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Sylvain Chabé-Ferret, Arnaud Reynaud et Eva Tène
n° 21-1229, juin 2021
The nitrogen cycle is one of the most disrupted geo-chemical cycles on earth. Human activity, mainly through intensive farming, releases nitrogen by-products such as nitrates and ammonium into the environment where they have wide ranging impacts on human health, biodiversity and climate change. One...
Andrea Attar, Eloisa Campioni, Thomas Mariotti et Alessandro Pavan
n° 21-1227, juin 2021, révision juin 2025
We study the design of market information in competing-mechanism games. We identify a new dimension, private disclosures, whereby the principals asymmetrically inform the agents of how their mechanisms operate. We show that private disclosures have two important effects. First, they can raise a...
Jean Tirole
vol. 111, n° 6, juin 2021, p. 2007–2048
Autocratic regimes, democratic majorities, private platforms and religious or professional organizations can achieve social control by managing the flow of information about individuals' behavior. Bundling the agents' political, organizational or religious attitudes with information about their...
Jean-Paul Décamps, Fabien Gensbittel et Thomas Mariotti
n° 21-1222, juin 2021, révision décembre 2024
We study the optimal investment policy of a firm facing both technological and cash-flow uncertainty. At any point in time, the firm can decide to invest in a standalone technology or to wait for a technological breakthrough. Breakthroughs occur when market conditions become favorable enough,...
Eric Auerbach
Online, juin 2021
vol. 13, juin 2021, p. 1–17
Emmanuel Farhi passed away on July 23, 2020. After depicting his scientific style and values, this tribute discusses how he transformed the theory of taxation, macroeconomics, and international finance, and describes his approach and insights through a sample of his remarkable contributions to...
Jérôme Renault et Françoise Forges
vol. 50, juin 2021, p. 475–502
We consider a sender-receiver game with an outside option for the sender. After the cheap talk phase, the receiver makes a proposal to the sender, which the latter can reject. We study situations in which the sender’s approval is crucial to the receiver. We show that a partitional, (perfect...
Nils Köbis, Jean-François Bonnefon et Iyad Rahwan
vol. 5, n° 6, juin 2021, p. 679–685
Machines powered by Artificial Intelligence (AI) are now influencing the behavior of humans in ways that are both like and unlike the ways humans influence each other. In light of recent research showing that other humans can exert a strong corrupting influence on people’s ethical behavior, worry...
Eleonora Patacchini
Jean-Paul Azam
vol. 4, n° 1, juin 2021
