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Resale Price Maintenance and Consumer Search
No full textWe provide a novel pro-competitive rationale for resale price maintenance (RPM). ,We consider a model where some consumers are fully informed about downstream prices while other consumers are not. When an upstream manufacturer imposes a floor on downstream prices, this qualitatively changes downstream competition— influencing not just the level, but also the dispersion, of prices. The manufacturer optimally imposes a price floor which just eliminates all downstream price dispersion, and this leads to both higher (aggregate) consumer surplus and higher total welfare as compared to the case without RPM
La Chambre criminelle « bouche » de la jurisprudence constitutionnelle en matière de contrôle judiciaire décidé par le procureur européen délégué, à propos de l’arrêt de la chambre criminelle en date du 14 octobre 2025, n° 25-82.111
No full textLa Chambre criminelle confirme la compétence du procureur européen délégué pour prendre des décisions en matière de contrôle judiciaire (art. 696-119 CPP) notamment au regard de son impartialité. De surcroît, elle applique la réserve d’interprétation du Conseil constitutionnel qui unifie les recours contre ces décisions devant le Juge des Libertés et de la Détention, lequel doit statuer sous soixante-douze heures
Dynamic effort choice in high school: costs and benefits of an academic track
Get PDFI investigate high school tracking policies using a dynamic discrete choice model of study programs and unobserved effort. I estimate the model using data from Flanders (Belgium) and perform an ex ante evaluation of a policy that encourages underperforming students to switch to less academically oriented programs. This reduces grade retention by a third and dropout by 11%. Although it decreases college enrollment, the decrease in college graduation is small and insignificant. I also show that modeling effort is important; otherwise, smaller decreases in grade retention and dropout and larger decreases in college enrollment and graduation would be predicted
Plus-values immobilières : la nécessaire recherche de la valeur vénale réelle des biens immobiliers
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Mediated renegotiation
Get PDFWe develop a new approach to contract renegotiation under informational frictions. Specically, we consider mediated mechanisms which cannot be contingent on any subsequent offer, but can generate a new source of asymmetric information between the contracting parties. Taking as a reference the canonical framework of Fudenberg and Tirole (1990), we show that, if mediated mechanisms are allowed, the corresponding renegotiation game admits only one equilibrium allocation, which coincides with the second-best one. Thus, the inefficiencies typically associated to the threat of renegotiation may be completely offset by the design of more sophisticated trading mechanisms