This paper deals with the existence of anonymous mechanisms to realize the Lindahl correspondence. We consider, in turn, constant and decreasing returns to scale technologies for producing public goods. In each case, we provide a continuous (but not smooth) and weakly balanced mechanism, which...

[fre] La politique du climat nécessite une décision en situation d'incertitude radicale. Ce document illustre ce débat en supposant l'existence d'un risque de catastrophe irréversible au-delà d'un seuil critique de pollution connu. Sans apprentissage, la décision optimale consiste à...

This note provides a simple characterization of the optimal extraction of a non-renewable resource. The proposed formula determines the solution in its feedback form. It is shown to hold for a large class of models, as long as the utility is stock-independent.