We use skin conductance responses and self-reports of hedonic valence to study the emotional basis of cooperation and punishment in a social dilemma. Emotional reaction to free-riding incites individuals to apply sanctions when they are available. The application of sanctions activates a...

This paper studies how the imperfect collateral assignments of patents contribute to "deep pockets'' savings of innovative firms facing random investment opportunities in research and development (R&D) and determine the growth of their innovations, using a version of the Kiyotaki and Moore...

Cet article présente un cas particulier de régression non fondée, lorsqu'une variable dépendante a un coefficient de corrélation simple proche de zéro avec deux autres variables, qui sont en revanche très corrélées entre elles. Dans ce type de régressions, les paramètres mesurant la...

This paper studies under which conditions the share of profit in value-added, financial constraints on investment and capital shortage may foster unemployment and may limit the growth of capital and/or the growth of aggregate demand, in a stock-flow consistent model. The efficiency of...

Are women disproportionately attracted to work environments where cooperation rather than competition is rewarded? This paper reports the results of a real-effort experiment in which participants choose between an individual compensation scheme and a team-based payment scheme. We find that women...

Using a large panel of 6946 French manufacturing firms, this paper investigates the effect of sales, of the cost of capital and of liquidity constraint variables (cash flow or cash stock) on the stock of capital from 1990 to 1999. The user cost elasticity is at the most 0.26 in absolute terms...

This paper experimentally investigates if and how people's competitiveness depends on their own gender and on the gender of people with whom they interact. Participants are given information about the gender of the co-participant they are matched with, they then choose between a tournament or a...

In social dilemmas, leading a team by making heroic efforts may prove costly, especially when the followers are not adequately motivated to make similar sacrifices. Attempting to shed light on what drives people to lead, we devise a two-stage public good experiment with endogenous timing. We...

We study the influence of risk and time preferences on trust and trustworthiness by conducting a field experiment in Vietnamese villages and by estimating the parameters of the Cumulative Prospect Theory and of quasi-hyperbolic time preferences. We find that while probability sensitivity or risk...

En modélisant un arbitrage intertemporel, le désendettement est un choix rationnel en présence d'un rendement marginal des nouveaux investissements inférieur au taux d'intérêt réel sur l'encours de la dette et supérieur au coût d'opportunité des placements des fonds internes. Dans ce...