The aim of this paper 1 ?is to explain why there is insufficient long-term capital investment despite the abundant savings collected by a booming financial sector. Special attention is given to understanding the role of today?s accounting and prudential requirements, to grasping their limitations and to underscoring the need for reform to foster long-term capital spending in Europe. This paper shows that International Financial Reporting Standards (IFRS) can affect different financial intermediaries in different ways, and that current prudential rules are likely to prove even more detrimental to long-term investment financing.
{"title":"The Impact on Long-Term Capital Investment of Accounting and Prudential Standards for European Financial Intermediaries","authors":"Samira Demaria, S. Rigot","doi":"10.3917/REDP.285.0935","DOIUrl":"https://doi.org/10.3917/REDP.285.0935","url":null,"abstract":"The aim of this paper 1 ?is to explain why there is insufficient long-term capital investment despite the abundant savings collected by a booming financial sector. Special attention is given to understanding the role of today?s accounting and prudential requirements, to grasping their limitations and to underscoring the need for reform to foster long-term capital spending in Europe. This paper shows that International Financial Reporting Standards (IFRS) can affect different financial intermediaries in different ways, and that current prudential rules are likely to prove even more detrimental to long-term investment financing.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"7 1","pages":"935-968"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80829596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cet article propose une nouvelle methode pour evaluer les e¤ets de l'incertitude d'une rencon-tre et de classement …nal sur l'a-uence dans les stades de Ligue 1. L'issue incertaine d'un match est evaluee a partir des di¤erences relatives de qualite des equipes. Contrairement aux precedentes etudes, ces forces intrinseques sont estimees de maniere aleatoire a partir des di¤erences de budget salarial des clubs et elles sont, par la suite, reevaluees en fonction des resultats observes durant la saison. En outre, l'incertitude de classement …nal est ici modelisee dans un espace de probabilites permettant d'avoir une information statistique plus complete que des indicateurs agreges. Suivant cette approche, trois resultats principaux emergent : (i) l'incertitude d'une rencontre presente un e¤et signi…catif non-lineaire et positif sur l'a-uence dans les stades, (ii) les spectateurs ont des demandes antagonistes en esperant que leur club favori ne soit pas rejoint par des poursuiv-ants durant la saison mais paradoxalement ils souhaitent une incertitude plus elevee concernant le classement …nal, (iii) l'interet du spectateur n'est pas lineairement decroissant en fonction de la hierarchie du classement …nal mais de forme sinusoidale avec un engouement plus important con-cernant l'attribution des places quali…catives en Europa League et pour les equipes luttant contre la relegation. L'interet pour la victoire …nale peut s'averer preponderant pour l'attractivite globale du championnat, mais ce dernier est devenu plus volatile avec les nouvelles capacites …nancieres du PSG. Classi…cation-JEL: C11, D40, Z28
{"title":"Incertitude de classement final et affluence en Ligue 1 française de football : une nouvelle approche","authors":"J. Guironnet","doi":"10.3917/REDP.284.0641","DOIUrl":"https://doi.org/10.3917/REDP.284.0641","url":null,"abstract":"Cet article propose une nouvelle methode pour evaluer les e¤ets de l'incertitude d'une rencon-tre et de classement …nal sur l'a-uence dans les stades de Ligue 1. L'issue incertaine d'un match est evaluee a partir des di¤erences relatives de qualite des equipes. Contrairement aux precedentes etudes, ces forces intrinseques sont estimees de maniere aleatoire a partir des di¤erences de budget salarial des clubs et elles sont, par la suite, reevaluees en fonction des resultats observes durant la saison. En outre, l'incertitude de classement …nal est ici modelisee dans un espace de probabilites permettant d'avoir une information statistique plus complete que des indicateurs agreges. Suivant cette approche, trois resultats principaux emergent : (i) l'incertitude d'une rencontre presente un e¤et signi…catif non-lineaire et positif sur l'a-uence dans les stades, (ii) les spectateurs ont des demandes antagonistes en esperant que leur club favori ne soit pas rejoint par des poursuiv-ants durant la saison mais paradoxalement ils souhaitent une incertitude plus elevee concernant le classement …nal, (iii) l'interet du spectateur n'est pas lineairement decroissant en fonction de la hierarchie du classement …nal mais de forme sinusoidale avec un engouement plus important con-cernant l'attribution des places quali…catives en Europa League et pour les equipes luttant contre la relegation. L'interet pour la victoire …nale peut s'averer preponderant pour l'attractivite globale du championnat, mais ce dernier est devenu plus volatile avec les nouvelles capacites …nancieres du PSG. Classi…cation-JEL: C11, D40, Z28","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"99 1","pages":"641-666"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90821172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Is team reasoning more efficient than individual reasoning? It should be, as by definition it is supposed to lead individuals to adopt collectively optimal strategies. Indeed, it has been argued that team reasoning is more rationally efficient and can be more evolutionarily viable than individual reasoning. This paper provides reasons that mitigate both claims, which I argue rely on an underestimation of the efficiency of individual reasoning and on an overestimation of the coordinating power of team reasoning. Once these are corrected, the efficiency of team reasoning turns out to be equivocal. At the rational level, the superior efficiency of team reasoning depends on specific conditions regarding the nature of the interactive situation and the general probability that individuals team reason. At the evolutionary level, both the stability and the appearance of team reasoning become puzzling.
{"title":"The Efficiency of Team Reasoning","authors":"C. Paternotte","doi":"10.3917/REDP.283.0447","DOIUrl":"https://doi.org/10.3917/REDP.283.0447","url":null,"abstract":"Is team reasoning more efficient than individual reasoning? It should be, as by definition it is supposed to lead individuals to adopt collectively optimal strategies. Indeed, it has been argued that team reasoning is more rationally efficient and can be more evolutionarily viable than individual reasoning. This paper provides reasons that mitigate both claims, which I argue rely on an underestimation of the efficiency of individual reasoning and on an overestimation of the coordinating power of team reasoning. Once these are corrected, the efficiency of team reasoning turns out to be equivocal. At the rational level, the superior efficiency of team reasoning depends on specific conditions regarding the nature of the interactive situation and the general probability that individuals team reason. At the evolutionary level, both the stability and the appearance of team reasoning become puzzling.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"10 1","pages":"447-468"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89945005","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Le 9 octobre 2017, Richard H. Thaler a recu le Prix de la Banque de Suede en sciences economiques en memoire d’Alfred Nobel pour ses travaux en economie comportementale. Cet article presente ses principales contributions, a savoir l’etablissement d’une liste d’anomalies du comportement rationnel, les fondements d’un modele quasi-rationnel inspire de la psychologie et, finalement, l’approche des politiques publiques connue sous le nom de Nudge. Pour conclure, nous revenons de maniere plus subjective sur les apports de Thaler en economie et speculons sur un avenir possible de l’economie comportementale.
2017年10月9日，理查德·h·塞勒(Richard H. Thaler)获得瑞典银行经济学奖，以纪念阿尔弗雷德·诺贝尔(alfred Nobel)在行为经济学方面的工作。本文介绍了他的主要贡献，即建立了理性行为的异常清单，准理性心理学启发模型的基础，最后是被称为“推”的公共政策方法。最后，我们以一种更主观的方式回到塞勒对经济学的贡献，并推测行为经济学可能的未来。
{"title":"Richard H. Thaler et les limites de la rationalité","authors":"Gwen-Jirō Clochard, G. Hollard, F. Pérez","doi":"10.3917/REDP.284.0535","DOIUrl":"https://doi.org/10.3917/REDP.284.0535","url":null,"abstract":"Le 9 octobre 2017, Richard H. Thaler a recu le Prix de la Banque de Suede en sciences economiques en memoire d’Alfred Nobel pour ses travaux en economie comportementale. Cet article presente ses principales contributions, a savoir l’etablissement d’une liste d’anomalies du comportement rationnel, les fondements d’un modele quasi-rationnel inspire de la psychologie et, finalement, l’approche des politiques publiques connue sous le nom de Nudge. Pour conclure, nous revenons de maniere plus subjective sur les apports de Thaler en economie et speculons sur un avenir possible de l’economie comportementale.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"215 1","pages":"535-548"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78006116","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adam Morton has argued that a special kind of simulation, called ?solution thinking?, explains successful coordination in games of strategic interaction. In this paper I develop Morton?s idea arguing that (i) simulation explains how focal points generate common beliefs; and (ii) people engage in a special type of simulation when they reason as a team. An important feature of solution thinking is that common beliefs are an output, rather than an input, of coordination. This suggests that they may play a less central role in sustaining coordination than previous theorists have assumed.
{"title":"Coordination, Team Reasoning, and Solution Thinking","authors":"F. Guala","doi":"10.3917/REDP.283.0355","DOIUrl":"https://doi.org/10.3917/REDP.283.0355","url":null,"abstract":"Adam Morton has argued that a special kind of simulation, called ?solution thinking?, explains successful coordination in games of strategic interaction. In this paper I develop Morton?s idea arguing that (i) simulation explains how focal points generate common beliefs; and (ii) people engage in a special type of simulation when they reason as a team. An important feature of solution thinking is that common beliefs are an output, rather than an input, of coordination. This suggests that they may play a less central role in sustaining coordination than previous theorists have assumed.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"30 1","pages":"355-372"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78945083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Alors qu’a l’encontre des traites internationaux, nombre de pays legalisent actuellement le marche du cannabis, la France, quant-a-elle, reste campee sur une politique prohibitionniste fondee sur la loi du 31 decembre 1970. Sous un cadre de changement institutionnel propose par l’economie neo-institutionnelle, nous supposons cependant que la legalisation du cannabis apparait etre ineluctable en France. Principalement, les arrangements organisationnels qui ont emerge ces dernieres annees et concurrence le marche illicite en diminuant le risque et l’incertitude des transactions ne peuvent que disqualifier l’efficacite de la repression policiere en plus d’accroitre la violence sur le marche illegal. Couple a l’agenda politique des actions de reduction des risques de l’usage de drogue ainsi qu’a la qualification du cannabis en tant que medicament, la perception des acteurs evolue graduellement et inevitablement en faveur d’une legalisation de cette substance psychoactive. Et ce d’autant plus que des entrepreneurs de morale de premier plan plaident desormais en faveur de cette reforme.
{"title":"L'inéluctable légalisation du cannabis en France ? Une approche néo-institutionnelle","authors":"C. B. Lakhdar","doi":"10.3917/REDP.286.1101","DOIUrl":"https://doi.org/10.3917/REDP.286.1101","url":null,"abstract":"Alors qu’a l’encontre des traites internationaux, nombre de pays legalisent actuellement le marche du cannabis, la France, quant-a-elle, reste campee sur une politique prohibitionniste fondee sur la loi du 31 decembre 1970. Sous un cadre de changement institutionnel propose par l’economie neo-institutionnelle, nous supposons cependant que la legalisation du cannabis apparait etre ineluctable en France. Principalement, les arrangements organisationnels qui ont emerge ces dernieres annees et concurrence le marche illicite en diminuant le risque et l’incertitude des transactions ne peuvent que disqualifier l’efficacite de la repression policiere en plus d’accroitre la violence sur le marche illegal. Couple a l’agenda politique des actions de reduction des risques de l’usage de drogue ainsi qu’a la qualification du cannabis en tant que medicament, la perception des acteurs evolue graduellement et inevitablement en faveur d’une legalisation de cette substance psychoactive. Et ce d’autant plus que des entrepreneurs de morale de premier plan plaident desormais en faveur de cette reforme.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"4 1","pages":"1101-1122"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75318207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Regional disparities in terms of gender wage gap exhibited in the French private sector led to wonder is the same situation holds in the public sector. The depiction and the measure of the contribution of gender to wage inequality within the public services reveal the existence of a systematic bias against women, which holds in all the French regions. To go beyond this simple statement, the comparison of the results obtained in the various regions requires to propose an index of intensity of the contribution of gender to wage inequality allowing to analyse them with a unified scale. The intensities determined in every category and in every sub-sector of public services show that regions of the South and from the East of France are those where women support the highest disparities. On the contrary DOM or Limousin are little affected. The comparison of these results and estimations made for the private sector reveals a very important geographical correspondence between each other.
{"title":"Panorama régional de la contribution du genre aux inégalités dans la fonction publique","authors":"Frédéric Chantreuil, Kevin Fourrey, I. Lebon","doi":"10.3917/REDP.281.0137","DOIUrl":"https://doi.org/10.3917/REDP.281.0137","url":null,"abstract":"Regional disparities in terms of gender wage gap exhibited in the French private sector led to wonder is the same situation holds in the public sector. The depiction and the measure of the contribution of gender to wage inequality within the public services reveal the existence of a systematic bias against women, which holds in all the French regions. To go beyond this simple statement, the comparison of the results obtained in the various regions requires to propose an index of intensity of the contribution of gender to wage inequality allowing to analyse them with a unified scale. The intensities determined in every category and in every sub-sector of public services show that regions of the South and from the East of France are those where women support the highest disparities. On the contrary DOM or Limousin are little affected. The comparison of these results and estimations made for the private sector reveals a very important geographical correspondence between each other.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"44 1","pages":"137-168"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87232476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cet article procede a une comparaison de deux formes de politiques comportementales, les boosts et les nudges, du point de vue des questions normatives auxquelles elles doivent repondre. Ces politiques s’inscrivent toutes les deux dans une perspective welfariste, i.e. elles veillent a respecter les attitudes subjectives et raisonnables des individus dans la determination des jugements concernant le bien-etre de chacun d’entre eux. Cependant, dans la mesure ou ces deux formes de politiques comportementales affectent les comportements par des biais differents, leur adhesion au welfarisme n’induit pas les memes implications normatives. Les nudges affectent les comportements en agissant sur le contexte de choix en s’appuyant sur les resultats experimentaux etablissant une stabilite des relations entre les elements du contexte et les comportements. Ce type d’intervention ne depend pas du degre de comprehension ou de la participation active et volontaire des individus vises. Par consequent, la justification des nudges repose sur la demonstration que l’intervention va permettre de corriger une erreur comportementale et effectivement mener a un meilleur resultat. Les boosts, quant a eux, affectent les comportements en ameliorant les competences des individus a la prise de decision via l’utilisation d’outils. Ce type d’intervention requiert la comprehension et la participation active et volontaire des sujets. Par consequent, la justification des boosts ne depend pas des questions normatives relatives a l’identification des erreurs ou a la determination de l’amelioration effective du bien-etre via l’intervention. Bien que les partisans des nudges puissent parfois repondre a ces difficultes normatives, il apparait que les boosts les evitent d’emblee. De ce point de vue, les boosts apparaissent preferables aux nudges.
{"title":"Boosts vs. Nudges from a Welfarist Perspective","authors":"Till Grüne-Yanoff","doi":"10.3917/REDP.282.0209","DOIUrl":"https://doi.org/10.3917/REDP.282.0209","url":null,"abstract":"Cet article procede a une comparaison de deux formes de politiques comportementales, les boosts et les nudges, du point de vue des questions normatives auxquelles elles doivent repondre. Ces politiques s’inscrivent toutes les deux dans une perspective welfariste, i.e. elles veillent a respecter les attitudes subjectives et raisonnables des individus dans la determination des jugements concernant le bien-etre de chacun d’entre eux. Cependant, dans la mesure ou ces deux formes de politiques comportementales affectent les comportements par des biais differents, leur adhesion au welfarisme n’induit pas les memes implications normatives. Les nudges affectent les comportements en agissant sur le contexte de choix en s’appuyant sur les resultats experimentaux etablissant une stabilite des relations entre les elements du contexte et les comportements. Ce type d’intervention ne depend pas du degre de comprehension ou de la participation active et volontaire des individus vises. Par consequent, la justification des nudges repose sur la demonstration que l’intervention va permettre de corriger une erreur comportementale et effectivement mener a un meilleur resultat. Les boosts, quant a eux, affectent les comportements en ameliorant les competences des individus a la prise de decision via l’utilisation d’outils. Ce type d’intervention requiert la comprehension et la participation active et volontaire des sujets. Par consequent, la justification des boosts ne depend pas des questions normatives relatives a l’identification des erreurs ou a la determination de l’amelioration effective du bien-etre via l’intervention. Bien que les partisans des nudges puissent parfois repondre a ces difficultes normatives, il apparait que les boosts les evitent d’emblee. De ce point de vue, les boosts apparaissent preferables aux nudges.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"89 1","pages":"209-224"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87827590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, we assess the beliefs of aspiring top civil servants towards the private sector. We use a survey conducted in a French university known for training most of the future high-ranking civil servants and politicians, as well as students who will work in the private sector. Our results show that students aspiring to work in the public sector are more likely to distrust the private sector, to believe that conducting business is easy, and are less likely to see the benefits of public-private partnerships. They are also more likely to believe that private sector workers are self-interested. These results have strong implications for the level of regulation in France, and the cooperation between the public and private sector.
{"title":"Aspiring Top Civil Servants’ Distrust in the Private Sector","authors":"Anne Boring, C. Desrieux, Romain Espinosa","doi":"10.3917/REDP.286.1047","DOIUrl":"https://doi.org/10.3917/REDP.286.1047","url":null,"abstract":"In this paper, we assess the beliefs of aspiring top civil servants towards the private sector. We use a survey conducted in a French university known for training most of the future high-ranking civil servants and politicians, as well as students who will work in the private sector. Our results show that students aspiring to work in the public sector are more likely to distrust the private sector, to believe that conducting business is easy, and are less likely to see the benefits of public-private partnerships. They are also more likely to believe that private sector workers are self-interested. These results have strong implications for the level of regulation in France, and the cooperation between the public and private sector.","PeriodicalId":44798,"journal":{"name":"REVUE D ECONOMIE POLITIQUE","volume":"159 2","pages":"1047-1087"},"PeriodicalIF":0.3,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72498369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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