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1. Additive genetic variance for traits least related to fitness increases with environmental stress in the desert locust, Schistocerca gregaria

Author

Marie‐Pierre Chapuis, Benjamin Pélissié, Cyril Piou, Floriane Chardonnet, Christine Pagès, Antoine Foucart, Elodie Chapuis, Hélène Jourdan‐Pineau, Centre de Biologie pour la Gestion des Populations (UMR CBGP), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Centre international d'études supérieures en sciences agronomiques (Montpellier SupAgro)-Université de Montpellier (UM)-Institut de Recherche pour le Développement (IRD [France-Sud])-Institut national d’études supérieures agronomiques de Montpellier (Montpellier SupAgro), Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Département Systèmes Biologiques (Cirad-BIOS), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad), University of Nebraska [Kearney] (UNK), Plant Health Institute of Montpellier (UMR PHIM), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Institut de Recherche pour le Développement (IRD)-Université de Montpellier (UM)-Institut national d’études supérieures agronomiques de Montpellier (Montpellier SupAgro), Maladies infectieuses et vecteurs : écologie, génétique, évolution et contrôle (MIVEGEC), Université de Montpellier (UM)-Centre National de la Recherche Scientifique (CNRS)-Institut de Recherche pour le Développement (IRD [France-Sud]), Peuplements végétaux et bioagresseurs en milieu tropical (UMR PVBMT), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Institut de Recherche pour le Développement (IRD)-Université de La Réunion (UR)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), This work was supported by research funds from the French Agricultural Research Centre for International Development (CIRAD) and the project ANR-18-CE32-0010 (PEPPER). The authors acknowledge the South Green Platform for providing computational resources that have contributed to the research results reported within this paper., ANR-18-CE32-0010,PEPPER,Etude de l'émergence du polyphénisme de phase et des risques associés(2018), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Université de Montpellier (UM)-Institut de Recherche pour le Développement (IRD [France-Sud])-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)-Institut Agro - Montpellier SupAgro, Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro), and Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Institut de Recherche pour le Développement (IRD)-Université de Montpellier (UM)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)-Institut Agro - Montpellier SupAgro

Subjects
life history evolution, growth, [SDV]Life Sciences [q-bio], Stress abiotique, stress, morphology, pest insects, pigmentation, Variation phénotypique, QH540-549.5, Schistocerca gregaria, Ecology, viability, Stress thermique, temperature, L10 - Génétique et amélioration des animaux, L40 - Anatomie et morphologie des animaux, climate change, Plasticité phénotypique, Variance génétique
Abstract

International audience; Under environmental stress, previously hidden additive genetic variation can be unmasked and exposed to selection. The amount of hidden variation is expected to be higher for life history traits, which strongly correlate to individual fitness, than for morphological traits, in which fitness effects are more ambiguous. However, no consensual pattern has been recovered yet, and this idea is still debated in the literature. Here, we hypothesize that the classical categorization of traits (i.e., life history and morphology) may fail to capture their proximity to fitness. In the desert locust, Schistocerca gregaria, a model organism for the study of insect polyphenism, we quantified changes in additive genetic variation elicited by lifetime thermal stress for ten traits, in which evolutionary significance is known. Irrespective of their category, traits under strong stabilizing selection showed genetic invariance with environmental stress, while traits more loosely associated with fitness showed a marked increase in additive genetic variation in the stressful environment. Furthermore, traits involved in adaptive phenotypic plasticity (growth compensation) showed either no change in additive genetic variance or a change of moderate magnitude across thermal environments. We interpret this mitigated response of plastic traits in the context of integrated evolution to adjust the entire phenotype in heterogeneous environments (i.e., adaptiveness of initial plasticity, compromise of phenotypic compensation with stress, and shared developmental pathway). Altogether, our results indicate, in agreement with theoretical expectations, that environmental stress can increase available additive genetic variance in some desert locust traits, but those closely linked to fitness are largely unaffected. Our study also highlights the importance of assessing the proximity to fitness of a trait on a case-by-case basis and in an ecologically relevant context, as well as considering the processes of canalization and plasticity, involved in the control of phenotypic variation.

Published
2021

2. Threshold regressions for the resource curse

Author

Nicolas Clootens, Djamel Kirat, Aix-Marseille Sciences Economiques (AMSE), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), Laboratoire d'Économie d'Orleans [UMR7322] (LEO), Université d'Orléans (UO)-Université de Tours (UT)-Centre National de la Recherche Scientifique (CNRS), This paper has been partly funded by the Agence Nationale de la Recherche (France) under grants Labex VOLTAIRE (ANR-10-LABX-100-01) and ANR-17-EURE-0020, ANR-10-LABX-0100,VOLTAIRE,Geofluids and Volatil elements – Earth, Atmosphere, Interfaces – Resources and Environment(2010), ANR-17-EURE-0020,AMSE (EUR),Aix-Marseille School of Economics(2017), École des hautes études en sciences sociales (EHESS)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), Laboratoire d'Économie d'Orleans (LEO), Université d'Orléans (UO)-Université de Tours-Centre National de la Recherche Scientifique (CNRS), ANR-10-LABX-100-01/10-LABX-0100,VOLTAIRE,Geofluids and Volatil elements – Earth, Atmosphere, Interfaces – Resources and Environment(2010), ANR: 17-EURE-0020,AMSE (EUR),Aix-Marseille School of Economics(2017), Lhuillier, Elisabeth, Laboratoires d'excellence - Geofluids and Volatil elements – Earth, Atmosphere, Interfaces – Resources and Environment - - VOLTAIRE2010 - ANR-10-LABX-0100 - LABX - VALID, Aix-Marseille School of Economics - - AMSE (EUR)2017 - ANR-17-EURE-0020 - EURE - VALID, and Centre National de la Recherche Scientifique (CNRS)-Université de Tours-Université d'Orléans (UO)

Subjects
Economics and Econometrics, Resource (biology), Natural resource economics, growth, 05 social sciences, Linear model, Development, JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O13 - Agriculture • Natural Resources • Energy • Environment • Other Primary Products, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Natural resource, non-renewable resources, Resource curse, Abundance (ecology), 0502 economics and business, threshold regressions, Economics, JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q3 - Nonrenewable Resources and Conservation/Q.Q3.Q33 - Resource Booms, JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O11 - Macroeconomic Analyses of Economic Development, 050202 agricultural economics & policy, 050207 economics, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, natural resources, Non-renewable resource, resource curse, General Environmental Science
Abstract

This paper analyzes the behavior of cross-country growth rates with respect to resource abundance and dependence. We reject the linear model that is commonly used in growth regressions in favor of a multiple-regime alternative. Using a formal sample-splitting method, we find that countries exhibit different behaviors with respect to natural resources depending on their initial level of development. In high-income countries, natural resources play only a minor role in explaining the differences in national growth rates. On the contrary, in low-income countries, abundance seems to be a blessing but dependence restricts growth.

Published
2020

3. Mandatory and Voluntary Disclosures: Dynamic Interactions

Author

Swaminathan Sridharan, Davide Cianciaruso, Ecole des Hautes Etudes Commerciales (HEC Paris), Northwestern University [Evanston], and HEC Research Paper Series

Subjects
dynamic, Earnings, ComputingMilieux_THECOMPUTINGPROFESSION, growth, Monetary economics, multiple periods, JEL: D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D83 - Search • Learning • Information and Knowledge • Communication • Belief • Unawareness, voluntary disclosure, Stock price, Voluntary disclosure, JEL: G - Financial Economics/G.G1 - General Financial Markets/G.G1.G14 - Information and Market Efficiency • Event Studies • Insider Trading, mandatory disclosure, JEL: M - Business Administration and Business Economics • Marketing • Accounting • Personnel Economics/M.M4 - Accounting and Auditing/M.M4.M41 - Accounting, Turnover, JEL: D - Microeconomics/D.D2 - Production and Organizations/D.D2.D21 - Firm Behavior: Theory, hard and soft information, ComputingMilieux_COMPUTERSANDSOCIETY, [SHS.GESTION]Humanities and Social Sciences/Business administration, Business, Volatility (finance), signaling, Private information retrieval, JEL: D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D82 - Asymmetric and Private Information • Mechanism Design
Abstract

Firms sometimes obtain soft private information about growth prospects along with hard information about current or past performance. In this environment, we find that optimizing disclosures over multiple periods yields nonlinear stock price reactions following both voluntary and mandatory disclosures. Further, we derive several predictions about distinct short-run and long-run effects of disclosures and nondisclosures on security prices. Under specified conditions, when the volatility of the firm’s earnings increases, the average contemporaneous and prospective post-mandatory disclosure market premia (for voluntary disclosures over nondisclosures) rise, while farther-in-future market discounts (for such voluntary disclosures) also become larger. Our analysis moreover predicts that both the disclosure probability and the information content of nondisclosures can increase in the persistence of earnings.

Published
2018