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César Hidalgo
Penguin, November 2025
We all understand that knowledge shapes the fate of business and the growth of nations, but few of us are aware of the principles that govern its motion. The Infinite Alphabet unravels the laws describing the growth and diffusion of knowledge by taking you from a failed attempt to build a city of...
Frédéric Cherbonnier, Christian Gollier, and Aude Pommeret
November 2025
Standard evaluations of public policies involve discounting the flow of expected net benefits at a unique discount rate. Consequently, they systematically ignore the insurance benefits of policies that hedge the aggregate risk, and the social cost of projects that raise the aggregate...
Jacques Crémer
vol. N° 11-2025, November 2025
Nicolas Treich
Cambridge University Press, November 2025
Why does animal welfare matter? For some, it is because people care about animals; for others, it is because animals themselves are morally relevant. Given the importance of welfare in economics research and the debates around climate change and biodiversity loss, more economists are becoming...
Doh-Shin Jeon, Yassine Lefouili, and Leonardo Madio
November 2025, forthcoming
We study a platform’s incentives to remove IP-infringing products and the effects of holding the platform liable for such infringements on innovation and welfare. We first show that platform liability can lead to either higher or lower commission rates, depending on how screening affects...
Renata Hosnedlova, and Iryna Maidanik
vol. 31, n. 8 (e70128), November 2025, pp. 1–14
This study investigates the spatial and temporal dimensions of im/mobility within the population of western Ukraine. It challenges the typical focus on receiving countries by examining both the capabilities and motivations for staying in Ukraine or considering emigration. Based on data from 1242...
Christian Hellwig, and Venky Venkateswaran
vol. 155, n. 103843, November 2025
We study the propagation of nominal shocks in a dispersed information economy where firms learn from and respond to information generated by their activities in product and factor markets. We show that imperfect information on its own has no effect on equilibrium outcomes, when firms have the...
Alexandre de Cornière, and Greg Taylor
vol. 56, n. 4, November 2025, pp. 494–510
Does enhanced access to data foster or hinder competition among firms? Using a competition-in-utility framework that encompasses many situations where firms use data, we model data as a revenue-shifter and identify two opposite effects: a mark-up effect according to which data induces firms to...
Patrick Rey, Yossi Spiegel, and Konrad Stahl
vol. 56, n. 4, November 2025, pp. 738–755
We study the feasibility and profitability of predation in a dynamic environment, using a parsimonious infinite-horizon, complete information setting in which an incumbent repeatedly faces potential entry. When a rival enters, the incumbent chooses whether to accommodate or predate it; the entrant...
Maria Petrova, and Augustin Tapsoba
vol. 40, n. 124, October 2025, p. 845–878
Information plays a critical role in shaping behavior, particularly in conflict environments where access to and interpretation of information can significantly influence decisions. This review synthesizes recent empirical research at the intersection of information, media, and conflict. It is...
