Les auteurs cherchent à justifier le principe de précaution (Traité de Maastricht) qui veut que l'absence de certitudes, compte tenu des connaissances scientifiques du moment, ne retarde pas l'adoption de mesures de prévention des risques. Pour ce faire, ils considèrent le problème d'un...

Hyperbolic discounting models are widely seen as implying that consumers do not save enough, in accordance with the observed low rates of savings of some households. This paper qualifies this view by showing that hyperbolic consumers may ‘oversave’ in the short run. The result...

The paper investigates a climate-economy model with an iso-elastic welfare function in which one parameter gamma measures relative risk-aversion and a distinct parameter rho measures resistance to intertemporal substitution. We show both theoretically and numerically that climate policy responds...