This paper warns against the use of Marshallian welfare loss in applied analysis of market power. We show how to compute the Hicksian deadweight loss from an ordinary demand. Then, from an experiment using real data on twenty-one sectors of the French food industry, we find that the Marshallian...

[eng] Losses of Welfare and Market Power in the French Food Industry by Pascal Lavergne, Vincent Réquillart and Michel Simioni . We study the practical problems of estimating losses of welfare resulting from market power. Particular attention is paid to the specification of demand functions,...

We consider a principal–agent model of environmental regulation with adverse selection, where firms are regulated through contracts. We show how the model allows to recover information on structural cost parameters. We use a semiparametric method to estimate consistently such parameters...

We develop a novel approach to building checks of parametric regression models when many regressors are present, based on a class of sufficiently rich semiparametric alternatives, namely single-index models. We propose an omnibus test based on the kernel method that performs against a sequence...

In empirical research, one commonly aims to obtain evidence in favor of restrictions on parameters, appearing as an economic hypothesis, a consequence of economic theory, or an econometric modeling assumption. I propose a new theoretical framework based on the Kullback–Leibler information to...

We consider conditional moment models under semi-strong identification. Identification strength is directly defined through the conditional moments that flatten as the sample size increases. Our new minimum distance estimator is consistent, asymptotically normal, robust to semi-strong...