Why are there areas with persistenly low levels of income or consumption? This could result from the concentration of households with a low capital endowment or from variations in households’ environment. Peru is a country with a very much fragmented topography and climate, that combines dry...

Fiscal constraints and policy changes to improve effectiveness of programs in reducing poverty has progressively led the international community to use tools for reaching the poor. Targeting antipoverty interventions is one of them. This paper aims at providing a general review of experiences of...

In this article, we present a reference case of mean field games. This case can be seen as a reference for two main reasons. First, the case is simple enough to allow for explicit resolution: Bellman functions are quadratic, stationary measures are normal and stability can be dealt with...

A firm chooses a price and the product information it discloses to a consumer whose tastes are privately known. We provide a necessary and sufficient condition on the match function for full disclosure to be the unique equilibrium outcome whatever the costs and prior beliefs about product and...

Improved consumer information about horizontal aspects of products of similar quality leads to better consumer matching but also to higher prices, so consumer surplus can go up or down, while profits rise. With enough quality asymmetry, though, the higher-quality (and hence larger) firm's price...

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...