We propose an overlapping generations economy where households care about relative consumption, the difference between their consumption and the consumption of their reference group. An individual's consumption is driven by the comparison of his lifetime income and the lifetime income of his...

We present a model where the probability distribution over the space of an agent's achievements depends not only on her ability and effort, but also on the goals set for her. The agent chooses her effort according to her utility net of perceived cost of effort. This cost is inversely...

There is a large literature on the optimal order of exploitation of natural resources. We explore the impact of specific technical progress that enables the saving of resource inputs in production on the order of exploitation. Models of growth tend to assume uniform and global technical progess....

We provide sufficient conditions for existence and uniqueness of a Cournot equilibrium. The contraction mapping approach is used. Equilibrium is characterized in terms of marginal costs. The result is useful for applications to two-stage games, where, in the first stage, firms incur costs to...

We offer a new proof of the maximum principle for optimal control problems with fixed endpoint. We allow for inequality constraints involving state variables and control variables. Our proof relies on an application of the envelope theorem. Nous donnons une preuve nouvelle du principe de maximum...

Le constat n'est pas nouveau : le Québec est très endetté. Toutes proportions gardées, le Québec est la troisième province canadienne dont le gouvernement est le plus endetté. Les Québécois doivent également supporter le fardeau de la dette publique fédérale, qui est encore plus...

Les émotions sont omniprésentes au travail. Au cours des dernières années, on s'est lentement éloigné de l'idée que le milieu de travail idéal n'admet pas l'existence des émotions pour s'apercevoir qu'elles font non seulement partie intégrante du travail, mais qu'elles y jouent aussi...