scale, Scale economies, Ray average cost Handle: RePEc:ies:wpaper:E202003 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: IESEG School of Management and LEM-UMR 9221 Author-Email: k.kertsens@ieseg.fr Author-Name: Zhiyang SHEN Author-X-Name-First: Zhiyang Author-X-Name-Last: SHEN Author-Workplace-Name: Beijing Institute of Technology, Beijing, China Author-Email: zhiyang86@163.com Title: Using COVD-19 Mortality to Select Among Hospital Plant Capacity Models: An Empirical Application to the Hubei Province Abstract: This contribution defines short-run as well as long-run output- and input-oriented plant capacity measures evaluated relative to convex and nonconvex technologies. All these plant capacity concepts are used to measure the use of existing capacities as well as the evolution and build-up of extra hospital capacity in the province of Hubei in China during the outbreak of the COVID- 19 epidemic in early 2020. The rather well-established fact from the medical literature that mortality rates increase with high capacity utilization rates is used to select the most plausible among these eight plant capacity concepts. It turns out that the relatively new input-oriented plant capacity concept correlates best with mortality. Length: 38 pages Creation-Date: 2020-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/06/2020-EQM-04.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-04 Classification-JEL: Keywords: : Data Envelopment Analysis; Free Disposal Hull; efficiency; plant capacity utilisation; mortality Handle: RePEc:ies:wpaper:E202004 Template-Type: ReDIF-Paper 1.0 Author-Name: Zhiyang SHEN Author-X-Name-First: Zhiyang Author-X-Name-Last: SHEN Author-Workplace-Name: Beijing Institute of Technology, Beijing, China Author-Email: zhiyang86@163.com Author-Name: Michael VARDANYAN Author-X-Name-First: Michael Author-X-Name-Last: VARDANYAN Author-Workplace-Name: IESEG School of Management, Lille, France Author-Email: m.vardanyan@ieseg.fr Author-Name: Tomas BALEZENTIS Author-X-Name-First: Tomas Author-X-Name-Last: BALEZENTIS Author-Workplace-Name: Lithuanian Institute of Agrarian Economics, Vilnius, Lithuania Author-Email: tomas@laei.lt Author-Name: Jianlin WANG Author-X-Name-First: Jianlin Author-X-Name-Last: WANG Author-Workplace-Name: Dongbei University of Finance and Economics, Dalian, China Author-Email: jianlin@dufe.edu.cn Title: Analyzing the Tradeoff between the Economic and Environmental Performance: the Case of Chinese Manufacturing Sector Abstract: The so-called by-production approach, introduced by Murty and Russell (2002) and Murty et al. (2012), has provided researchers with an improved methodology for approximating polluting production technologies. However, since the original by-production model does not impose any relationship between its economic and environmental sub-technologies, it is not capable of addressing the potential tradeoff between the economic and environmental performance. Although this link has been recently proposed in the extensions to the original by-production approach, the tradeoff framework remains ambiguous with respect to the weights to be assigned to the economic and environmental sub-objectives. This paper proposes a novel approach for estimating the green productivity growth in the Chinese manufacturing sector based on the scenario analysis simulating policy preferences. Our model allows us to measure the tradeoff between faster economic growth and better environmental protection, providing policy-makers with insights on how to steer the Chinese industry towards a more environmentally friendly development path in the future. Length: 27 pages Creation-Date: 2020-06 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/06/2020-EQM-05.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-05 Classification-JEL: O47, Q5, O2 Keywords: : Tradeoff analysis; By-production technology; Carbon emissions; Green productivity; Chinese manufacturing. Handle: RePEc:ies:wpaper:E202005 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: IESEG School of Management and LEM-UMR 9221 Author-Email: k.kertsens@ieseg.fr Author-Name: Jafar SADEGHI Author-X-Name-First: Jafar Author-X-Name-Last: SADEGHI Author-Workplace-Name: IESEG School of Management and Ivey Business School Author-Email: j.sadeghi1987@gmail.com Author-Name: Ignace VAN DE WOESTYNE Author-X-Name-First:Ignace Author-X-Name-Last: VAN DE WOESTYNE Author-Workplace-Name: KU Leuven, Research Unit MEES Author-Email: ignace.vandewoestyne@kuleuven.be Author-Name: Linjia ZHANG Author-X-Name-First:Linjia Author-X-Name-Last: ZHANG Author-Workplace-Name: International Business School Suzhou, Xi'an Jiaotong-Liverpool University Author-Email: Linjia.Zhang@xjtlu.edu.cn Title: Malmquist Productivity Indices and Plant Capacity Utilisation: New Proposals and Empirical Application Abstract: The purpose of this contribution is to compute the popular Malmquist productivity index while adding a component representing plant capacity utilisation. In particu- lar, this is –to the best of our knowledge– the ?rst empirical application estimating both input- and output-oriented Malmquist productivity indices in conjunction with the corresponding input- and output-oriented plant capacity utilisation measures. Our empirical application focuses on a provincial data set of tourism activities in China over the period 2008 to 2016. Length: 32 pages Creation-Date: 2020-06 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/09/2020-EQM-06.pdf File-Format: Application/pdf File-Function: Number: 2020-EQM-06 Classification-JEL: C61,GD24 Keywords: : DataGEnvelopmentGAnalysis;GFreeGDisposalGHull;GMalmquistGProductivityGIndex;GDecomposition;GPlantGCapacity Handle: RePEc:ies:wpaper:E202006 Template-Type: ReDIF-Paper 1.0 Author-Name: Loic BERGER Author-X-Name-First: Loic Author-X-Name-Last: BERGER Author-Workplace-Name: CNRS, IESEG School of Management, University of Lille, UMR 9221 -LEM, 59000 Lille, France; RFF-CMCC European Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, 20123 Milan, Italy Author-Email: l.berger@ieseg.fr Author-Name: Nicolas BERGER Author-X-Name-First: Nicolas Author-X-Name-Last: BERGER Author-Workplace-Name: Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, WC1H 9SH, London, UK; Sciensano (Belgian Scientific Institute of Public Health), 1050 Brussels, Belgium Author-Email: Nicolas.Berger@lshtm.ac.uk Author-Name: Valentina BOSETTI Author-X-Name-First: Valentina Author-X-Name-Last: BOSETTI Author-Workplace-Name: RFF-CMCC European Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, 20123 Milan, Italy; Department of Economics and IGIER, Bocconi University, 20136 Milan, Italy Author-Email:valentina.bosetti@unibocconi.it Author-Name: Itzhak GILBOA Author-X-Name-First: Itzhak Author-X-Name-Last: GILBOA Author-Workplace-Name: HEC, Paris-Saclay, 78350 Jouy-en-Josas, France; Eitan Berglas School of Economics, Tel Aviv University, Tel Aviv 69978, Israel Author-Email: gilboa@hec.fr Author-Name: Lars Peter HANSEN Author-X-Name-First: Lars Peter Author-X-Name-Last: HANSEN Author-Workplace-Name: Department of Economics, University of Chicago, Chicago, IL 60637; Department of Statistics, University of Chicago, Chicago, IL 60637; Booth School of Business, University of Chicago, Chicago, IL 60637 Author-Email: lhansen@uchicago.edu Author-Name: Christopher JARVIS Author-X-Name-First: Christopher Author-X-Name-Last: JARVIS Author-Workplace-Name: Department of Infectious Disease Epidemiology, London School of Hygiene & Tropical Medicine, WC1E 7HT, London, UK Author-Email: Christopher.Jarvis@lshtm.ac.uk Author-Name: Massimo MARINACCI Author-X-Name-First: Massimo Author-X-Name-Last: MARINACCI Author-Workplace-Name: Department of Decision Sciences and IGIER, Universita Bocconi, 20136 Milan, Italy Author-Email: massimo.marinacci@unibocconi.it Author-Name: Richard D. Smith Author-X-Name-First: Richard D. Author-X-Name-Last: SMITH Author-Workplace-Name: Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, WC1H 9SH, London, UK; College of Medicine and Health, University of Exeter, Exeter, EX1 2LU, UK Author-Email: rich.smith@exeter.ac.uk Title: Rational policymaking during a pandemic Abstract: Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions are taken in a highly uncertain, complex, and rapidly changing environment. In such a context, in which human lives and the economy are at stake, we argue that using ideas and constructs from modern decision theory, even informally, will make policymaking a more responsible and transparent process. Length: 29 pages Creation-Date: 2020-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2020/11/2020-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2020-iRisk-01 Classification-JEL: D81, I18 Keywords: model uncertainty, ambiguity, robustness, decision rules Handle: RePEc:ies:wpaper:E202008 Template-Type: ReDIF-Paper 1.0 Author-Name: Walter Briec Author-X-Name-First: Walter Author-X-Name-Last: Briec Author-Workplace-Name: Universite de Perpignan, LAMPS, 52 Avenue Villeneuve, F-66000 Perpignan, France Author-Email: briec@univ-perp.fr Author-Name: Audrey Dumas Author-X-Name-First: Audrey Author-X-Name-Last: Dumas Author-Workplace-Name: Universite de Perpignan, CDED, 52 Avenue Villeneuve, F-66000 Perpignan, France Author-Email: audrey.dumas@univ-perp.fr Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: IESEG School of Management, CNRS, Univ. Lille, UMR 9221-LEM, 3 rue de la Digue, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Agathe Stenger Author-X-Name-First: Agathe Author-X-Name-Last: Stenger Author-Workplace-Name: Universite de Perpignan, CDED, 52 avenue de Villeneuve, F-66000 Perpignan, France Author-Email: agathestenger@hotmail.fr Title: Generalised Commensurability Properties of Efficiency Measures: Implications for Productivity Indicators Abstract: We analyse the role of new weak and strong commensurability conditions on efficiency measures and especially on productivity measurement. If strong commensurability fails, then a productivity index (indicator) may exhibit a homogeneity bias yielding inconsistent and contradictory results. In particular, we show that the Luenberger productivity indicator (LPI) is sensitive to proportional changes in the input-output quantities, while the Malmquist productivity index is not affected by such changes. This is due to the homogeneity degree of the directional distance function under constant returns to scale. In particular, the directional distance function only satisfies the weak commensurability axiom in general. However, if the directional distance function is a diagonally homogeneous function of the technology, then the directional distance function satisfies strong commensurability. This explains why the direction of an arithmetic mean of the observed data works well. Numerical examples and an empirical illustration are proposed. Under a translation homothetic technology, the LPI is not affected by any additive directional transformation of the observations. Length: 41 pages Creation-Date: 2021-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/01/2021-EQM-01.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-01 Classification-JEL: C43, C67, D24 Keywords: Malmquist and Luenberger productivity, Directional and proportional distance function, Weak and strong commensurability Handle: RePEc:ies:wpaper:E202101 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 –LEM, F-59000, France. 3, rue de la Digue, 59000 Lille, France Author-Email: jp.boussemart@ieseg.fr Author-Name: Hervé Leleu Author-X-Name-First: Hervé Author-X-Name-Last: Leleu Author-Workplace-Name: IESEG School of Management, CNRS, Univ. Lille, UMR 9221 –LEM, F-59000, France. 3, rue de la Digue, 59000 Lille, France Author-Email: h.leleu@ieseg.fr Author-Name: Raluca Parvulescu Author-X-Name-First: Raluca Author-X-Name-Last: Parvulescu Author-Workplace-Name: IESEG School of Management, UMR CNRS 9221 –LEM, F-59000, France. 3, rue de la Digue, 59000 Lille, France Author-Email: r.parvulescu@ieseg.fr Title: Value efficiency and its decomposition into direct price and quantity effects Abstract: Based on the idea that in real markets firms have some freedomto set their output prices and negotiate input unit costs, this paper introduces a new approach for value efficiency decomposition as the product of direct price and quantity effects. Our framework relies on the axiomatization of a value transformation set on which quantity, price and value distance functions can be defined. The methodology developed allows for variousdegrees of dependency between quantity and price as well as for different degrees of freedom in price setting. The value efficiency decomposition can encompass all traditional measures such as cost, revenue, profit and profitability efficiencies. An application on French cattle farms illustrates the appeal of our approach for practitioners. Length: 30 pages Creation-Date: 2021-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/01/2021-EQM-02.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-02 Classification-JEL: D24; C43 Keywords: Data envelopment analysis, value transformation set, value efficiency, direct price efficiency. Handle: RePEc:ies:wpaper:E202102 Template-Type: ReDIF-Paper 1.0 Author-Name: Loic Berger Author-X-Name-First: Loic Author-X-Name-Last: Berger Author-Workplace-Name: CNRS, IESEG School of Management, Univ. Lille, UMR 9221–LEM, F-59000 Lille, France; and Bocconi University, Italy Author-Email: l.berger@ieseg.fr Title: WHAT IS PARTIAL AMBIGUITY? Abstract: This paper reflects on the notion of partial ambiguity. Using a framework de-composing ambiguity into distinct layers of analysis, among which are risk and model uncertainty, and allowing for different attitudes toward these layers, I show that partial ambiguity may prove less desirable thanfull ambiguity, even under ambiguity aversion. This observation poses difficulties for interpreting the notion of partial ambiguity in relation to the partial information available to determine the potential compositions of an ambiguous urn. Two Ellsberg-style thought experiments are described to challenge the meaning of partial ambiguity further, and an alternative interpretation, based on a more ambiguous relation, is discussed. Length: 19 pages Creation-Date: 2021-04 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/04/2021-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2021-iRisk-01 Classification-JEL: D81 Keywords: Ambiguity, model uncertainty, smooth ambiguity aversion, Ellsberg para-dox Handle: RePEc:ies:wpaper:E202103 Template-Type: ReDIF-Paper 1.0 Author-Name: Loic Berger Author-X-Name-First: Loic Author-X-Name-Last: Berger Author-Workplace-Name: CNRS, IESEG School of Management, Univ. Lille, UMR 9221-LEM, F-59000 Lille, France Author-Email: l.berger@ieseg.fr Author-Name: Louis Eeckhoudt Author-X-Name-First: Louis Author-X-Name-Last: Eeckhoudt Author-Workplace-Name: IESEG School of Management, UMR 9221-LEM, F-59000 Lille, France Author-Email: louis.eeckhoudt@fucam.ac.be Title: Risk, ambiguity, and the value of diversification Abstract: Diversification is a basic economic principle that helps to hedge against uncertainty. It is therefore intuitive that both risk aversion and ambiguity aversion should positively affect the value of diversification. In this paper, we show that this intuition (1) is true for risk aversionbut (2) is not necessarily true for ambiguity aversion. We derive sufficient conditions, showing that, contrary to the economic intuition, ambiguity and ambiguity aversion may actually reduce the diversification value. Length: 17 pages Creation-Date: 2021-04 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/04/2021-iRisk-02.pdf File-Format: Application/pdf File-Function: Number: 2021-iRisk-02 Classification-JEL: D81 Keywords: Diversification, ambiguity aversion, model uncertainty, hedging Handle: RePEc:ies:wpaper:E202104 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: IESEG School of Management, CNRS-LEM (UMR 9221), Université de Lille, 3 rue de la Digue, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Paolo Mazza Author-X-Name-First: Paolo Author-X-Name-Last: Mazza Author-Workplace-Name: IESEG School of Management, CNRS-LEM (UMR 9221), 3 rue de la Digue, F-59000 Lille, France Author-Email: p.mazza@ieseg.fr Author-Name: Tiantian Ren Author-X-Name-First: Tiantian Author-X-Name-Last: Ren Author-Workplace-Name: Corresponding author: School of Business Administration, Hunan University, Changsha 410081, China, and IESEG School of Management, 3 rue de la Digue, F-59000 Lille, France, Tel: +33 320545892 (switch-board), Fax: +33 320574855 Author-Email: t.ren@ieseg.fr Author-Name: Ignace Van de Woestyne Author-X-Name-First: Ignace Author-X-Name-Last: Van de Woestyne Author-Workplace-Name: KU Leuven, Research Unit MEES, Warmoesberg 26, B-1000 Brussels, Belgium Author-Email: ignace.vandewoestyne@kuleuven.be Title: Multi-Time and Multi-Moment Nonparametric Frontier-Based Fund Rating: Proposal and Buy-and-Hold Backtesting Strategy Abstract: This contribution introduces new frontier models to rate mutual funds that can si-multaneously handle multiple moments and multiple times. These new models are empirically applied to hedge fund data, since this category of funds is known to be subject to non-normal return distributions. We define a simple buy-and-hold backtesting strategy to test for the impact of multiple moments and multiple times separately and jointly. Length: 39 pages Creation-Date: 2021-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/05/2021-EQM-03.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-03 Classification-JEL: D24, G11 Keywords: Shortage function; Frontier; Fund rating Handle: RePEc:ies:wpaper:E202105 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France, Tel: +33 320545892 (switchboard), Fax: +33 320574855 Author-Email: k.kerstens@ieseg.fr Author-Name: Jafar Sadeghi Author-X-Name-First: Jafar Author-X-Name-Last: Sadeghi Author-Workplace-Name: Ivey Business School, Western University, London, Ontario, Canada Author-Email: j.sadeghi1987@gmail.com Title: Plant Capacity Notions: Existence Results at Firm and Industry Levels Abstract: This contribution innovates by investigating the question as to the existence of solutions for the key plant capacity concepts using general nonparametric technologies. Focusing on both short-run and long-run output-oriented, attainable output-oriented, and input-oriented plant capacity notions, we first investigate the existence of solutions at the firm level. Then, for this same range of six plant capacity concepts, we also explore the more difficult question as to the existence of solutions at the industry level. Length: 36 pages Creation-Date: 2021-07 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/08/2021-EQM-04_2.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-04 Classification-JEL: D24 Keywords: Data Envelopment Analysis; Nonparametric Technology; Capacity utilization Handle: RePEc:ies:wpaper:E202106 Template-Type: ReDIF-Paper 1.0 Author-Name: Xiaoqing Chen Author-X-Name-First: Xiaoqing Author-X-Name-Last: Chen Author-Workplace-Name: School of Economics and Management, Southeast University, Nanjing, Jiangsu, China, and IESEG School of Management, 3 rue de la Digue, F-59000 Lille, France Author-Email: 230189623@seu.edu.cn Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Qingyuan Zhu Author-X-Name-First: Qingyuan Author-X-Name-Last: Zhu Author-Workplace-Name: Nanjing University of Aeronautics & Astronautics, College of Economics and Management, Nanjing, China Author-Email: zqyustc@mail.ustc.edu.cn Title: Exploring Horizontal Mergers in Swedish District Courts Using Convex and Nonconvex Technologies: Usefulness of a Conservative Approach Abstract: Swedish district courts have undergone a major mergers and acquisitions program between 2000 and 2010 to centralize activity in larger and fewer courts. The purpose of this contribution is to conduct an efficiency analysis of these courts to identify the eventual efficiency gains. Distinguishing mainly between technical and scale efficiency and determining the returns to scale of individual observations, we try to find the potential rationales behind this merger wave. We are to the best of our knowledge the first to combine traditional convex with nonconvex nonparametric frontier methods to calculate efficiency before and after the mergers. It turns out that the nonconvex methods provide a more cogent ex post explanation of this merger wave. Length: 33 pages Creation-Date: 2021-08 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/09/2021-EQM-05.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-05 Classification-JEL: Keywords: Horizontal merger, Technical efficiency, Scale efficiency, Data Envelopment Analysis, Free Disposal Hull Handle: RePEc:ies:wpaper:E202107 Template-Type: ReDIF-Paper 1.0 Author-Name: FREDERIC ANG Author-X-Name-First: FREDERIC Author-X-Name-Last: ANG Author-Workplace-Name: Business Economics Group, Wageningen University, P.O. Box 8130, 6700 EW Wageningen, The Netherlands Author-Email: frederic.ang@wur.nl Author-Name: KRISTIAAN KERSTENS Author-X-Name-First: KRISTIAAN Author-X-Name-Last: KERSTENS Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Title: ENERGY PRODUCTIVITY AND GREENHOUSE GAS EMISSION INTENSITY IN DUTCH DAIRY FARMS: A HICKS-MOORSTEEN BY-PRODUCTION APPROACH UNDER NONCONVEXITY Abstract: The agricultural sector is currently confronted with the challenge to reduce greenhouse gas (GHG) emissions, whilst maintaining or increasing production. Energy-saving technologies are often proposed as a partial solution, but the evidence on their ability to reduce GHG emissions remains mixed. Production economics provides methodological tools to analyse the nexus of agricultural production, energy use and GHG emissions. Convexity is predominantly maintained in agricultural production economics, despite various theoretical and empirical reasons to question it. Employing a nonconvex, free disposal hull framework, this paper evaluates energy productivity change (the ratio of aggregate output change to energy use change) and GHG emission intensity change (the ratio of GHG emission change to polluting input change) using Hicks-Moorsteen productivity formulations. We consider GHG emissions as by-products of the production process by means of multi-equation modelling. The application focuses on 1,510 Dutch dairy farms for the period of 2010-2019. The results show a positive association between energy productivity change and GHG emission intensity change, which calls into question the potential of on-farm, energy-efficiency-increasing measures to reduce GHG emission intensity. Length: 29 pages Creation-Date: 2021-10 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/10/2021-EQM-07.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-07 Classification-JEL: D22, D24, Q12, Q53, Q54 Keywords: energy, greenhouse gas emissions, productivity, dairy, nonconvexity Handle: RePEc:ies:wpaper:E202108 Template-Type: ReDIF-Paper 1.0 Author-Name: Stefano NASINI Author-X-Name-First: Stefano Author-X-Name-Last: NASINI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: s.nasini@ieseg.fr Author-Name: Rabia NESSAH Author-X-Name-First: Rabia Author-X-Name-Last: NESSAH Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: r.nessah@ieseg.fr Title: Endogenous Learning in Multi-Sector Economies Abstract: Consider a multi-sector general equilibrium model where firms have incomplete information about the returns to scale of their production and where that information is sequentially updated once real production is observed. What is the impact of these learning dynamics on the market-wise equilibrium objects? Under which conditions are firms able to efficiently learn their actual returns to scale? At which rate does this learning happen? In this work, we analyze endogenous learning mechanisms and their implications for the market-wise equilibrium objects in the multi-sector model. Our results shed light on how idiosyncratic shocks translate into the learning dynamics of firms returns to scale. Particularly, we uncover the advantages and disadvantages of the maximum a-posteriori estimation as a learning approach and we observe that all the relevant information in the learning dynamics is encoded in the input decisions and the manner in which input decisions are taken. We deduce conditions under which firms are able to learn the actual returns to scale. Using the notion of centrality in the multi-sector network, we uncover a price mechanism which is consistent not only with the correct knowledge of the returns to scale, but also with any converging sequence of belief on the returns to scale. On the empirical side, the proposed analysis of the endogenous learning dynamics is complemented with a statistical approach that allows testing the presence and level of learning using available input-output data. The empirical figures reveal the presence of sizable learning processes (driven by underestimations and overestimations of the returns to scale parameters) in different sectors. Length: 45 pages Creation-Date: 2021-10 Revision-Date: 2023-10 Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/10/2021-EQM-08.pdf File-Format: Application/pdf File-Function: Number: 2021-EQM-08 Classification-JEL: D5, D51, D83, C11, C13 Keywords: Mathematical Economics, Multi-sector general equilibrium model, Incomplete information, Returns to scale, Maximum a-posteriori estimation Handle: RePEc:ies:wpaper:E202109 Template-Type: ReDIF-Paper 1.0 Author-Name: Susanne NECKERMANN Author-X-Name-First: Susanne Author-X-Name-Last: NECKERMANN Author-Workplace-Name: Department of Economics, University of Chicago, 1126 E. 59th Street, Chicago, IL 60637, USA Author-Email: sneckermann@uchicago.edu Author-Name: Uyanga TURMUNKH Author-X-Name-First: Uyanga Author-X-Name-Last: TURMUNKH Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: u.turmunkh@ieseg.fr Author-Name: Dennie VAN DOLDER Author-X-Name-First: Dennie Author-X-Name-Last: VAN DOLDER Author-Workplace-Name: School of Business and Economics, Vrije Universiteit (VU) Amsterdam, Gustav Mahlerplein 117, 1082 MS Amsterdam, the Netherlands Department of Economics, University of Essex, Wivenhoe Park, Colchester CO4 3SQ, United Kingdom Author-Email: d.van.dolder@vu.nl Author-Name: Tong V. WANG Author-X-Name-First: Tong V. Author-X-Name-Last: WANG Author-Workplace-Name: Institute for Advanced Economic Research, Dongbei University of Finance and Economics, 217 Jianshan Street, Dalian, Liaoning 116025, P.R. China Author-Email: t.wang@dufe.edu.cn Title: Nudging Student Participation in Online Evaluations of Teaching: Evidence from a Field Experiment Abstract: This paper reports the results of a large randomized field experiment that investigates the extent to which nudges can stimulate student participation in teaching evaluations. The three nudges that we used were designed to either: (1) heighten students’ perceived impact of teaching evaluations, (2) communicate a descriptive norm of high participation, and (3) use the commitment-consistency principle by asking students to commit to participation. We find that none of the nudges were effective: all treatment effects are insignificant and close to zero in magnitude. Exploring heterogeneous treatment effects, we find evidence that the effectiveness of both the impact and commitment treatments differed across students. The impact treatment had a negative effect on the participation of bachelor-level students, but not on that of masterlevel students. The commitment treatment increased participation among students with good average grades, whereas it decreased participation for students whose average grades were poor. Length: 40 pages Creation-Date: 2021-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/12/2021-iRisk-03.pdf File-Format: Application/pdf File-Function: Number: 2021-iRisk-03 Classification-JEL: D90, D91, H41, I20 Keywords: : nudges; social norms; descriptive norm; commitment; student evaluation of teaching; participation; response rates; field experiment Handle: RePEc:ies:wpaper:E202110 Template-Type: ReDIF-Paper 1.0 Author-Name: Juan S. MUNOZ-MORALES Author-X-Name-First: Juan S. Author-X-Name-Last: MUNOZ-MORALES Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: j.munoz@ieseg.fr Author-Name: Ruchi SINGH Author-X-Name-First: Ruchi Author-X-Name-Last: SINGH Author-Workplace-Name: University of Georgia Author-Email: ruchi.singh@uga.edu Title: Do School Shootings Erode Property Values? Abstract: This paper exploits the exogenous timing of mass shootings in schools to estimate the causal effects of school shootings on housing values and sheds light on the underlying mechanism. Using a difference-in-differences strategy, we find that house prices within a school district decline by seven percent after a school shooting, with stronger effects among houses with more bedrooms (proxy for school-age children in household). We also find evidence of a decrease in school enrollment and the number of teachers after the shooting. This suggests that decreased demand for schools within the affected school districts explains the drop in property prices Length: 36 pages Creation-Date: 2021-09 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2021/12/2021-iFLAME-01.pdf File-Format: Application/pdf File-Function: Number: 2021-iFlame-01 Classification-JEL: I21, R21 Keywords: : Mass shooting, house prices, schooling amenities, crime Handle: RePEc:ies:wpaper:E202111 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone MORICONI Author-X-Name-First: Simone Author-X-Name-Last: MORICONI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: s.moriconi@ieseg.fr Author-Name: Núria RODRIGUEZ-PLANAS Author-X-Name-First: Núria Author-X-Name-Last: RODRIGUEZ-PLANAS Author-Workplace-Name: City University of New York, Queens College and The Graduate Center, and Barnard College at Columbia University Author-Email: nrodriguezplanas@gmail.com Title: Gender Norms and the Motherhood Employment Gap Abstract: Using individual-level data from the European Social Survey, we study the relevance of gender norms in accounting for the motherhood employment gap across 186 European NUTS2 regions (over 29 countries) for the 2002-2016 period. The gender norm variable is taken from a question on whether “men should have more right to a job than women when jobs are scarce” and represents the average extent of disagreement (on a scale 1 to 5) of women belonging to the “grandmothers” cohort. We address the potential endogeneity of our gender norms measure with an index of the degree of reproductive health liberalization when grandmothers were 20 years old. We also account for the endogeneity of motherhood with the level of reproductive health liberalization when mothers were 20 years old. We find a robust positive association between progressive beliefs among the grandmothers’ cohort and mothers’ likelihood to work while having a small child (0 to 5 years old) relative to similar women without children. No similar association is found among men. Our analysis underscores the role of gender norms and maternal employment, suggesting that non-traditional gender norms mediate on the employment gender gap mainly via motherhood. Length: 46 pages Creation-Date: 2021-12 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/01/2021-iFLAME-02.pdf File-Format: Application/pdf File-Function: Number: 2021-iFlame-02 Classification-JEL: J16, J22 Keywords: : gender norms, motherhood employment gap, instrumenting for motherhood Handle: RePEc:ies:wpaper:E202112 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas BAUDIN Author-X-Name-First: Thomas Author-X-Name-Last: BAUDIN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France and IRES, Université Catholique de Louvain Author-Email: t.baudin@ieseg.fr Author-Name: Robert STELTER Author-X-Name-First: Robert Author-X-Name-Last: STELTER Author-Workplace-Name: University of Basel, Faculty of Business and Economics and Max Planck Institute for Demographic Research Author-Email: robert.stelter@unibas.ch Title: The rural exodus and the rise of Europe Abstract: We propose a unified model of growth and internal migration and identify its deep parameters using an original set of Swedish data. We show that inter- nal migration conditions had to be favorable enough to induce an exodus out of the countryside in order to fuel the industrial development of cities and the demographic transition of the country. We then compare the respective effects of shocks to internal migration costs, to infant mortality and to the productivity of rural industry to the economic take-off and demographic transition that occurred in Sweden. Negative shocks to internal mobility generate larger delays in the take-off of growth than do mortality shocks equivalent to the bubonic plague. These delays are dramatic when rural industry is less productive in the early phase of industrialization. The economic and demographic dynamics of Sweden were very similar to those of the rest of Europe at the time of industrialization, which allows us to generalize our findings Length: 112 pages Creation-Date: 2022-02 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/02/2022-IFlame-01.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-01 Classification-JEL: J11, J13, O41 Keywords: : Demographic transition, Industrialization, Rural exodus, Mortal- ity differentials, Fertility differentials Handle: RePEc:ies:wpaper:E202202 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas BAUDIN Author-X-Name-First: Thomas Author-X-Name-Last: BAUDIN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France and IRES, Université Catholique de Louvain Author-Email: t.baudin@ieseg.fr Author-Name: Koyel SARKAR Author-X-Name-First: Koyel Author-X-Name-Last: SARKAR Author-Workplace-Name: Center for Demographic Research, Université Catholique de Louvain Author-Email: koyel.sarkar@uclouvain.be Title: Education and Childlessness in India Abstract: In a developing setting like India, women have started their long way to eman- cipation both at the family and societal levels. In this context, we study what may be perceived as a key sign of emancipation regarding marriage and mother- hood: childlessness. Using micro-level regressions, we show that the probability of a woman ending her reproductive life without children exhibits a U-shaped relationship with her educational attainment. This is indicative of the fact that poverty and sterility are not the sole determinants of childlessness, but that bet- ter economic opportunities and empowerment within couples also matter. This result is robust to the introduction of important control variables such as the development level of the state where women live, the husband’s education, age at marriage, religion, and caste. India seems to be joining a list of countries where adjustments to childlessness are much more than simple responses to boom-and- bust poverty. Length: 36 pages Creation-Date: 2022-02 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/02/2022-IFlame-02.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-02 Classification-JEL: J13, O10 Keywords: : Childlessness, education, poverty, sterility, development. Handle: RePEc:ies:wpaper:E202202 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone MORICONI Author-X-Name-First: Simone Author-X-Name-Last: MORICONI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM – Lille Economie Management, F-59000 Lille, France, CESifo Munich Author-Email: s.moriconi@ieseg.fr Author-Name: Tuna ABAY Author-X-Name-First: Tuna Author-X-Name-Last: ABAY Author-Workplace-Name: European University Institute Author-Email: abaytuna@hotmail.com Title: Managerial Firms, Taxation and Welfare Abstract: This paper investigates the welfare properties of an economy where firms are man- agerial, i.e., composed of two complementary units, each run by its own manager. We show that in the market equilibrium, welfare is generally lower in the case of managerial firms than in that of standard production firms due to the private costs that managers bear to coordinate their operating decisions within the firm. In this organizational set- ting, we also derive a number of interesting results regarding the welfare effects of tax- ation. We show that while a lump-sum tax is welfare-neutral, a nonlump-sum tax may have negative, positive or zero net effect on welfare, depending on market conditions, tax levels, and the structure of managerial incentives. In some cases, these welfare ef- fects are due to ‘tax-induced’ changes in the ownership structure of firms in the industry equilibrium. Length: 60 pages Creation-Date: 2022-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/03/2022-IFlame-03-1.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-03 Classification-JEL: D21, D60, H21, L23 Keywords: : managerial firms, welfare, taxation Handle: RePEc:ies:wpaper:E202203 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone MORICONI Author-X-Name-First: Simone Author-X-Name-Last: MORICONI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM – Lille Economie Management, F-59000 Lille, France, CESifo Munich Author-Email: s.moriconi@ieseg.fr Author-Name: Tuna ABAY Author-X-Name-First: Tuna Author-X-Name-Last: ABAY Author-Workplace-Name: European University Institute Author-Email: abaytuna@hotmail.com Title: Managerial Firms, Taxation and Welfare Abstract: This paper investigates the welfare properties of an economy where firms are man- agerial, i.e., composed of two complementary units, each run by its own manager. We show that in the market equilibrium, welfare is generally lower in the case of managerial firms than in that of standard production firms due to the private costs that managers bear to coordinate their operating decisions within the firm. In this organizational set- ting, we also derive a number of interesting results regarding the welfare effects of tax- ation. We show that while a lump-sum tax is welfare-neutral, a nonlump-sum tax may have negative, positive or zero net effect on welfare, depending on market conditions, tax levels, and the structure of managerial incentives. In some cases, these welfare ef- fects are due to ‘tax-induced’ changes in the ownership structure of firms in the industry equilibrium. Length: 60 pages Creation-Date: 2022-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/03/2022-IFlame-03-1.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-03 Classification-JEL: D21, D60, H21, L23 Keywords: : managerial firms, welfare, taxation Handle: RePEc:ies:wpaper:E202203 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone MORICONI Author-X-Name-First: Simone Author-X-Name-Last: MORICONI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM – Lille Economie Management, F-59000 Lille, France, CESifo Munich Author-Email: s.moriconi@ieseg.fr Author-Name: Tuna ABAY Author-X-Name-First: Tuna Author-X-Name-Last: ABAY Author-Workplace-Name: European University Institute Author-Email: abaytuna@hotmail.com Title: Managerial Firms, Taxation and Welfare Abstract: This paper investigates the welfare properties of an economy where firms are man- agerial, i.e., composed of two complementary units, each run by its own manager. We show that in the market equilibrium, welfare is generally lower in the case of managerial firms than in that of standard production firms due to the private costs that managers bear to coordinate their operating decisions within the firm. In this organizational set- ting, we also derive a number of interesting results regarding the welfare effects of tax- ation. We show that while a lump-sum tax is welfare-neutral, a nonlump-sum tax may have negative, positive or zero net effect on welfare, depending on market conditions, tax levels, and the structure of managerial incentives. In some cases, these welfare ef- fects are due to ‘tax-induced’ changes in the ownership structure of firms in the industry equilibrium. Length: 60 pages Creation-Date: 2022-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/03/2022-IFlame-03-1.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-03 Classification-JEL: D21, D60, H21, L23 Keywords: : managerial firms, welfare, taxation Handle: RePEc:ies:wpaper:E202203 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe BOUSSEMART Author-X-Name-First: Jean-Philippe Author-X-Name-Last: BOUSSEMART Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: jp.boussemart@ieseg.fr Author-Name: Zhiyang SHEN Author-X-Name-First: Zhiyang Author-X-Name-Last: SHEN Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, 100081 Beijing, China Author-Email: zhiyang86@163.com Author-Name: Songkai WANG Author-X-Name-First: Songkai Author-X-Name-Last: WANG Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, 100081 Beijing, China Author-Email: songkai0915@163.com Author-Name: Yu HAO Author-X-Name-First: Yu Author-X-Name-Last: HAO Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, 100081 Beijing, China Author-Email: haoyuking@gmail.com Title: Digital transition and green growth in Chinese agriculture Abstract: As the primary industry in an economy, sustainable agricultural growth has attracted much attention from researchers and policy-makers worldwide. Digitalization reform and information technology greatly impact agriculture, rural areas, and farmers, improving high-quality development and green growth in the agricultural sector. Based on a measure of digitalization and a green productivity indicator, this paper investigates the impact of internet development on the economic and environmental performance of Chinese agriculture. Based on a measurement of digitalization and a green productivity indicator, this paper investigates the environmental performance and its relationship with internet development in the Chinese agricultural sector. The empirical results suggest that substantial green growth is observed in Chinese provincial agriculture, which is largely motived by technological progress. Internet popularization and digital technology indeed promote sustainable development in agriculture. Furthermore, the corresponding policy implications are provided to create a new path for steady growth in Chinese agriculture. Length: 50 pages Creation-Date: 2022-04 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/04/2022-EQM-01.pdf File-Format: Application/pdf File-Function: Number: 2022-EQM-01 Classification-JEL: O13, O47, P28 Keywords: : Green growth; Internet development; Digitalization; Agricultural productivity Handle: RePEc:ies:wpaper:E202204 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Xiaoqing CHEN Author-X-Name-First: Xiaoqing Author-X-Name-Last: CHEN Author-Workplace-Name: School of Economics and Management, Southeast University, Nanjing, Jiangsu, China, and IESEG School of Management, 3 rue de la Digue, F-59000 Lille, France Author-Email: 230189623@seu.edu.cn Title: Evaluating Horizontal Mergers in Swedish District Courts Using Plant Capacity Concepts: With a Focus on Nonconvexity Abstract: This contribution investigates the effects of horizontal mergers and acquisitions on the plant capacity utilisation of the Swedish district courts over the periods 2000-2017. More specifically, we empirically demonstrate the decomposition of input-oriented and output-oriented technical efficiency by incorporating several concepts of plant capacity utilisation. Moreover, we also explore the impact of convexity on input-oriented and output-oriented measures of plant capacity in the short-run scenario in an attempt to discover the potential rationale behind the merger wave. To the best of our knowledge, we are the first to assess horizontal mergers by employing plant capacity utilisation concepts. The results indicate that the horizontal mergers improve capacity utilisation. Furthermore, the nonconvex frontier method provides a more conservative estimate of plant capacity changes of this merger wave. Length: 32 pages Creation-Date: 2022-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/05/2022-EQM-02-2.pdf File-Format: Application/pdf File-Function: Number: 2022-EQM-02 Classification-JEL: D24 Keywords: : Data Envelopment Analysis, Free Disposal Hull, Plant capacity utilisation, Horizontal mergers and acquisitions Handle: RePEc:ies:wpaper:E202205 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Zhiyang SHEN Author-X-Name-First: Zhiyang Author-X-Name-Last: SHEN Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China Author-Email: zhiyang86@163.com Author-Name: Yiping YANG Author-X-Name-First: Yiping Author-X-Name-Last: YANG Author-Workplace-Name: School of Humanities and Social Sciences, Beijing Institute of Technology, Beijing 100081, China Author-Email: yyiping@foxmail.com Author-Name: Haiyan DENG Author-X-Name-First: Haiyan Author-X-Name-Last: DENG Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China Author-Email: mariadeng716@126.com Title: Global and local technological changes with environmental factors: Analysis of the agricultural sector in developing economies Abstract: Implementing the United Nations 2030 Agenda for Sustainable Development requires the expansion of green agriculture through updating low-carbon agricultural technologies. This study extends the definition of technological progress by introducing undesirable outputs into the calculation of global and local technological progress in the context of the by-production model. Convex and nonconvex models are applied to calculate the distance function, and then the Luenberger productivity indicator is obtained and decomposed into economic and environmental performance. This study then calculates the contribution of global and local innovation forces to technological progress with consideration for environmental factors. Finally, it tests the beta-convergence of productivity and identifies innovators. In the investigation of global and local technological changes in the agricultural sector in developing economies, the results show improvements in the Luenberger green productivity, efficiency changes, and technological progress, with technological progress in the environmental dimension contributing the most to performance improvement. Moreover, 14 sample countries experience global and local technological progress, and global and local innovation forces contribute equally. But the countries’ agricultural green development did not converge. Therefore, developing economies should pay more attention to environmental technological innovation and agricultural cooperation Length: 39 pages Creation-Date: 2022-06 Revision-Date: Publication-Status: File-URL: https: https://www.ieseg.fr/wp-content/uploads/2022/06/2022-EQM-03.pdf File-Format: Application/pdf File-Function: Number: 2022-EQM-03 Classification-JEL: D24 Keywords: : Global and local technological change; by-production model; Luenberger productivity indicator; convex and nonconvex Handle: RePEc:ies:wpaper:E202206 Template-Type: ReDIF-Paper 1.0 Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Tomas BALEZENTIS Author-X-Name-First: Tomas Author-X-Name-Last: BALEZENTIS Author-Workplace-Name: Lithuanian Centre for Social Sciences, Vilnius, Lithuania Author-Email: tomas@laei.lt Author-Name: Zhiyang SHEN Author-X-Name-First: Zhiyang Author-X-Name-Last: SHEN Author-Workplace-Name: School of Management and Economics, Beijing Institute of Technology, 5 Zhongguancunnan Street, 100081 Beijing, China. Author-Email: zhiyang86@163.com Title:Economic and Environmental Decomposition of Luenberger- Hicks-Moorsteen Total Factor Productivity Indicator: Empirical Analysis of Chinese Textile Firmswith a Focus on Reporting Infeasibilities and Questioning Convexity factors: Analysis of the agricultural sector in developing economies Abstract: We discuss an environmental Luenberger-Hicks-Moorsteen (LHM) Total Factor Productivity (TFP) indicator and its decomposition that incorporates a negative externality into the measurement of economic performance. Special cases of a generalized environmental directional distance function are involved in the definition of this LHM indicator and its proposed decomposition. We also seek to test whether changes in the convexity assumption provoke differences in the TFP measures. We apply two specifications of the by-production nonparametric environmental technology to implement this LHM TFP. This LHM TFP indicator decomposes into three terms representing technical change, technical inefficiency change, and scale inefficiency change. The changes in the environmental TFP for China’s textile industry is then estimated for the period from 2001 to 2010. We report infeasibilities and we show the differences of the proposed framework for the decomposition of the LHM indicator depending on the convexity assumption. The results suggest there has been an increase in the TFP of China’s textile industry: the amount depends on the convexity or not of the technology. The environmental performance is poorer than the economic one. Moreover, contradictions between convex and nonconvex LHM indicators for individual observations appear for a substantial part of the sample. Length: 37 pages Creation-Date: 2022-07 Revision-Date: Publication-Status: File-URL: https: https://www.ieseg.fr/wp-content/uploads/2022/07/2022-EQM-04.pdf File-Format: Application/pdf File-Function: Number: 2022-EQM-04 Classification-JEL: D24 Keywords: : Total factor productivity; indicator; data envelopment analysis, textile industry. Handle: RePEc:ies:wpaper:E202207 Template-Type: ReDIF-Paper 1.0 Author-Name: Simone MORICONI Author-X-Name-First: Simone Author-X-Name-Last: MORICONI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM – Lille Economie Management, F-59000 Lille, France, CESifo Munich Author-Email: s.moriconi@ieseg.fr Author-Name: Giovanni PERI Author-X-Name-First: Giovanni Author-X-Name-Last: PERI Author-Workplace-Name: University of California, Davis Author-Email: gperi@ucdavis.edu Author-Name: Riccardo TURATI Author-X-Name-First: Riccardo Author-X-Name-Last: TURATI Author-Workplace-Name: Universitat Autonoma de Barcelona Author-Email: riccardo.turati@uab.cat Title: Are Immigrants more Left-leaning than Natives? Abstract: We analyze whether second generation immigrants have different political preferences relative to observationally identical host country’s citizens. Using data on individual voting behavior in 22 Euro- pean countries between 2001 and 2017 we characterize each vote on a left-right scale using ideological and policy position of the party from the Manifesto Project Database. In the first part of the paper we characterize the size of the "left-bias" in the vote of second generation immigrants, after controlling for a large set of individual characteristics and origin and destination country unobservable factors. We find a significant left-bias of second generation migrants relative to observationally identical natives, similar in magnitude to the association between left-bias and secondary education, or living in urban areas. We then show that this left-bias associates with stronger preferences for government intervention to reduce economic inequality, and for internationalism and multiculturalism. Length: 39 pages Creation-Date: 2022-07 Revision-Date: Publication-Status: File-URL: https: https://www.ieseg.fr/wp-content/uploads/2022/07/2022-IFlame-04-2.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-04 Classification-JEL: D72, J61, P16, Z1 Keywords: : Immigration, Elections, Europe Handle: RePEc:ies:wpaper:E202207 Template-Type: ReDIF-Paper 1.0 Author-Name: Tat-kei LAI Author-X-Name-First: Tat-kei Author-X-Name-Last: LAI Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM – Lille Economie Management, F-59000 Lille, France Author-Email: t.lai@ieseg.fr Author-Name: Yi LU Author-X-Name-First: Yi Author-X-Name-Last: LU Author-Workplace-Name: Tsinghua University, China Author-Email: luyi@sem.tsinghua.edu.cn Author-Name: Travis NG Author-X-Name-First: Travis Author-X-Name-Last: NG Author-Workplace-Name: The Chinese University of Hong Kong, Hong Kong Author-Email: TravisNg@cuhk.edu.hk Title: Import Competition and Workplace Safety in the U.S. Manufacturing Sector Abstract: Relating workplace injury and illness rates to import competition in the U.S. manufacturing sector, we identify two main empirical patterns. First, industries facing more intense import competition have lower workplace injury and illness rates. Second, jobs within industries facing more intense import competition are composed of a higher proportion of safe jobs and lower proportion of dangerous jobs compared with industries facing less intense import competition. Length: 33 pages Creation-Date: 2022-09 Revision-Date: Publication-Status: File-URL: https: https://www.ieseg.fr/wp-content/uploads/2022/09/2022-IFlame-05.pdf File-Format: Application/pdf File-Function: Number: 2022-iFlame-05 Classification-JEL: F10, F61, J28 Keywords: : Workplace safety, Injuries and illnesses, OSHA, Globalization, Job displacement, Foreign competition. Handle: RePEc:ies:wpaper:E202209 Template-Type: ReDIF-Paper 1.0 Author-Name: Ilke AYDOGAN Author-X-Name-First: Ilke Author-X-Name-Last: AYDOGAN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; and iRisk Research Center on Risk and Uncertainty Author-Email: i.aydogan@ieseg.fr Author-Name: Loïc BERGER Author-X-Name-First: Loïc Author-X-Name-Last: BERGER Author-Workplace-Name: CNRS, Univ. Lille, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; iRisk Research Center on Risk and Uncertainty; RFF-CMCC European Institute on Economics and the Environment (EIEE), and Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: l.berger@ieseg.fr Author-Name: Valentina BOSETTI Author-X-Name-First: Valentina Author-X-Name-Last: BOSETTI Author-Workplace-Name: Department of Economics and IGIER, Bocconi University, and RFF-CMCC European Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: valentina.bosetti@unibocconi.it Author-Name: Ning LIU Author-X-Name-First: Ning Author-X-Name-Last: LIU Author-Workplace-Name: School of Economics and Management, Beihang University and Laboratory for Low-carbon Intelligent Governance, Beihang University, China Author-Email: nliu2018@buaa.edu.cn Title: Three layers of uncertainty Abstract: We explore decision-making under uncertainty using a framework that decomposes uncertainty into three distinct layers: (1) risk, which entails inherent randomness within a given probability model; (2) model ambiguity, which entails uncertainty about the probability model to be used; and (3) model misspecification, which entails uncertainty about the presence of the correct probability model among the set of models considered. Using a new experimental design, we isolate and measure attitudes towards each layer separately. We conduct our experiment on three di?erent subject pools and document the existence of a behavioral distinction between the three layers. In addition to providing new insights into the underlying processes behind ambiguity aversion, we provide the first empirical evidence of the role of model misspecification in decision-making under uncertainty. Length: 36 pages Creation-Date: 2022-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2022/11/2022-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2022-iRisk-01 Classification-JEL: D81 Keywords: : Ambiguity aversion, model uncertainty, model misspecification, non-expected utility, reduction of compound lotteries Handle: RePEc:ies:wpaper:E202211 Template-Type: ReDIF-Paper 1.0 Author-Name: Ilke AYDOGAN Author-X-Name-First: Ilke Author-X-Name-Last: AYDOGAN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; and iRisk Research Center on Risk and Uncertainty Author-Email: i.aydogan@ieseg.fr Author-Name: Loïc BERGER Author-X-Name-First: Loïc Author-X-Name-Last: BERGER Author-Workplace-Name: CNRS, Univ. Lille, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; iRisk Research Center on Risk and Uncertainty; RFF-CMCC European Institute on Economics and the Environment (EIEE), and Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: l.berger@ieseg.fr Author-Name: Valentina BOSETTI Author-X-Name-First: Valentina Author-X-Name-Last: BOSETTI Author-Workplace-Name: Department of Economics and IGIER, Bocconi University, and RFF-CMCC European Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: valentina.bosetti@unibocconi.it Title: UNRAVELING AMBIGUITY AVERSION Abstract: We report the results of two experiments designed to better understand the mechanisms driving decision-making under ambiguity. We elicit individual preferences over different sources of uncertainty (risk, compound risk, model ambiguity, and Ellsberg ambiguity), which entail different degrees of complexity, from subjects with different sophistication levels. We show that (1) ambiguity aversion is robust to sophistication, but the strong relationship that has been previously reported between attitudes toward ambiguity and compound risk is not. (2) Ellsberg ambiguity attitude can be partly explained by attitudes toward complexity for less sophisticated subjects, but not for more sophisticated ones. Overall, and regardless of the subject’s sophistication level, the main driver of Ellsberg ambiguity attitude is a specific treatment of unknown probabilities. These results leave room for using ambiguity models in applications with prescriptive purposes. Length: 43 pages Creation-Date: 2023-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/02/2023-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-01 Classification-JEL: C91, C93, D81 Keywords: : Ambiguity aversion, reduction of compound risk, model uncertainty, complexity Handle: RePEc:ies:wpaper:E202301 Template-Type: ReDIF-Paper 1.0 Author-Name: Ilke AYDOGAN Author-X-Name-First: Ilke Author-X-Name-Last: AYDOGAN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; and iRisk Research Center on Risk and Uncertainty Author-Email: i.aydogan@ieseg.fr Author-Name: Loïc BERGER Author-X-Name-First: Loïc Author-X-Name-Last: BERGER Author-Workplace-Name: CNRS, Univ. Lille, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; iRisk Research Center on Risk and Uncertainty; RFF-CMCC European Institute on Economics and the Environment (EIEE), and Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: l.berger@ieseg.fr Author-Name: Valentina BOSETTI Author-X-Name-First: Valentina Author-X-Name-Last: BOSETTI Author-Workplace-Name: Department of Economics and IGIER, Bocconi University, and RFF-CMCC European Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: valentina.bosetti@unibocconi.it Title: UNRAVELING AMBIGUITY AVERSION Abstract: We report the results of two experiments designed to better understand the mechanisms driving decision-making under ambiguity. We elicit individual preferences over different sources of uncertainty (risk, compound risk, model ambiguity, and Ellsberg ambiguity), which entail different degrees of complexity, from subjects with different sophistication levels. We show that (1) ambiguity aversion is robust to sophistication, but the strong relationship that has been previously reported between attitudes toward ambiguity and compound risk is not. (2) Ellsberg ambiguity attitude can be partly explained by attitudes toward complexity for less sophisticated subjects, but not for more sophisticated ones. Overall, and regardless of the subject’s sophistication level, the main driver of Ellsberg ambiguity attitude is a specific treatment of unknown probabilities. These results leave room for using ambiguity models in applications with prescriptive purposes. Length: 43 pages Creation-Date: 2023-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/02/2023-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-01 Classification-JEL: C91, C93, D81 Keywords: : Ambiguity aversion, reduction of compound risk, model uncertainty, complexity Handle: RePEc:ies:wpaper:E202301 Template-Type: ReDIF-Paper 1.0 Author-Name: Qianying JIN Author-X-Name-First: Qianying Author-X-Name-Last: JIN Author-Workplace-Name: College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, 211106, China Author-Email: qianying.jin@nuaa.edu.cn Author-Name: Kristiaan KERSTENS Author-X-Name-First: Kristiaan Author-X-Name-Last: KERSTENS Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille E´conomie Management, Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Ignace VAN DE WOESTYNE Author-X-Name-First: Ignace Author-X-Name-Last: VAN DE WOESTYNE Author-Workplace-Name: KU Leuven, Research Centre for Operations Research and Statistics (ORSTAT), Brussels Campus, War- moesberg 26, B-1000 Brussels, Belgium Author-Email: ignace.vandewoestyne@kuleuven.be Title: Convex and Nonconvex Nonparametric Frontier-based Classification Methods for Anomaly Detection Abstract: Effective methods for determining the boundary of the normal class are very useful for detecting anomalies in commercial or security applications - a problem known as anomaly detection. This contribution proposes a nonparametric frontier-based clas- sification (NPFC) method for anomaly detection. By relaxing the commonly used convexity assumption in the literature, a nonconvex NPFC method is constructed and the nonconvex nonparametric frontier turns out to provide a more conservative bound- ary enveloping the normal class. By reflecting on the monotonic relation between the characteristic variables and the membership, the proposed NPFC method is in a more general form since both input-type and output-type characteristic variables are incor- porated. A biomedical data set is used to test the performance of the proposed NPFC methods. The results show that the proposed NPFC methods have competitive clas- sification performance and have consistent advantages in detecting abnormal samples, especially the nonconvex NPFC method Length: 26 pages Creation-Date: 2023-02 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/02/2023-EQM-01.pdf File-Format: Application/pdf File-Function: Number: 2023-EQM-01 Classification-JEL: Keywords: : Nonparametric Frontier; Convex; Nonconvex; Anomaly Detection Handle: RePEc:ies:wpaper:E202302 Template-Type: ReDIF-Paper 1.0 Author-Name: Ilke AYDOGAN Author-X-Name-First: Ilke Author-X-Name-Last: AYDOGAN Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; and iRisk Research Center on Risk and Uncertainty Author-Email: i.aydogan@ieseg.fr Author-Name: Loïc BERGER Author-X-Name-First: Loïc Author-X-Name-Last: BERGER Author-Workplace-Name: CNRS, Univ. Lille, IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; iRisk Research Center on Risk and Uncertainty; RFF-CMCC European Institute on Economics and the Environment (EIEE), and Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy Author-Email: l.berger@ieseg.fr Author-Name: Vincent THEROUDE Author-X-Name-First: Vincent Author-X-Name-Last: THEROUDE Author-Workplace-Name: Université de Lorraine, Université de Strasbourg, CNRS, BETA, 54000, Nancy, France Author-Email: vincent.theroude@univ-lorraine.fr Title: More Ambiguous or More Complex? An Investigation of Individual Preferences under Model Uncertainty Abstract: WeThis paper explores the drivers of individual preferences under uncertainty. We propose a characterization of the situations of model uncertainty such as the ones introduced by Ellsberg (1961) by building on the more ambiguous relations of Jewitt and Mukerji (2017) and Izhakian (2020) and on two new more complex relations. Re- considering existing data sets from the recent literature and combining them with new experimental evidence, we show that uncertainty preferences can be driven by considerations regarding both the degree of complexity and ambiguity that a situation entails. Length: 58 pages Creation-Date: 2023-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/03/2023-iRisk-02.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-02 Classification-JEL: D81 Keywords: : Ambiguity, model uncertainty, complexity, Ellsberg paradox Handle: RePEc:ies:wpaper:E202303 Template-Type: ReDIF-Paper 1.0 Author-Name: Kassoum Ayouba Author-X-Name-First: Kassoum Author-X-Name-Last: Ayouba Author-Workplace-Name: Université Clermont Auvergne, AgroParisTech, INRAE, VetAgro Sup, UMR Territoires, F-63170, Aubière, France, 9 avenue Blaise Pascal, CS 20085. 63178 Aubière - France Author-Email: kassoum.ayouba@inrae.fr Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 –LEM, F-59000, France. 3, rue de la Digue, 59000 Lille, France Author-Email: jp.boussemart@ieseg.fr Author-Name: Raluca Parvulescu Author-X-Name-First: Raluca Author-X-Name-Last: Parvulescu Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 –LEM, F-59000, France. 3, rue de la Digue, 59000 Lille, France Author-Email: r.parvulescu@ieseg.fr Title: Measuring CO2 emission reduction potential using a cost approach Abstract:Departing from traditional approaches based on treating carbon dioxide (CO2) emissions as a bad output, thus relying on the weak disposability assumption, CO2 emissions are considered in this paper as a cost to minimize. We extend the Coelli et al. (2007) pollution cost approach preserving the materials balance condition by considering that peers are evaluated, besides their energy use, on their carbon intensity per total energy consumption. The proposed methodology is applied to estimate the extent to which a selection of 33 OECD and BRICS countries can reduce their CO2 emissions given their Gross Domestic Product and population over the period 2001-2019. Our results indicate that the period mean reduction potential for CO2 emissions of 53% (i.e., an efficiency level of 47%) can be decomposed into a 36% reduction in the energy intensity and a 27% decrease in the carbon intensity of energy (i.e., efficiency of 64% and respectively, 73%). Length: 28 pages Creation-Date: 2023-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/03/2023-EQM-02.pdf File-Format: Application/pdf File-Function: Number: 2023-EQM-02 Classification-JEL: Q52, Q40, D24, C61 Keywords: Carbon dioxide emissions, Emission-generating technologies, Pollution cost, Energy use, Activity model, Data envelopment analysis (DEA) Handle: RePEc:ies:wpaper:E202304 Template-Type: ReDIF-Paper 1.0 Author-Name: Xiaoqing Chen Author-X-Name-First: Xiaoqing Author-X-Name-Last: Chen Author-Workplace-Name: School of Management Science and Engineering, Nanjing University of Information Science and Techno- logy, Nanjing, Jiangsu, China, and IESEG School of Management, 3 rue de la Digue, F-59000 Lille, France, Author-Email: XQchen1001@163.com Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Economie´ Management, F-59000 Lille, France Author-Email: k.kerstens@ieseg.fr Author-Name: Mike Tsionas Author-X-Name-First: Mike Author-X-Name-Last: Tsionas Author-Workplace-Name: Montpellier Business School, France & Lancaster University Management School, UK Author-Email: m.tsionas@montpellier-bs.com Title: Does Productivity Change at All in Swedish District Courts? Empirical Analysis Focusing on Horizontal Mergers Abstract:This contribution is the first to compare the Malmquist and Hicks-Moorsteen pro- ductivity indices in the context of horizontal mergers of Swedish district courts during the period 2000-2017. It is also the first to calculate these productivity indices for con- vex and nonconvex nonparametric frontier specifications in courts under both constant and variable returns to scale. Moreover, a one-sample symmetric Wilcoxon test and a t-test are performed on the average productivity index to determine whether it is significantly different from unity. Also Li-test statistics examine the differences in pro- ductivity between these two indices or between convexity and nonconvexity for a given index. Furthermore, we compare these two productivity indices before and after the mergers to investigate the impact of the horizontal merger activity. The empirical res- ults indicate that overall there is no significant technical change at all. Furthermore, horizontal mergers overall do neither result in technical change, nor in post-merger productivity gains. Length: 44 pages Creation-Date: 2023-06 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/07/2023-EQM-03.pdf File-Format: Application/pdf File-Function: Number: 2023-EQM-03 Classification-JEL: Keywords: Horizontal mergers; Malmquist productivity index; Hick-Moorsteen productivity index; Convex and Nonconvex Nonparametric Technologies Handle: RePEc:ies:wpaper:E202305 Template-Type: ReDIF-Paper 1.0 Author-Name: Guilhem Lecouteux Author-X-Name-First: Guilhem Author-X-Name-Last: Lecouteux Author-Workplace-Name: Université Côte d’Azur, CNRS, GREDEG UMR 7321, 250 rue Albert Einstein, 06560 Valbonne, France Author-Email: Author-Name: Ivan Mitrouchev Author-X-Name-First: Ivan Author-X-Name-Last: Mitrouchev Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: i.mitrouchev@ieseg.fr Title: Inferring Welfare from Observed Choices: An Axiomatic Approach Abstract:Welfare economics lacks a consensus on how to infer welfare from inconsistent choices. We argue that the di?erent approaches proposed in the literature rely on a set of values endorsed by welfare economists, de?ned as axioms about the structure of normative preferences and their relation to individual choices. We identify four main axioms: (i) normative individualism, (ii) choice context-independence, (iii) normative context-independence, and (iv) consumer sovereignty, which are satis?ed in standard welfare economics. These axioms however become potentially incompatible when preferences are context-dependent. We show that focusing on the principles which guide welfare economists to elicit welfare from inconsistent choices open promising perspectives of research at the intersection of behavioural welfare economics and social choice theory. Length: 22 pages Creation-Date: 2023-08 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/07/2023-iRisk-03.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-03 Classification-JEL: B41, D71, D90, I31 Keywords: welfare – choice – preference – context – values – social choice theory Handle: RePEc:ies:wpaper:E202306 Template-Type: ReDIF-Paper 1.0 Author-Name: Ivan Mitrouchev Author-X-Name-First: Ivan Author-X-Name-Last: Mitrouchev Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: i.mitrouchev@ieseg.fr Title: From Decision Utility to Experienced Utility: Back and Forth Abstract:This article reviews and discusses the axiomatic foundations of the normative theory of experienced utility proposed by Kahneman et al. (1997). First, I emphasise some philosophical problems with the axioms of Separability and Time Neutrality, which may require to reconsider them. Second, I discuss the implications of taking remembered utility rather than moment utility as the informational basis of the theory. Third, although the theoretical discrepancy between decision utility and experienced utility is intuitively appealing, signi?cant evidence about such a discrepancy is lacking, which may lead us back to decision utility as a welfare-relevant criterion. Length: 29 pages Creation-Date: 2023-08 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/07/2023-iRisk-04.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-04 Classification-JEL: B41, D60, D90, I31 Keywords: happiness – time – utility – welfare Handle: RePEc:ies:wpaper:E202307 Template-Type: ReDIF-Paper 1.0 Author-Name: Ernst Fehr Author-X-Name-First: Ernst Author-X-Name-Last: Fehr Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: ernst.fehr@econ.uzh.ch Author-Name: Thomas Epper Author-X-Name-First: Thomas Author-X-Name-Last: Epper Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221- LEM - Lille Economie Management F-59000 Lille, France Author-Email: thomas.epper@cnrs.fr Author-Name: Julien Senn Author-X-Name-First: Julien Author-X-Name-Last: Senn Author-Workplace-Name: Department of Economics, Zurich University. Blûmlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: julien.senn@econ.uzh.ch Title: Social Preferences and Redistributive Politics Abstract: Increasing inequality and associated egalitarian sentiments have put redistribution on the political agenda. In this paper, we take advantage of Swiss direct democracy, where people voted several times on strongly redistributive policies in national plebiscites, to study the link between social preferences and a behaviorally validated measure of support for redistribution in a broad sample of the Swiss population. Using a novel nonparametric Bayesian clustering algorithm, we uncover the existence of three fundamentally distinct preference types in the population: predominantly selfish, inequality averse and altruistic individuals. We show that inequality averse and altruistic individuals display a much stronger support for redistribution, particularly if they are more affluent. In addition, we show that previously identified key motives underlying opposition to redistribution – such as the belief that effort is an important driver of individual success – play no role for selfish individuals but are highly relevant for other-regarding individuals. Finally, while inequality averse individuals display strong support for policies that primarily aim to reduce the incomes of the rich, altruistic individuals are considerably less supportive of these policies. Thus, knowledge about the qualitative properties of social preferences and their distribution in the population also provides insights into which preference type supports specific redistributive policies, which has implications for how policy makers may design redistributive packages to maximize political support for them. Length: 75 Creation-Date: 2023-10 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/10/2023-iRisk-05.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-05 Classification-JEL: D31, D72, H23, H24 Keywords: Social Preferences, Altruism, Inequality Aversion, Preference Heterogeneity, Demand for Redistribution Handle: RePEc:ies:wpaper:E202308 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Epper Author-X-Name-First: Thomas Author-X-Name-Last: Epper Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management F-59000 Lille, France Author-Email: thomas.epper@cnrs.fr Author-Name: Julien Senn Author-X-Name-First: Julien Author-X-Name-Last: Senn Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: julien.senn@econ.uzh.ch Author-Name: Ernst Fehr Author-X-Name-First: Ernst Author-X-Name-Last: Fehr Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: ernst.fehr@econ.uzh.ch Title: The Missing Type: Where Are the Inequality Averse (Students)? Abstract: The empirical evidence on the existence of social preferences—or lack thereof—is predominantly based on student samples. Yet, knowledge about whether these findings can be extended to the general population is still scarce. In this paper, we compare the distribution of social preferences in a student and in a representative sample. Using descriptive analysis and a rigorous clustering approach, we show that the distribution of the general population’s social preferences fundamentally differs from the students’ distribution. In the general population, three types emerge: an inequality averse, an altruistic, and a selfish type. In contrast, only the altruistic and the selfish types emerge in the student population. The absence of an inequality averse type in the student population is particularly striking considering the fact that this type comprises about 50 percent of the individuals in the general population sample. Using structural estimation, we show that differences in age and education are likely to explain these results. Younger and more educated individuals—which typically characterize students— not only tend to have lower degrees of other-regardingness but this reduction in other-regardingness basically nullifies behindness aversion among students. Differences in income, however, do not seem to affect social preferences. These findings are important in view of the fact that almost all applications of social preference ideas involve the general population rather than students. Length: 33 Creation-Date: 2023-10 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/10/2023-iRisk-06.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-06 Classification-JEL: C80, C90, D30, D63 Keywords: Social Preferences, Altruism, Inequality Aversion, Preference Heterogeneity, Subject pools, Sample Selection Handle: RePEc:ies:wpaper:E202309 Template-Type: ReDIF-Paper 1.0 Author-Name: Ernst Fehr Author-X-Name-First: Ernst Author-X-Name-Last: Fehr Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: ernst.fehr@econ.uzh.ch Author-Name: Thomas Epper Author-X-Name-First: Thomas Author-X-Name-Last: Epper Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France; iRisk Center on Risk and Uncertainty Author-Email: thomas.epper@cnrs.fr Author-Name: Julien Senn Author-X-Name-First: Julien Author-X-Name-Last: Senn Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: julien.senn@econ.uzh.ch Title: The Fundamental Properties, Stability and Predictive Power of Distributional Preferences Abstract: Parsimony is a desirable feature of economic models but almost all human behaviors are characterized by vast individual variation that appears to defy parsimony. How much parsimony do we need to give up to capture the fundamental aspects of a population’s distributional preferences and to maintain high predictive ability? Using a Bayesian nonparametric clustering method that makes the trade-off between parsimony and descriptive accuracy explicit, we show that three preference types—an inequality averse, an altruistic and a predominantly selfish type—capture the essence of behavioral heterogeneity. These types independently emerge in four different data sets and are strikingly stable over time. They predict out-of-sample behavior equally well as a model that permits all individuals to differ and substantially better than a representative agent model and a state-of-the-art machine learning algorithm. Thus, a parsimonious model with three stable types captures key characteristics of distributional preferences and has excellent predictive power. Length: 57 Creation-Date: 2023-12 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2023/12/2023-iRisk-07.pdf File-Format: Application/pdf File-Function: Number: 2023-iRisk-07 Classification-JEL: D31, D63, C49, C90 Keywords: Distributional Preferences, Altruism, Inequality Aversion, Preference Heterogeneity, Stability, Out-of-Sample Prediction, Parsimony, Bayesian Nonparametrics. Handle: RePEc:ies:wpaper:E202310 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Epper Author-X-Name-First: Thomas Author-X-Name-Last: Epper Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management F-59000 Lille, France Author-Email: thomas.epper@cnrs.fr Author-Name: Julien Senn Author-X-Name-First: Julien Author-X-Name-Last: Senn Author-Workplace-Name: Department of Economics, Zurich University. Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: julien.senn@econ.uzh.ch Author-Name: Ernst Fehr Author-X-Name-First: Ernst Author-X-Name-Last: Fehr Author-Workplace-Name: Department of Economics, Zurich University. Blüumlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: ernst.fehr@econ.uzh.ch Title: Social Preferences Across Subject Pools: Students vs. General Population Abstract: The empirical evidence on the existence of social preferences—or lack thereof—is predominantly based on student samples. Yet, knowledge about whether these findings can be extended to the general population is still scarce. In this paper, we compare the distribution of social preferences in a student and in a representative general population sample. Using descriptive analysis and a rigorous clustering approach, we show that the distribution of the general population’s social preferences fundamentally differs from the students’ distribution. In the general population, three types emerge: an inequality averse, an altruistic, and a selfish type. In contrast, only the altruistic and the selfish types emerge in the student population. We show that differences in age and education are likely to explain these results. Younger and more educated individuals—which typically characterize students—not only tend to have lower degrees of other-regardingness but this reduction in other-regardingness radically reduces the share of inequality aversion among students. Differences in income, however, do not seem to affect social preferences. We corroborate our findings by examining nine further data sets that lead to a similar conclusion: students are far less inequality averse than the general population. These findings are important in view of the fact that almost all applications of social preference ideas involve the general population. Length: 41 Creation-Date: 2024-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/01/2024-iRisk-01.pdf File-Format: Application/pdf File-Function: Number: 2024-iRisk-01 Classification-JEL: C80, C90, D30, D63 Keywords: Social Preferences, Altruism, Inequality Aversion, Preference Heterogeneity, Subject pools, Sample Selection Handle: RePEc:ies:wpaper:E202401 Template-Type: ReDIF-Paper 1.0 Author-Name: Aljosha Henkel Author-X-Name-First: Aljosha Author-X-Name-Last: Henkel Author-Workplace-Name: KOF Swiss Economic Institute, ETH Zurich, Leonhardstrasse 21, 8092 Zurich, Switzerland Author-Email: henkel@kof.ethz.ch Author-Name: Ernst Fehr Author-X-Name-First: Ernst Author-X-Name-Last: Fehr Author-Workplace-Name: Department of Economics, University of Zurich, Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: ernst.fehr@econ.uzh.ch Author-Name: Julien Senn Author-X-Name-First: Julien Author-X-Name-Last: Senn Author-Workplace-Name: Department of Economics, University of Zurich, Blümlisalpstrasse 10, 8006 Zurich, Switzerland Author-Email: julien.senn@econ.uzh.ch Author-Name: Thomas Epper Author-X-Name-First: Thomas Author-X-Name-Last: Epper Author-Workplace-Name: IESEG School of Management, University of Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France Author-Email: thomas.epper@cnrs.fr Title: Beliefs about Inequality and the Nature of Support for Redistribution Abstract: Do beliefs about inequality depend on distributive preferences? What is the joint role of preferences and beliefs about inequality for support for redistribution? We study these questions in a staggered experiment with a representative sample of the Swiss population conducted in the context of a vote on a highly redistributive policy proposal. Our sample comprises a majority of inequality averse subjects, a sizeable group of altruistic subjects, and a minority of predominantly selfish subjects. Irrespective of preference types, individuals vastly overestimate the extent of income inequality. An information intervention successfully corrects these large misperceptions for all types, but essentially does not affect aggregate support for redistribution. These results hide, however, important heterogeneity because the effects of beliefs about inequality for demand for redistribution are preference-dependent: only affluent inequality averse individuals, but not the selfish and altruistic ones, significantly reduce their support for redistribution. These findings cast a new light on the seemingly puzzling result that, in the aggregate, large changes in beliefs about inequality often do not translate into changes in demand for redistribution. Length: 55 Creation-Date: 2024-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/01/2024-iRisk-02.pdf File-Format: Application/pdf File-Function: Number: 2024-iRisk-02 Classification-JEL: D31, D72, H23, H24 Keywords: Social Preferences, Beliefs about Inequality, Preferences for Redistribution, Information, Inequality Aversion Handle: RePEc:ies:wpaper:E202402 Template-Type: ReDIF-Paper 1.0 Author-Name: Jean-Philippe Boussemart Author-X-Name-First: Jean-Philippe Author-X-Name-Last: Boussemart Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 – LEM, F-59000, France Author-Email: jp.boussemart@ieseg.fr Author-Name: Salomé Kahindo Author-X-Name-First: Salomé Author-X-Name-Last: Kahindo Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 – LEM, F-59000, France Author-Email: s.kahindo@ieseg.fr Author-Name: Raluca Parvulescu Author-X-Name-First: Raluca Author-X-Name-Last: Parvulescu Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 – LEM, F-59000, France Author-Email: r.parvulescu@ieseg.fr Title: L’impact de l’inflation sur la distribution des gains de productivité de l’agriculture française Abstract: It is imperative to consider the impact of monetary erosion when examining the distribution of productivity gains through variations in the prices of inputs and outputs within the agricultural sector. In this study, we will utilize productivity surplus accounts to comprehensively analyze how monetary erosion affects the allocation of price advantages among stakeholders involved in agricultural production. In light of the current backdrop of resurging general inflation and a reversal in food price trends, we then present an empirical analysis of productivity gains in the French agriculture sector spanning from 1959 to 2022. Our objective is to precisely assess how inflation affects the distribution of the productivity surplus among the various participants in the process, including customers, farmers, suppliers, the government, landowners, financial institutions, and others. Length: 29 Creation-Date: 2024-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/02/2024-EQM-01.pdf File-Format: Application/pdf File-Function: Number: 2024-EQM-01 Classification-JEL: Keywords: total factor productivity, surplus account, inflation, agriculture Handle: RePEc:ies:wpaper:E202403 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management and IRES, UCLouvain Author-Email: Author-Name: Bram De Rock Author-X-Name-First: Bram Author-X-Name-Last: De Rock Author-Workplace-Name: Université libre de Bruxelles (ECARES), KU Leuven and CEPR Author-Email: Author-Name: Paula E. Gobbi Author-X-Name-First: Paula E. Author-X-Name-Last: Gobbi Author-Workplace-Name: Université libre de Bruxelles (ECARES) and CEPR Author-Email: Title: Economics and family structures Abstract: Household decisions are one of the key elements impacting many dimensions of any economy. Decisions at the household level, have strong repercussions at the macroeconomic level. For instance, decisions regarding how much to save, a ect the economy investment possibilities, or decisions regarding children's education a ect the overall level of human capital. Economists who study household behaviour have focused on the understanding of nuclear families. However, family types are heterogeneous across and within countries, both in the past and in present times. This paper reviews the economic literature on family types, focusing on nuclear, stem, and complex families. We establish how each family type could relate to the basic ingredients of standard structural models of household decisions. This overview sets the stage for an interesting research avenue to improve the structural models of household decision making. The focus on nuclear families limits our capacity to analyse the impact of institutional phenomena or public policies. More research to understand the determinants and functioning of other types of families hence matters both from an academic and a policy perspective. Length: 40 Creation-Date: 2023-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2023-IFlame-01.pdf File-Format: Application/pdf File-Function: Number: 2023-iFlame-01 Classification-JEL: Keywords: Family structures, Economic development, Household decisions, Nuclear families, Complex families, Stem families Handle: RePEc:ies:wpaper:E202404 Template-Type: ReDIF-Paper 1.0 Author-Name: Tat-kei Lai Author-X-Name-First: Tat-kei Author-X-Name-Last: Lai Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, France Author-Email: t.lai@ieseg.fr Author-Name: Travis Ng Author-X-Name-First: Travis Author-X-Name-Last: Ng Author-Workplace-Name: The Chinese University of Hong Kong, Hong Kong Author-Email: TravisNg@cuhk.edu.hk Title: Does Competition Increase Advertising? Abstract: In Milgrom-Roberts (1986)’s model, introducing the possibility to die before customers’ repurchase alters the firm’s advertising incentive to signal hidden product quality. Two opposing forces result, one mechanical and the other strategic. Depending on their relative strengths, the equilibrium advertising can either rise or fall. To the extent that competition threatens firms’ survival, our result explains the mixed findings on the causal effects of competition on advertising. Introducing firm deaths in their model offers a new test of whether advertising signals quality, still an unsettled empirical question since Nelson (1974) first articulates advertising as a signal. Length: 42 Creation-Date: 2023-11 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2023-IFlame-02.pdf File-Format: Application/pdf File-Function: Number: 2023-iFlame-02 Classification-JEL: Keywords: Advertising; Signaling; Competition; Product Quality; Introductory pricing Handle: RePEc:ies:wpaper:E202405 Template-Type: ReDIF-Paper 1.0 Author-Name: Yuichi Furukawa Author-X-Name-First: Yuichi Author-X-Name-Last: Furukawa Author-Workplace-Name: Chuo University and RIETI Author-Email: Author-Name: Tat-kei Lai Author-X-Name-First: Tat-kei Author-X-Name-Last: Lai Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS UMR 9221 - LEM - Lille Economie Management Author-Email: Author-Name: Kenji Sato Sato Author-X-Name-First: Kenji Author-X-Name-Last: Sato Author-Workplace-Name: Osaka Metropolitan University Author-Email: Title: Love of Novelty: A Source of Innovation-Based Growth... or Underdevelopment Traps? Abstract: This study develops a new dynamic general equilibrium model to explore the role of people’s love of novelty as a cultural preference in innovation and innovation-based growth. The model considers (a) an infinitely lived representative consumer who has standard love-of-variety preferences for differentiated products and additional love-of-novelty preferences for new products, and (b) technological progress driven by two costly and time-consuming innovation activities, new product development and existing product development. We demonstrate that consumers’ love of novelty is a source of innovation-based growth, wherein economies with a moderate love of novelty can achieve innovation and long-run growth through endogenous cycles between periods in which new product development is active and those in which existing product development is active. However, if love of novelty preference is too weak or too strong, the economy is caught in an underdevelopment trap with less innovation and no long-run growth. We also provide some suggestive empirical evidence that supports our theoretical predictions. Length: 40 Creation-Date: 2023-12 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2023-IFlame-03.pdf File-Format: Application/pdf File-Function: Number: 2023-iFlame-03 Classification-JEL: E71; O40 Keywords: Cultural preferences, macro-based behavioral economics; innovation and growth cycles; endogenous growth; underdevelopment traps Handle: RePEc:ies:wpaper:E202406 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IÉSEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France and IRES, Université catholique de Louvain Author-Email: t.baudin@ieseg.fr Author-Name: Robert Stelter Author-X-Name-First: Robert Author-X-Name-Last: Stelter Author-Workplace-Name: University of Basel, Faculty of Business and Economics and Max Planck Institute for Demographic Research Author-Email: robert.stelter@unibas.ch Title: Kinder, Küche und Kirche, Family policies and fertility in the Third Reich Abstract: After coming to power in 1933, the National Socialist German Workers’ Party employed propaganda to reinforce the dominance of the Aryan Volk and swiftly implemented a series of economic and proactive family policies. Among these measures, the ’Law for the Encouragement of Marriage’ emerged as one of the most far-reaching and distortionary policies in the history of family policy. Its primary aim was to restrict women’s labor force participation in order to alleviate unemployment and promote the growth of the Aryan population. We evaluate the impact of National Socialism on marital fertility in (West) Germany by analyzing census data from 1933, 1939, and 1970. Our findings indicate that the first years of domination by the Nazis are associated with a transitory increase in fertility until 1938. Importantly, German women who were fully exposed to the Nazi family policies experienced a smaller rise in marital fertility as measured in 1938, compared to their compatriots who had only partial exposure. This relative decline can be attributed to the severe penalties imposed on childless, unmarried individuals, which incentivized Germans to enter into lower-quality and less fertile unions. The negative selection effect, depressing fertility, persisted until 1970, and represents the primary legacy of Nazism on the fertility of German women. Length: 44 Creation-Date: 2023-12 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2023-IFlame-04.pdf File-Format: Application/pdf File-Function: Number: 2023-iFlame-04 Classification-JEL: J1, D1, N3 Keywords: Third Reich, Fertility, Marriage, Divorce, Female labor force participation Handle: RePEc:ies:wpaper:E202407 Template-Type: ReDIF-Paper 1.0 Author-Name: Thomas Baudin Author-X-Name-First: Thomas Author-X-Name-Last: Baudin Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS UMR 9221 - LEM - Lille Economie Management, F-59000 Lille, France and IRES, UCLouvain, Belgium Author-Email: t.baudin@ieseg.fr Author-Name: David de la Croix Author-X-Name-First: David Author-X-Name-Last: de la Croix Author-Workplace-Name: IRES/LIDAM, UCLouvain, Belgium and CEPR, Paris Author-Email: david.delacroix@uclouvain.be Title: The Emergence of the Child Quantity-Quality Tradeoff - insights from early modern academics Abstract: Reflect on the escape from a stagnant or Malthusian system. If this transformation is propelled by human capital, it should be spearheaded by individuals possessing elevated humancapital. To explore this hypothesis, we investigate the connection between family size and human capital among academics in Northern Europe in the two centuries leading up to the Industrial Revolution. We gauge scholars’ human capital using a novel approach based on their publications. We find that scholars with a high number of publications shifted from having more siblings to having fewer than others during the first half of the 18th century. This shift is consistent with an evolutionary growth model in which the initial Malthusian constraint leads the high human capital families to reproduce more, before being endogenously substituted by a Beckerian constraint with a child quality-quantity tradeoff. Our results support an extension of the Galor and Moav (2002)’s approach, in which the decline of Malthusian constraints is linked to human capital accumulation during the 18th century. Length: 60 Creation-Date: 2024-01 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2024-IFlame-01.pdf File-Format: Application/pdf File-Function: Number: 2024-iFlame-01 Classification-JEL: N3, J1, O4 Keywords: Universities, Academies, Fertility, Scholars, Human Capital Handle: RePEc:ies:wpaper:E202408 Template-Type: ReDIF-Paper 1.0 Author-Name: Federica Braccioli Author-X-Name-First: Federica Author-X-Name-Last: Braccioli Author-Workplace-Name: IAE-CSIC and Barcelona School of Economics Author-Email: Author-Name: Paolo Ghinetti Author-X-Name-First: Paolo Author-X-Name-Last: Ghinetti Author-Workplace-Name: Università del Piemonte Orientale Author-Email: Author-Name: Simone Moriconi Author-X-Name-First: Simone Author-X-Name-Last: Moriconi Author-Workplace-Name: IESEG School of Management (LEM-CNRS 92218), CESifo and ICM Author-Email: Author-Name: Costanza Naguib Author-X-Name-First: Costanza Author-X-Name-Last: Naguib Author-Workplace-Name: University of Bern Author-Email: Author-Name: Michele Pellizzari Author-X-Name-First: Michele Author-X-Name-Last: Pellizzari Author-Workplace-Name: University of Geneva, CEPR and IZA Author-Email: Title: Education expansion, college choice and labour market success Abstract: We study the choice of acquiring STEM college education using variation induced by the proximity to universities offering different types of programs. We adopt the methodologybyHeckmanandPinto(2018)allowingtheidentificationofthedistribution of response types and treatment effects with multiple unordered choices. We combine survey data for Italy with historical information about the founding dates of all universities and faculties. Wefindthat most compliers are women at the margin of choosing STEM education versus not going to college. Expanding the supply of STEM education could reduce the gender gap in STEM by 20%. Length: 65 Creation-Date: 2024-02 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2024-IFlame-02.pdf File-Format: Application/pdf File-Function: Number: 2024-iFlame-02 Classification-JEL: I23, I26, I28, J31 Keywords: Monotonicity, Returns to Education, STEM, Instrumental variables Handle: RePEc:ies:wpaper:E202409 Template-Type: ReDIF-Paper 1.0 Author-Name: Tat-kei Lai Author-X-Name-First: Tat-kei Author-X-Name-Last: Lai Author-Workplace-Name: IESEG School of Management, Univ. Lille, CNRS, UMR 9221 - LEM - Lille Economie Management, France Author-Email: t.lai@ieseg.fr Author-Name: Travis Ng Author-X-Name-First: Travis Author-X-Name-Last: Ng Author-Workplace-Name: The Chinese University of Hong Kong, Hong Kong Author-Email: TravisNg@cuhk.edu.hk Title: Does Restricting Outsiders Always Lower Price and Benefit Insiders? Abstract: Policies that restrict outsiders are common. Some justifications include protecting insiders from high price and leaving more of the concerned products to insiders. Sometimes these policies fail to work because outsiders can get around the restrictions. In a model in which a policy of restricting outsiders is anticipated, we find that if the policy works, it only sometimes lowers the price. When the price does decrease, the product quality decreases too. Not every insider would benefit equally; those insiders who likely suffer are identified. While restricting outsiders may or may not reduce insiders’ consumer surplus, outsiders and the producer are always worse off. They therefore would find ways to get around the restrictions. Evaluating these policies must (a) take into account the possibility that they might not work at all, (b) check their effects beyond just price if they do work. Length: 34 Creation-Date: 2024-02 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/03/2024-IFlame-03.pdf File-Format: Application/pdf File-Function: Number: 2024-iFlame-03 Classification-JEL: K25, K29, L25, L51, R38 Keywords: Product quality; Customer restrictions; Vertical restraints; Foreign restrictions; Discrimination Handle: RePEc:ies:wpaper:E202410 Template-Type: ReDIF-Paper 1.0 Author-Name: Haleh Delnava Author-X-Name-First: Haleh Author-X-Name-Last: Delnava Author-Workplace-Name: Institute of Manufacturing Information & System, National Cheng Kung University, Taiwan Author-Email: halehh.del@gmail.com Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: Univ.Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, Lille F-59000, France Author-Email: k.kerstens@ieseg.fr Author-Name: Timo Kuosmanen Author-X-Name-First: Timo Author-X-Name-Last: Kuosmanen Author-Workplace-Name: Department of Economics, University of Turku, Turku, Finland Author-Email: timo.kuosmanen@utu.fi Author-Name: Zhiyang Shen Author-X-Name-First: Zhiyang Author-X-Name-Last: Shen Author-Workplace-Name: IESEG School of Management, CNRS, UMR 9221 - LEM - Lille Économie Management, Lille F-59000, France Author-Email: z.shen@ieseg.fr Title: Semi-parametric Estimation of Convex and Nonconvex By-Production Technologies Abstract: The emergence of the by-production technology as an alternative foundation for a pollution-generating technology represents a turning point in the environmental literature given its compatibility with the law of thermodynamics and the material balance principle. This approach considers two independent technologies: a primary production technology, and a residual-generating technology. The classical by-production technology can be estimated using parametric and nonparametric techniques. Alternatively, this study aims to identify the impact of the convexity assumption in a semi-parametric framework. We examine four specifications: (i) two relate to the error term, which may be either composite or deterministic, and (ii) other specifications incorporate either convexity or nonconvexity assumptions. Furthermore, we evaluate the out of-sample predictive performance of these alternative approaches. To validate our estimation approach, we conduct an empirical case study encompassing 47 Chinese cities from 2011 to 2019. Our findings reveal that both StoNED by-production models exhibit a higher consistency than deterministic ones. Moreover, we witness a parallel behavior in that relaxing convexity/concavity assumption generates a lower bound for both sub-technologies. Exploring the predictive power of nonconvex estimators on unseen data yields more precise out-of-sample predictions in both stochastic and deterministic settings. Length: 36 Creation-Date: 2024-03 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/04/2024-EQM-02.pdf File-Format: Application/pdf File-Function: Number: 2024-EQM-02 Classification-JEL: Economics; Environment; Technology Keywords: By-production technology; StoNED, Convex technology; Nonconvex technology Handle: RePEc:ies:wpaper:E202411 Template-Type: ReDIF-Paper 1.0 Author-Name: Mahmood Mehdiloo Author-X-Name-First: Mahmood Author-X-Name-Last: Mehdiloo Author-Workplace-Name: Department of Mathematics and Applications, University of Mohaghegh Ardabili, Ardabil, Iran Author-Email: m.mehdiloozad@gmail.com, m.mehdiloo@uma.ac.ir Author-Name: Jafar Sadeghi Author-X-Name-First: Jafar Author-X-Name-Last: Sadeghi Author-Workplace-Name: Edwards School of Business, University of Saskatchewan, Saskatoon, Canada Author-Email: sadeghi@edwards.usask.ca Author-Name: Kristiaan Kerstens Author-X-Name-First: Kristiaan Author-X-Name-Last: Kerstens Author-Workplace-Name: Univ. Lille, CNRS, IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, Lille F-59000, France Author-Email: k.kerstens@ieseg.fr Title: Top Down Axiomatic Modeling of Metatechnologies and Evaluating Directional Economic Efficiency Abstract: We contrast two distinct axiomatic approaches to model metatechnologies. The traditional bottom up approach revolves around axioms characterizing group technologies. In contrast, our innovative top down approach introduces a new set of axioms that directly identify the metatechnology itself. These new axioms lead to discover new algebraic statements of two metatechnologies: in particular, one metatachnology maintaining a new within-group convexity axiom, and another one without it that is essentially nonconvex. Through these metatechnology specific axioms, we derive novel minimum extrapolation results for these two metatechnologies. We adopt a directional economic inefficiency concept as a general measurement framework and its additive decomposition into technical and allocative components. We develop single-stage linear programs for the measurement of directional economic and technical inefficiencies within these two metatechnologies. Our key results are illustrated using a numerical illustration. We manage to establish links between this new top down approach and some key findings from the existing bottom up metatechnology literature. Length: 43 Creation-Date: 2024-05 Revision-Date: Publication-Status: File-URL: https://www.ieseg.fr/wp-content/uploads/2024/05/2024-EQM-03.pdf File-Format: Application/pdf File-Function: Number: 2024-EQM-03 Classification-JEL: Keywords: Data envelopment analysis; Metatechnology; Axiomatic approach; Convexity; Directional economic efficiency Handle: RePEc:ies:wpaper:E202412