Econometrics, Quantitative Economics, Data Science

Archive for the ‘equiprice’ Category

equiprice_papers

EQUIPRICE papers

The following papers benefited from the support of the ERC-sponsored project EQUIPRICE.

Working papers

A model of decentralized matching markets without transfers. With Yu-Wei Hsieh. Available here.
Yogurts choose consumers? Identification of Random Utility Models via Two-Sided Matching. With Odran Bonnet, Keith O’Hara, and Matt Shum. Available here.

Papers in revision

Cupid’s Invisible Hand: Social Surplus and Identification in Matching Models. With Bernard Salanié. Revision requested (3rd round), Review of Economic Studies. Available here.

A note on the estimation of job amenities and labor productivity. With Arnaud Dupuy. Revision requested, Quantitative Economics. Available here.

Published or forthcoming papers

SISTA: learning optimal transport costs under sparsity constraints. With Guillaume Carlier, Arnaud Dupuy and Yifei Sun. Accepted for publication, Communications on Pure and Applied Mathematics. Available here.
Single market nonparametric identification of multi-attribute hedonic equilibrium models. With Victor Chernozhukov, Marc Henry, and Brendan Pass. Accepted for publication, Journal of Political Economy. Available here.
Taxation in matching markets. With Arnaud Dupuy, Sonia Jaffe, and Scott Kominers. Forthcoming, International Economic Review. Available here.
Like Attract Like? A Structural Comparison of Homogamy Across Same-Sex and Different-Sex Households (2020). With Edoardo Ciscato and Marion Goussé. Journal of Political Economy 128, no. 2, pp. 740-781. Available here.

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_code

EQUIPRICE code

TraMEPy Project

The TraME software (Transportation Methods for Econometrics, http://www.trame-project.com/) is a collection of libraries for solving problems of equilibrium computation and estimation in consumer demand and matching frameworks via the Mass Transportation Approach. It will be completely revamped to accommodate for the equilibrium flow problem in its full generality (beyond bipartite networks), novel equilibrium algorithms added, enhanced HPC capabilities, and a new Python implementation.

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_agenda

EQUIPRICE scientific agenda

The EQUIPRICE project seeks to build an innovative economic toolbox (ranging from modelling, computation, inference, and empirical applications) for the study of equilibrium models with gross substitutes, with applications to models of matching with or without transfers, trade flows on networks, multinomial choice models, as well as hedonic and dynamic pricing models. While under-emphasized in general equilibrium theory, equilibrium models with gross substitutes are very relevant to these problems as each of these problems can be recast as such.
Thus far, almost any tractable empirical model of these problems typically required making the strong assumption of quasi-linear utilities, leading to a predominance of models with transferable utility in applied work. The current project seeks to develop a new paradigm to move beyond the transferable utility framework to the imperfectly transferable utility one, where the agent’s utilities are no longer quasi-linear.
The mathematical structure of gross substitutes will replace the structure of convexity underlying in models with transferable utility.
To investigate this class of models, one builds a general framework embedding all the models described above, the “equilibrium flow problem.” The gross substitute property is properly generalized and properties (existence of an equilibrium, uniqueness, lattice structure) are derived. Computational algorithms that rely on gross substitutability are designed and implemented. The econometrics of the problem is addressed (estimation, inference, model selection). Applications to various fields such as labor economics, family economics, international trade, urban economics, industrial organization, etc. are investigated.
The project touches upon other disciplines. It will propose new ideas in applied mathematics, offer new algorithms of interest in computer science and machine learning, and provide new methods in other social sciences (like sociology, demography and geography).

Seven scientific challenges

Challenge 1. How to build a single framework to be able to reformulate matching models with or without (or with imperfect) transfers, hedonic models, models of multinomial choice, and models of international trade as problems of competitive equilibrium with gross substitutes?

Challenge 2. How to extend the framework investigated in challenge 1 to handle dynamic, Markov versions of these problems (both in the finite-horizon and stationary case)?

Challenge 3. How to extend the notion of gross substitutes to allow for the possibility of indifference between preferred alternatives, i.e. consider the case of set-valued excess demand / supply?

Challenge 4. Build and analyze a set of algorithms for the equilibrium problem with gross substitutes to handle the problems described in the previous Challenges.

Challenge 5. Implement these algorithms into a compiled, parallelized software library.

Challenge 6. Develop a novel inferential theory based on minimax regret estimation for the estimation of equilibrium models with Gross Substitutes, to handle inference in the previous problems.

Challenge 7. In the minimax regret estimation framework of challenge 6, extend the estimation and inference theory to handle sparsity constraints.

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_positions

EQUIPRICE positions

Open positions

Post-doctoral researcher (TBA)

The post-doctoral researcher will be expected to contribute to the intellectual advancement of the project, interact with the PhD students, and participate in the organization of the seasonal events described below. The post-doctoral position is envisioned for four years; however, depending on individual circumstances, it may also be two consecutive two-year positions.

Two doctoral fellows

One doctoral fellow will have a focus on computational economics. The other doctoral fellow will focus on empirical economics.

Research assistants

March 14, 2021: Equiprice is looking for an intern in the field of data science and economics.

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_workshops

EQUIPRICE workshops

Upcoming workshops

Fall 2021: to be announced.

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_lectures

EQUIPRICE lectures

Upcoming lectures

February 26 2021, 2pm-4pm (Paris time): estimation of dynamic discrete choice problems

Speaker: Alfred Galichon

• Theory: Rust’s model; estimation; normalization issues
• Coding: maintenance choice.

March 12 2021, 2pm-4pm (Paris time): matrix games

Speaker: Alfred Galichon

• Theory: Nash equilibria; correlated equilibria; zero-sum games and LP formulation
• Coding: soccer data on penalty.

April 9 2021, 2pm-4pm (Paris time): kidney exchange problems

Speaker: Jules Baudet.

• Theory: Roth et al.
• Coding: an interactive multi-player simulator

Special lecture 5 (April 30, 2pm-4pm Paris time): traffic congestion

Speaker: Alfred Galichon

• Theory: Wardrop equilibria; price of anarchy
• Coding: traffic data.

Past lectures

February 5 2021, 2pm-4pm (Paris time): cloud computing

Speakers: Flavien Léger (Equiprice) and James Nesbit (NYU).

EQUIPRICE logo

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing. European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025.

equiprice_team

EQUIPRICE: Equilibrium methods for Resource Allocation and Dynamic Pricing

European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025

CORE Equiprice team

Principal investigator:

Postdoctoral researchers:

Research assistants:

Jules Baudet (Masters student at ENS).
Projects: math+econ+code, equiprice lunches, replication, data analytics
Gabriele Buontempo (Masters student at Sciences Po). Projects: data analytics, dissemination
Nour Cherif (College student at Sciences Po). Projects: math+econ+code, dissemination
Akshaya Jose Devasia (Masters student at Sciences Po). Projects: math+econ+code, dissemination
Bastien Patras (Masters student at Sciences Po, Centrale-Supélec and ENS Paris-Saclay). Projects: replication, data analytics

equiprice_lunch-seminars

EQUIPRICE lunch seminars

Equiprice lunch seminars are hybrid (in person and / or virtual, depending on the COVID context) lunch seminars designed to serve as technical tutorials or presentation of work in progress in relation to the scientific agenda of the ERC-sponsored project EQUIPRICE. Unless noted ‘internals,’ seminars are public and open to all, but registration to the in person event is required 48 hours before.

Note: All times indicated on this page refer to the Paris time zone.

Events 2020-2021

Upcoming talks:

  • March 18th, 1pm (internal). Jules Baudet on course allocation mechanisms (continued).
  • March 25th, 1pm (internal). Pauline Corblet on the link between Gale and Shapley and some iterative methods in applied mathematics.
  • April 1st, 1pm. No seminar.
  • April 8th, 1pm. Flavien Léger on gradient descent methods.
  • April 15th, 1pm. TBA.
  • April 22nd, 1pm. No seminar.
  • April 29th, 1pm. No seminar.
  • May 27th, ** 12.30pm-2pm **. Pauline Corblet. Job market practice talk.
  • June 3rd, 1pm. Bastien Patras on BLP and MPEC.

Past talks:

  • March 4th, 1pm (internal). Pauline Corblet on many-to-one matching problems.
  • February 18th, 1pm (public). Jules Baudet on course allocation mechanisms (continued).
  • February 11th, *** 5pm *** (public). Professor Xin Chen (University of Illinois) on S-convexity.
  • January 14th, 1pm (public). Flavien Léger on Chambolle-Pock.
  • January 7th, 1pm (public). Jules Baudet on “the multi-unit assignment problem: matching students to course schedules”.
  • December 10th, *** 5pm *** (public). Professor Pierre-Olivier Weill (UCLA) on optimal transport in asset pricing problems.
  • November 26th, 1pm (public). Flavien Léger on computing large-scale regularized optimal transport problems.
  • November 12th, 1pm (internal). Alfred Galichon on ‘EQUIPRICE: research program and challenges’.
  • October 29th, 1pm (public). Jules Baudet will be presenting on ‘Cloud Computing and Containers part 3: Understanding Docker containers, continued’.
  • October 22nd, 1pm (public). Jules Baudet will be presenting on ‘Cloud Computing and Containers part 2: Understanding Docker containers’
  • October 15nd, 1pm (public). Jules Baudet on kidney exchanges.
  • October 8, 1pm (public). Flavien Léger on ‘The back-and-forth method in optimal transport’
  • September 24th, 1pm (public). Jules Baudet on ‘Cloud Computing and Containers part 1: Understanding Docker containers’

Sponsored by the European Research Council grant EQUIPRICE

EQUIPRICE logo

equiprice

European Research Council consolidator grant (ERC-CoG) No. 866274, 2020-2025

Project description

This project seeks to build an innovative economic toolbox (ranging from modelling, computation, inference, and empirical applications) for the study of equilibrium models with gross substitutes, with applications to models of matching with or without transfers, trade flows on networks, multinomial choice models, as well as hedonic and dynamic pricing models.  Applications to various fields such as labor economics, family economics, international trade, urban economics, industrial organization, etc. are investigated.

This project is hosted by the department of economics at Sciences Po.

The scientific agenda

The EQUIPRICE project is built upon a rigorous scientific agenda at the intersection of economics, data science, mathematics and computation. See here.

Events

EQUIPRICE Lunch Seminars

The EQUIPRICE team meets bimonthly on Thursdays for lunch seminars that hold in person or remotely to discuss research in progress by the team members, or summarize existing research on a topic. Occasionally, an external researcher is invited to present. Some of these meetings are public. See schedule here.

Seasonal events

Winter: ‘math+econ+code’ January masterclass

A ‘math+econ+code’ masterclass is held over one week in the month of January. Topics usually revolve around the economic applications of optimal transport. Find out more information here.

Spring: EQUIPRICE lectures

Topical lectures by EQUIPRICE team members and invited researchers are given during the Spring semester. See a schedule here.

Summer: ‘math+econ+code’ June masterclass

Another ‘math+econ+code’  masterclass is held in June, on a theme which is in general complementary to the January class, typically dealing with Walrasian equilibrium with gross substitutes. More information here.

Fall: EQUIPRICE workshops

A research workshop is organized yearly in the Fall. See a list of past and upcoming workshops here.

EQUIPRICE code & Papers

Open-source code is developed a product of the EQUIPRICE research effort. Find out more here.

Publicly available manuscript version of the papers written with the support of EQUIPRICE are listed here.

The team

The core EQUIPRICE team is made of a principal investigator, post-doctoral researchers, and graduate student assistants. Meet the equiprice team!

Job posting for the EQUIPRICE project are advertised here.

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