Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to deviate from the Pigouvian ideal due to administrative or political constraints. This paper derives sufficient statistics, which require a minimum of market information, that...

Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to deviate from the Pigouvian ideal due to administrative or political constraints. This paper derives sufficient statistics, which require a minimum of market information, that...

How effective is fact checking in countervailing "alternative facts,'' i.e., misleading statements by politicians? In a randomized online experiment during the 2017 French presidential election campaign, we subjected subgroups of 2480 French voters to alternative facts by the extreme-right...