In this note, we consider an economy with heterogeneous agents, differing by their time preference rate and by their beliefs. We show that at the Pareto optimum, the representative agent exhibits interesting behavioral properties. More precisely, starting from a standard model with expected...

We address the problem of a social planner who, as in Weitzman (2001), gathers data on discount rates and wants to infer the socially efficient consumption discount rate. We propose an equilibrium approach and we analyse the expression and the properties of the resulting equilibrium discount...

In this paper, we show that behavioral features can be obtained at a group level when the individuals of the group are heterogeneous enough. More precisely, starting from a standard model of Pareto optimal allocations, with expected utility maximizers and exponential dis- counting, but allowing...

When rational but myopic agents negotiate over the exchange of indivisible resources, any restriction to the negotiation protocol may prevent the system from converging to a socially optimal allocation in the general case. This paper addresses this issue by analysing how the confinement to...

This note analyzes some properties of optional two-part pricing in a two-type economy. First, the optimal contracts along the Paretian frontier are described. Then, the duality relation between the Rawlsian program and the discriminating monopoly is demonstrated. Last, this property is used to...

The standard literature on the value of life relies on Yaari’s (1965) model, which includes an implicit assumption of risk neutrality with respect to life duration. To overpass this limitation, we extend the theory to a simple variety of nonadditively separable preferences. The enlargement we...

Nous proposons dans cet article une analyse critique du classement mondial des universités publié chaque année par l’Institut de l’Enseignement supérieur de l’Université Jiao Tong de Shangaï et plus connu sous le nom de « classement de Shangaï ». Après avoir rappelé comment le...

Multiagent resource allocation is a timely and exciting area of research at the interface of Computer Science and Eco- nomics. One of the main challenges in this area is the high complexity of negotiation. In particular, the complexity of the task of identifying rational deals, i.e. deals that...