Postel-Vinay and Robin' (2002) sequential auction model is extended to allow for aggregate productivity shocks. Workers exhibit permanent differences in ability while firms are identical. Negative aggregate productivity shocks induce job destruction by driving the surplus of matches with low...

When a deficit occurs in the funding of collective goods, it is usually covered by raising theamount of taxes or by rationing the supply of the goods. This article compares the efficiencyof these institutions. We report the results of a 2x2 experiment based on a game in the firststage of which...

When a deficit occurs in the funding of collective goods, it is usually covered by raising the amount of taxes or by rationing the supply of the goods. This article compares the efficiency of these institutions. We report the results of a 2x2 experiment based on a game in the first stage of...

Rational individuals who perceive information sequentially are confronted to cognitive dissonance and dynamic uncertainty in a way that sets a natural limit to the ex post efficiency of their choices. From the normative perspective which ignores this dynamic uncertainty, their rationality seems...

This paper discusses the demand for the arts from a theoretical and an empirical perspectives. We suggest that the demand for the arts is price elastic and that art is a luxury good. Education, and learning experiences are also important factors affecting that demand. Ce texte traite de la...