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Using ex post data to estimate the hurdle rate of abatement investments - an application to sulfur emissions from the Swedish pulp and paper industry and energy sector

Löfgren, Åsa; Millock, Katrin; Nauges, Céline - HAL - 2008

We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...

Persistent link: https://www.econbiz.de/10010750596

Long-term risk management for utility companies: the next challenges

Aïd, René - HAL - 2008

Since the energy markets liberalisation at the beginning of the 1990s in Europe, electricity monopolies have gone through a profound evolution process. From an industrial organisation point of view, they lost their monopoly on their historical business, but gained the capacity to develop in any...

Persistent link: https://www.econbiz.de/10008794408

Los estudios latinoamericanistas en Finlandia

Vuola, Elina - HAL - 2010

current situation and perspectives of Latin American Studies in Finland. …

Persistent link: https://www.econbiz.de/10010820629

Forecasting the skills needs and developing the coordination between actors : statements and comments

Méhaut, Philippe - HAL - 2006

Finland and France share some common characteristics regarding the labour market situation and trends : a high level of …

Persistent link: https://www.econbiz.de/10008790996

Sectoral Effects of Tax Reforms in an Open Economy

Cardi, Olivier; Restout, Romain - HAL - 2010

We use a neoclassical open economy model with traded and non traded goods to investigate the sectoral effects of three tax reforms: i) two revenue-neutral shifting the tax burden from labor to consumption taxes and ii) one labor tax restructuring keeping the marginal tax wedge constant....

Persistent link: https://www.econbiz.de/10008794287

Optimal Preventive Bank Supervision: Combining Random Audits and Continuous Intervention

Belhaj, Mohamed; Klimenko, Nataliya - HAL - 2012

Early regulator interventions into problem banks is one of the key suggestions of Basel II. However, no guidance is given on their design. To fill this gap, we outline an incentive-based preventive supervision strategy that eliminates bad asset management in banks. Two supervision techniques are...

Persistent link: https://www.econbiz.de/10010933829

Piecework versus merit pay: a Mean Fi eld Game approach to academic behavior

Besancenot, Damien; Courtault, Jean-Michel; Dika, Khaled El - HAL - 2011

This paper applies the Mean Fi eld Game approach pioneered by Lasry and Lions (2007) to the analysis of the researchers' academic productivity. It provides a theoretical motivation for the stability of the universaly observed Lotka's law. It shows that a remuneration scheme taking into account...

Persistent link: https://www.econbiz.de/10010929096

IPPP - Risks and opportunities An economic perspective

Brux, Julie De; Marty, Frédéric - HAL - 2014

This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...

Persistent link: https://www.econbiz.de/10010930091

Incentives from stock option grants: a behavioral approach

Bahaji, Hamza - HAL - 2011

This paper examines the incentives from stock options for loss-averse employees subject to probability weighting …, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding … accommodating their existence. The paper also examines the relationship between risk taking incentives and stock options and finds …

Persistent link: https://www.econbiz.de/10010538937

EMPLOYEE STOCK OPTIONS INCENTIVE EFFECTS: A CPT-BASED MODEL

Bahaji, Hamza - HAL - 2011

Persistent link: https://www.econbiz.de/10010538938