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David Bardey, Philippe De Donder, and Vera Zaporozhets

vol. 4, December 2025

This survey examines the economic literature on the incentives that shape both the use and the development of diagnostic tests, with a particular focus on companion (biomarker) tests central to precision medicine. Misdiagnosis, underdiagnosis, and overdiagnosis represent a substantial global...

Milo Bianchi, and Philippe Jehiel

vol. 19, December 2025, pp. 735–755

We analyze bubbles and crashes in a model in which some investors are partially sophisticated. While the expectations of such investors are endogenously determined in equilibrium, these are based on a coarse understanding of the market dynamics. We highlight how such investors may endogenously...

Olivier Faugeras

vol. 54, 2025, p. 122–160

Motivated by finding a way to deal with Compositional Data (CoDa) with or without zeroes in a unified way, we build upon the previous projective geometry viewpoint of Faugeras (2023) and use the tools provided by the exterior product and Grassmann’s algebra. These allow to represent higher...

Catherine Molho, and Linh Vu

vol. 66, n. 102107, December 2025

Altruistic decisions are central to civic engagement and humanitarian efforts. However, altruistic behavior is often context-dependent rather than consistent—the same individuals who act generously in one situation may behave selfishly in another. Here, we review research on this phenomenon, which...

Jean Tirole

Subramanian Rangan (ed.), Oxford University Press, part I, chapter 2, 2025, pp. 59–70

Any scientific discipline—any theory, formal or informal—rests on assumptions. These assumptions matter, and in the case of social sciences, they influence our vision of society and our policy recommendations. This chapter reviews and comments on assumptions most commonly made by economists—...

Eran Shmaya, and Bruno Ziliotto

vol. 63, n. 3, 2025

We consider a mean-field game model in which the cost functions depend on a fixed parameter referred to as the “state,” which remains unknown to the players. Players acquire information about the state through private signals received during the course of the game. We derive a mean-field system...

André Grimaud, and Luc Rougé

vol. 29, n. e98, 2025, pp. 1–30

Technical progress is considered a key element in the fight against climate change. It may take the form of technological breakthroughs, that is, shocks that induce significant leaps in the stock of knowledge. We use an endogenous growth framework with directed technical change to analyze the...

Andrea Attar, Thomas Mariotti, and François Salanié

Victor Chernozhukov, Johannes Hörner, Eliana La Ferrara, and Ivän Werning (eds.), vol. 1, December 2025, pp. 3–46

Christophe Courbage, Richard Peter, Béatrice Rey, and Nicolas Treich

Georges Dionne (ed.), 3ème edition, Springer Cham, 2025

This chapter surveys the economic literature on prevention and precaution. Prevention refers to costly activities that mitigate risk. Prevention encompasses self-protection, an investment to reduce the probability of loss, and self-insurance, an investment to reduce the severity of loss. Precaution...

Benjamin Ouvrard, Arnaud Reynaud, and Murudaiah Sivamurthy

vol. 11, n. 1, 2025

Using an experimental setting inspired by the empirical social choice literature, we analyze how Indian farmers define fair water allocation. We investigate the choices of 240 Indian farmers who — as a neutral third-party — are asked to make water allocation decisions in situations that differ,...