We document for the US and Continental Europe that home-production time remained essentially flat during the last 50 years while changes in market time and leisure offset each other. We then focus on the US and France during 1970-2005 which are on the opposite sides of the spectrum: while US...

This paper constructs a dynamic model of health insurance to evaluate the short- and long run effects of policies that prevent firms from conditioning wages on health conditions of their workers, and that prevent health insurance companies from charging individuals with adverse health conditions...

I study the effects of the Future to Discover Project, a randomized experiment in which Canadian high school students were either invited to participate in career planning workshops or were made eligible for an $8,000 college grant. By matching the experimental data to post-secondary institution...

We scrutinize the use of value at risk as traders' limit in banks. Thereby, we compare a bank with uninformed traders dealing on a perfect capital market, with a bank in which traders receive a noisy signal about the future price of the stock they are dealing in. Additionally, they are able to...

We study how funding agencies should set budget caps for competitive grants. We show that budget caps influence the researchers' submission strategy and, in particular, whether they steer their project choice towards the agencies' favorite projects, and the level of funds they request. The...

We design a laboratory experiment to test the importance of wealth as a channel for financial contagion across markets with unrelated fundamentals. Specifically, in a sequential global game, we analyze the decisions of a group of investors that hold assets in two markets. We consider two...

A service provider sells to homogenous risk-averse consumers through a two-part tariff. The consumers have uncertain tastes toward the service. They subscribe the service before the uncertainty resolves. In contrast with the common view that a monpolist's optimal two-part tariff for homogeneous...

We examine the impact of the NCAA Men's Basketball Tournament on college students' drinking behavior using a nationally representative sample of American institutions. While success in intercollegiate athletics may augment the visibility of a university to prospective students and thereby...