Two main nonpharmaceutical policy strategies have been used in Europe in response to the COVID-19 epidemic: one aimed at natural herd immunity and the other at avoiding saturation of hospital capacity by crushing the curve. The two strategies lead to different results in terms of the number of lives saved on the one hand and production loss on the other hand. Using a susceptible–infected–recovered–dead model, we investigate and compare these two strategies. As the results are sensitive to the initial reproduction number, we estimate the latter for 10 European countries for each wave from January 2020 till March 2021 using a double sigmoid statistical model and the Oxford COVID-19 Government Response Tracker data set. Our results show that Denmark, which opted for crushing the curve, managed to minimize both economic and human losses. Natural herd immunity, sought by Sweden and the Netherlands does not appear to have been a particularly effective strategy, especially for Sweden, both in economic terms and in terms of lives saved. The results are more mixed for other countries, but with no evident trade-off between deaths and production losses.
Cet article propose une approche intégrant le temps de latence dans le processus d’évaluation de la mortalité de long terme et dans sa valorisation économique, suite à un choc transitoire. Il l’applique aux conséquences des restrictions d’activité en lien avec la Covid‑19 au printemps 2020 sur la pollution de l’air ambiant en France. Ces conséquences sont évaluées en termes d’années de vie gagnées (AVG) ainsi qu’en termes monétaires pour deux indicateurs de pollution de l’air. Cette approche est comparée à une estimation standard par différence. Elle conduit à des résultats inférieurs d’un facteur 3.7 à 5.5 pour les AVG et, du fait de l’influence additionnelle de l’actualisation, à une valorisation économique inférieure d’un facteur 4.7 à 6.9. Ces résultats indiquent qu’une évaluation adaptée des bénéfices sanitaires de long terme, puis leur traduction en termes monétaires, est essentielle pour comparer les conséquences à long terme de politiques ou de chocs exogènes transitoires.
We analyze theoretically an institution called a “limited-tenure concession” for its ability to induce efficient public goods contribution and common-pool resource extraction. The basic idea is that by limiting the tenure over which an agent can enjoy the public good, but offering the possibility of renewal contingent on ample private provision of that good, efficient provision may be induced. We first show in a simple repeated game setting that limited-tenure concessions can incentivize socially-efficient provision of public goods. We then analyze the ability of this instrument to incentivize the first best provision for common-pool natural resources such as fish and water, thus accounting for spatial connectivity and growth dynamics of the resource. The duration of tenure and the dispersal of the resource play pivotal roles in whether this limited-tenure concession induces the socially optimal private provision. Finally, in a setting with costly monitoring, we discuss the features of a concession contract that ensure first-best behavior, but at least cost to the implementing agency.
In this paper, we consider an abstract regularized method with a skew-symmetric mapping as regularization for solving equilibrium problems. The regularized equilibrium problem can be viewed as a generalized mixed equilibrium problem and some existence and uniqueness results are analyzed in order to study the convergence properties of the algorithm. The proposed method retrieves some existing one in the literature on equilibrium problems. We provide some numerical tests to illustrate the performance of the method. We also propose an original application to Becker’s household behavior theory using the variational rationality approach of human dynamics.
L’entreprise libérée est souvent présentée comme une innovation managériale et un modèle organisationnel d’avenir. Pourtant, même si elle est une tentative de réponse intéressante aux problématiques de déplacement des attentes des collaborateurs au travail, il faut s’interroger sur la véritable nature de cette réponse : véritable concept managérial ou appellation acceptée faute de mieux ? Nous formulons dans cet essai d’abord une critique de l’entreprise libérée avant de proposer une révision conceptuelle à l’aide de l’éclairage postmoderne et en introduisant la notion d’entreprise libérante. Nous suggérons ainsi une nouvelle piste en cherchant à repenser les grandes postures managériales. Nous proposons donc de cesser de vouloir « libérer » l’entreprise pour poser les bases de l’entreprise « libérante », en déplaçant notre réflexion sur les salariés. Ce travail de rénovation conceptuelle s’appuie sur une étude exploratoire qualitative menée auprès de managers « libérateurs » dans des organisations qui se sont autoproclamées « entreprises libérées ». Puis nous étendons les conclusions de cette étude à des pistes de postures managériales au service de collaborateurs libérés, nouvelles postures managériales d’autant plus importantes qu’elles se situent désormais dans un monde de travail hybride post-covid.
This study aims to evaluate people’s willingness to provide their geospatial global positioning system (GPS) data from their smartphones during the COVID-19 pandemic. Based on the self-determination theory, the addition of monetary incentives to encourage data provision may have an adverse effect on spontaneous donation. Therefore, we tested if a crowding-out effect exists between financial and altruistic motivations. Participants were randomized to different frames of motivational messages regarding the provision of their GPS data based on (1) self-interest, (2) pro-social benefit, and (3) monetary compensation. We also sought to examine the use of a negative versus positive valence in the framing of the different armed messages. 1055 participants were recruited from 41 countries with a mean age of 34 years on Amazon Mechanical Turk (MTurk), an online crowdsourcing platform. Participants living in India or in Brazil were more willing to provide their GPS data compared to those living in the United States. No significant differences were seen between positive and negative valence framing messages. Monetary incentives of $5 significantly increased participants’ willingness to provide GPS data. Half of the participants in the self-interest and pro-social arms agreed to provide their GPS data and almost two-thirds of participants were willing to provide their data in exchange for $5. If participants refused the first framing proposal, they were followed up with a “Vickrey auction” (a sealed-bid second-priced auction, SPSBA). An average of $17 bid was accepted in the self-interest condition to provide their GPS data, and the average “bid” of $21 was for the pro-social benefit experimental condition. These results revealed that a crowding-out effect between intrinsic and extrinsic motivations did not take place in our sample of internet users. Framing and incentivization can be used in combination to influence the acquisition of private GPS smartphone data. Financial incentives can increase data provision to a greater degree with no losses on these intrinsic motivations, to fight the COVID-19 pandemic.
Carl Menger is remembered less for his analysis of entrepreneurship (which in the following analysis refers to his fundamental notions related to the nature of business practice) than for his views on matters like money, individualism or the nature of institutions (there are exceptions to this subdued interest, such as Kirzner 1978). However, these issues are related and a long-debated notion among Austrians, namely time, relates investment, entrepreneurship, uncertainty and Menger’s tentative quasi-anthropology (kept in his notes). This paper conscientiously investigates those issues through Menger’s views on the notion of time.
From different perspectives regarding the History of Economic Thought, the contributions to this roundtable highlight different aspects and levels of the modernity of the founder of the Austrian Sc...
This paper examines the effect of weather shocks on violent crime using disaggregated data from Brazilian municipalities over the period 1991–2015. Employing a distributed lag model that takes into account temporal correlations of weather shocks and spatial correlation of crime rates, I document that adverse weather shocks in the form of droughts lead to a significant increase in violent crime in rural regions. This effect appears to persist beyond the growing season and over the medium run in contrast to the conventional view perceiving weather effects as transitory. To explain this persistence, I show that weather fluctuations are positively associated not only with agriculture yields, but also with the overall economic activity. Moreover, evidence shows the dominance of opportunity cost mechanism reflected in the fluctuations of the earnings especially for the agriculture and unskilled workers, giving credence that it is indeed the income that matters and not the general socio-economic conditions. Other factors such as local government budget capacity, (un)-employment, poverty, inequality, and psychological factors do not seem to explain violent crime rates.
Redistributive justice is based on the premise that it is unfair for people to be better or worse off relative to others simply because of their fortune or misfortune. It assumes equal opportunities arising from four factors: social circumstances, effort, option luck and brute luck. This paper seeks to investigate how differences in perceived brute luck influence individual preferences for redistribution in favour of two public policies: “health intervention” and “environmental actions”. These policies are viewed somewhat differently: the environment is considered a pure “public good” and health, more as a “private good” with a strong public good element. Consequently, potential self-serving biases inherent in the preferences for redistributive policies are expected to differ, more likely favouring health than the environment. The perceived degree of brute luck may capture such a difference—those perceiving themselves as luckiest should be less amenable to redistribution in favour of health than the unluckiest. Data from the three waves (2000, 2006 and 2008) of a French population survey are used to examine this self-serving bias. A Generalised Ordered Logit (GOL) model is found to be statistically more relevant compared to other logistic regression models (multinomial and ordered). We find that a perceived low degree of brute luck is significantly associated with a decreased preference of redistributive environmental policies but the reverse is true for redistributive health policies, i.e., association with an increased preference. Assuming that all inequalities due to differing luck are unjust, this empirical validation gives redistributive justice grounds for equalisation policies regarding health.