In this paper, we study the return to human capital variables for wages of workers observed in Tunisian matched worker-firm data in 1999. We develop a new method based on multivariate analysis of firm characteristics, which allows us most of the benefits obtained by introducing firm dummies in...

In this paper we analyze firms' ability to tacitly collude on pricesin an infinitely repeated duopoly game of vertical productdifferentiation. We show that firms collude if and only if their discountfactor is high enough, i.e. if they value future profits sufficiently. We alsoshow that a lower...

Competition has long been regarded as productivity enhancing. Understanding the mechanism by which competition affects innovation and productivity is therefore an important topic for economic policy. The main contribution of this paper is to disentangle the relationship between competition and...

As it is known, there is no rule satisfying Additivity on the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-Additivity. We find that µ-Additivity, together with two quite compelling axioms, Anonymity and Continuity,...

From Tunisian matched worker-firm data in 1999, we study the returns to human capital for workers observed in two leading manufacturing sectors. Workers in the mechanical and electrical industries (IMMEE) benefit from higher returns to human capital than their counterparts in the...

In this paper, we study the return to human capital variables for wages of workers observed in Tunisian matched worker-firm data in 1999. This reveals us how returns to human capital in a Less Developed Country like Tunisia may differ from the industrial countries usually studied with matched...

This paper focuses on two new properties for bankruptcy rules: preeminence and sustainability. Theypertain to situations when the claims of some agents are much larger than the claims of otheragents. They differ in the way the recommend agents with small claims to be treated. Preeminencerequires...

This paper provides a new characterization of the Talmud rule by means of a new property, called securement. This property says that any agent holding a feasible claim will get at least one nht of her claim, where n is the number of agents involved. We show that securement together with a weak...

In this paper, we draw some lessons from the Tunisian experience of social reforms and associated civil conflict. Our main interest is the riots that occurred after subsidy cuts and the attempts at substitution of price subsidies by direct cash transfers. We propose new welfare indicators apt to...

In this paper, we show that downstream mergers increase the incentives of an up-stream firm to invest in cost-reducing R&D. The upstream firm revenues increase with industry profits, which in turn increase with concentration downstream and this explains the positive link between concentration...